Where do I find out what I am allowed to bet on on the exchanges....? Quite keen to bet on some UK live races but apparantly I am not allowed. If ever there was a way to make money that is it, but no, not allowed....

well as far as i know you are allowed to bet,,,depends where you are

Apparantly you can bet on them until they clear the market and go live. An Australian law stops anyone in Aus betting on live in play markets.....

Are you sure i have numerous bets on the cricket IN PLAY.

Sorry are you just talking about races.

It is illegal in Australia to bet on racing or any other sports in play via the internet. This is covered by the Interactive Gambling Act.

This means that while it is possible to bet via the telephone on games in play such as soccer, golf etc, or on racing in the run, it is not legally possible to do so on the internet.

I really don't understand how you would bet on a race 'in the run'. Most races last little more than a minute. By the time you see the odds and get around to placing your bet, the race would be over or the odds would change. How does it work???

Heaps of money turned over (matched) on UK races in the run, mainly on the jumps races which go for a lot longer than a minute, remembering that over there they have distinct flat and jumps racing seasons.

I have watched a few UK race markets, and you would only really want to bet on races over a mile. The pool goes from about $500,000 to 2.5 million from the start of the race to the finish.... The odds fluctuate around to crazy levels providing many trading opportunities..... Lots of money getting thrown around just trying to get matched. Would be great to be a part of it....

Also got told by Betfair staff that I would not be able to bet this way via their phone service either... Did he get it wrong.? Either way, I don't think I would like to sit the on the phone for 4 hours getting somebody to place bets for me.....

BJ: What Betfair may have told you may be right in regard to in-the-run betting on horseracing, simply because of the logistics involved - as you stated the odds fluctuate around somewhat so what may be on offer one second could be totally different the next.

However, I can assure you that I have made a number bets in-the-run on sporting and special event type markets by telephone. For instance, in the US election I backed Bush early on in the campaign then did so again on election night at $3plus when the early results looked like going the other way, then when things started to change around, did so yet again on the Democrats creating a win/win situation. Not a problem, all bets on election night were made via the phone and in-the-run.

Also, if you think racing doesn't have a problem or two when it comes to the competition for the gambling dollar, think again: Betfair matched over AUD$34 million on the US election, over AUD$20 million being matched in the last 24 horse before and during the counting of votes.