24th November 2005, 08:47 PM
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Member
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Join Date: Jan 1970
Posts: 578
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Quote:
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Originally Posted by jfc
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. .
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I agree JFC, I was merely giving an assessment of the closing markets, which is not to say that better prices in many cases would have been on offer sometime during the betting. In fact, I would say state that the 'best-on-offer' prices for the complete field would be well below 100% on many/most occasions. |