Prices

[Mark]

I don't intend to do this every day/every race, but here's an example of one race.

AR2 today, the winner paid $3.40 Unitab, best price (with one of our fearless internet bookies) was $3.25, and this only bet after the closing time for the race, and Betfair traded between $3.85 & $5.20, with the last bet at $4.40.

The TAB's & bookies as we know them today will soon be obsolete, or patronised by mugs only.

[Dr Pangloss]

I wouldn't say "soon" as I think you have overestimated the intelligence and savvy of the rank and file Australian punter.

No arguement with either the fact or sentiment behind your comments.

<font size=-1>[ This Message was edited by: Dr Pangloss on 2004-07-14 15:17 ]</font>

[Mark]

I mean within 5-10 years.
As discussed the TAB has to change or slowly disappear. It now has real competition, and will suffer as bookies numbers have done, since the TAB's inception.

[sportznut]

Doubt it.

75% of punters wouldn't even think of betting anywhere but their local TAB or Club.

[Mark]

Yes, and 95% of punters lose.

[topsy99]

the majority of punters dont care whether they win or not. they bet for fun and the occasional surprise result.
compare the logic of tab or poker machines.
we know you cant win on pokies yet hundreds of thousands of people lose billions of dollars in them

taking things seriously is what most people dont do.

[michaelv]

Mark, Could you give me an idea as to the level of wager one could have on a race like today?

I would imagine the amount of money would not be huge, especially during the week. For instance, would I have been able to back the horse you mentioned today for $2,000 without taking multiple bets for smallish amounts?

I admit to not being very knowledgeable re betfair and how it all works but from the little I have seen I suspect that it would be difficult to get set for a largish wager without taking the multiple amounts on offer and even then you might not get set for the amount you wished to wager by the time the race was to start.

If I'm missing something and I have it all wrong please let me know because the odds ARE definitely attractive (of that there is no doubt) but if I have to deal with taking bets for $200 here and $300 there then it's too hard (for me) at the moment. This is particularly so if I have a couple of races running back to back and, using betfair, I have to view 2 (or more) races at once all the time trying to get set for the full amount. This could lead to certain levels of confusion (on my part) and I will get totally lost.

Perhaps when everyone is using it and the amounts available are large the bigger punters might move in but until then it seems to be more trouble than it's worth (for those betting in larger amounts anyway). The $20 or even $100 punter could use this system a lot easier than a larger denomination punter (I think).

However, I look forward to the developments that WILL have to come.

_________________
Regards

<font size=-1>[ This Message was edited by: michaelv on 2004-07-14 19:54 ]</font>

[Mark]

Michaelv

I did happen to write things down about this race.
The lowest price traded on the winner was $3.85...that was the worst. The total amount was just over $3000, at an average of around $4.50. At the jump you could have got $600 on at $4.20. Not an insignificant amount for a midweek Adelaide race, and you would have been set at $4.20.

[Mark]

I meant to add that this is not an isolated case.

[Mark]

bloody return button.

I brought this one up only because I happened to be listening at the time.