Betting Sites, Good or Bad

[stampy]

anyway all that aside, my beef is that sportsbet never changed the payout figure, hence leading me up the garden path

[Trader]

anyway all that aside, my beef is that sportsbet never changed the payout figure, hence leading me up the garden path

Yes, and that's a legitimate gripe.

all of us punt to make a profit do we not?

Yes, of course. And that's why I'm trying to explain how to make MORE profit.

I am (perhaps poorly) explaining, that any time you hedge, you are paying the bookies 'vig' on both sides.
If you are going to hedge, you are handing the bookie money.
If you feel you want to lock in profit, then just don't book the last leg.

That's all I'm saying.

My last attempt:

Take it to the extreme example.
Heads and tails. The bookie pays $1.90 either side.
You put on $10 for Heads and Heads. Bookie payout is $36.10

After the first heads, you decide to lock in profit.
So you put $19 on Tails.

If heads lands, you win $36.10, less the $19 hedge, for a profit of $17.10
If tails lands, you profit $17.10 on the hedge.
A Profit of $17.10 locked in either way.

However, if instead of doing two legs at the start then hedging, you instead just put $10 on heads the first time, you'd have $19.00 in your pocket. $1.90 more than the $17.10 you've got after hedging.

[Mr Beefy]

anyway all that aside, my beef is that sportsbet never changed the payout figure, hence leading me up the garden path

Yes, and that's a legitimate gripe.

all of us punt to make a profit do we not?

Yes, of course. And that's why I'm trying to explain how to make MORE profit.

I am (perhaps poorly) explaining, that any time you hedge, you are paying the bookies 'vig' on both sides.
If you are going to hedge, you are handing the bookie money.
If you feel you want to lock in profit, then just don't book the last leg.

That's all I'm saying.

My last attempt:

Take it to the extreme example.
Heads and tails. The bookie pays $1.90 either side.
You put on $10 for Heads and Heads. Bookie payout is $36.10

After the first heads, you decide to lock in profit.
So you put $19 on Tails.

If heads lands, you win $36.10, less the $19 hedge, for a profit of $17.10
If tails lands, you profit $17.10 on the hedge.
A Profit of $17.10 locked in either way.

However, if instead of doing two legs at the start then hedging, you instead just put $10 on heads the first time, you'd have $19.00 in your pocket. $1.90 more than the $17.10 you've got after hedging.

FFS it was a $3 Hail Mary that only once the first 8 legs got up did he want to lock in a profit

[Jimmy_041]

Hey@stampy, can you please do my footy tipping?

Notwithstanding, I did tip a draw in Richmond - Carlton

[stampy]

Hey@stampy, can you please do my footy tipping?

Notwithstanding, I did tip a draw in Richmond - Carlton

jimmy i am shite at tipping, it was pure arse!

[mal]

STAMPYGATE


This is my understanding[ unless terms and conditions of any company state other wise]
9 leg multis are virtually 9 separate outcomes
As each leg is successful , then the amounts returned as a dividend is invested to the next leg


ODDS
RI and CA is decided in this manner for Stampygate
The market was about
$1-66 Richmond
$2-30 Carlton

DRAW LEGS
Based on a $3 bet for the first leg
In any drawn games you receive HALF the ticket as a dividend

RICHMOND
If you had Richmond in the first leg
Bet $3 at $1-66 = $4-98 return
Your return before the next leg is $2-49


CARLTON
With Carlton
Bet $3 at $2-30 = $6-90
Your return before the next leg is $3-45


AFTER A DRAWN LEG
The multi is still alive if you had both Richmond and Carlton
The bookies have to pay half collects in draws, its a fair outcome for punter/bookie
Its the same rules as a dead heat at the races, the return is half the total collect

PLEASE NOTE
There are some betting products where a draw is deemed a non bet
For example this applies to winning quarters or half bets with 'some' bookies in football[ sum call off the bet of if scores are equal some pay half divs]
Or another example where bets are deemed as non bets when tennis players are injured at sum stage of the game

FWIW
Stampy, you mite be angry right now, but its these things that make a great yarn in years to come

[stampy]

yes it will be mate, all they can say they are sorry i was mislead but its in their T/Cs, not farrrrrkn good enough, will take it further but dont know who to contact if they dont come good

[JK]

Setup a 6 leg NBA sgm this morning, came to exactly $30.

For interest sake loaded exact same lines into a TAB SGM and their odds were $15.

Appreciate Tab allows for 2 losing legs money back, but that’s a massive discrepancy on odds.

[Brodlach]

Setup a 6 leg NBA sgm this morning, came to exactly $30.

For interest sake loaded exact same lines into a TAB SGM and their odds were $15.

Appreciate Tab allows for 2 losing legs money back, but that’s a massive discrepancy on odds.

I find during NFL season that Ned’s are about half the price of Sportsbet

[mighty_tiger_79]

Anyone been following the Government inquiry into Online Gambling and the blatant lies the bookies make

[Dutchy]

Anyone been following the Government inquiry into Online Gambling and the blatant lies the bookies make

Just incredible the lies, hopefully it will mean MBL's for sport is the outcome

[OnSong]

Anyone been following the Government inquiry into Online Gambling and the blatant lies the bookies make

Just incredible the lies, hopefully it will mean MBL's for sport is the outcome

It is terrific watching those executives squirm.

[mighty_tiger_79]

Betr for sale

[Eagles2014]

Betr for sale

Will our 100/1 bets still be safe?? Got text today offering $100 cash back on my Penrith to win NRL bet. Bit of coincidence

[mighty_tiger_79]

Betr for sale

Will our 100/1 bets still be safe?? Got text today offering $100 cash back on my Penrith to win NRL bet. Bit of coincidence

i got a text offering $250 cashout on boston and penrith

bets should be safe, liability would be considered with the sale price

[Spargo]

Betr for sale

Will our 100/1 bets still be safe?? Got text today offering $100 cash back on my Penrith to win NRL bet. Bit of coincidence

I’ve got Boston who are currently clear faves, Sydney Roosters, third favourite & Melbourne in the AFL who are second in the line of betting - I’ve had no payout offer…

[Dutchy]

those offers are horrible value, but I guess some $ degen punters will take it

[mighty_tiger_79]

Betr for sale

Will our 100/1 bets still be safe?? Got text today offering $100 cash back on my Penrith to win NRL bet. Bit of coincidence

I’ve got Boston who are currently clear faves, Sydney Roosters, third favourite & Melbourne in the AFL who are second in the line of betting - I’ve had no payout offer…

youd be disgusted when you see them

[Spargo]

Just got offered $200 to cash out on the Celtics.

[mighty_tiger_79]

Just got offered $200 to cash out on the Celtics.

Got that as well.
I've been manipulating a book on betfair.