24th November 2005, 07:35 PM
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Member
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Join Date: Jan 1970
Location: Sydney
Posts: 402
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Quote:
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Originally Posted by mad
Thanks for the reply La Mer,
However i think i am missing something. Can't we use Betfair in this manner already? However if i am to take something from jfc's post, the granting of a license over here will allow for greater liquidity on events (more Aussie punters using Betfair to bet on events) at greater prices than currently being offered. Am i getting the point?
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The legality of betting on Australian races is a grey area.
La Mer's comment about a ~105% market only applies if you are a market taker. That is, if you take the price on offer.
But you can instead be a market maker. I won't try to explain that here but just give an example.
One horse in the 1st UK (=very legal and liquid) race tonight has back/lay prices of $18/$21.
A market maker would take the $18 on offer.
A market maker might instead offer to back it at $20. Much better value, but there's no guarantee your bet will be snapped up by a layer.
Once liquidity improves here, the prospects of market makers being matched improves greatly. As does the prospect of effectively betting to a near of sub-100% market.
Many more desirable options available, and once you play about a bit they'll seem like child's play.
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