Betfair Explained

KamiKazi

does betdaq except 3v vouchers?

wb

KamiKazi wrote:

does betdaq except 3v vouchers?

I'm not sure as I don't really use it. I don't think so though. I'm sure they have a section on their site explaining how to fund your account.

Keyzer

DeadParrot wrote:

Keyzer, have a quick look at the betfair sticky on the main horseracing page.
Basically, you are the bookie, you are putting UP €43 for someone to back against and are offering them whatever odds you want.
e.g, you and yer mate bet each other a tenner that Robin1982 is the devil incarnate (or a spy from betfair trying to disuade us all to cash in;) )
However, you are that sure that he's the devil that you offer 10/1 to your mate for his tenner
Thus, you have a potential payout of his tenner PLUS 10/1...or thereabouts

Just read the sticky its much better than the above

Thanks.
But how come when crumbs lays for 43 euro he only gets his 43 plus another 43 back? Should he get more depending on the laying odds?

Crumbs

Keyzer wrote:

Thanks.
But how come when crumbs lays for 43 euro he only gets his 43 plus another 43 back? Should he get more depending on the laying odds?

First, think about backing a horse. If I wanted to back a horse at odds of 4/1 and I wanted to put €43 on it, then I am risking losing my €43 for a potential gain of €172.

Now, for laying, think of being on the other side of the above transaction. Someone else is going to risk their €43 for a potential gain of €172 and we are going to accomodate them. That's what laying is. So I lay the horse at odds of 4/1 for a stake of €43, which means I have a potential gain of €43 but a risk of losing €172. The odds don't affect what I might gain by laying, only what I might lose.

KamiKazi

im registered on betfair, i have a 3v card registered but that doesnt work so how do i register another card ( laser)?

Keyzer

Crumbs wrote:

First, think about backing a horse. If I wanted to back a horse at odds of 4/1 and I wanted to put €43 on it, then I am risking losing my €43 for a potential gain of €172.

Now, for laying, think of being on the other side of the above transaction. Someone else is going to risk their €43 for a potential gain of €172 and we are going to accomodate them. That's what laying is. So I lay the horse at odds of 4/1 for a stake of €43, which means I have a potential gain of €43 but a risk of losing €172. The odds don't affect what I might gain by laying, only what I might lose.

gotcha... so whatever you lay for, you only ever get paid what you double what you laid...

dvdfan

I had a similar problem with the 3v voucher, and as far as i know this is the reason. You will transferring the money via paypal(3v visa card) to your betfair account. If your primary email address on the paypal account is not the exact same as the email address on your betfair account it will not work. I dont know why and it dosent make sense and trying to change the primary email address dosent seem to work.

for anyone who doesnt know about 3v vouchers see www.3v.ie

KamiKazi

nah its cool, got my laser working

wb

Keyzer wrote:

gotcha... so whatever you lay for, you only ever get paid what you double what you laid...

I don't really get what you mean Keyzer. Laying is like being the bookie. Simple as that.

In a normal situation, If you backed a horse at 5/1 using €10 and the horse wins, the bookie owes you €50 profit plus your stake. If the horse loses, he keeps it.

It works the same when laying. If you lay (be the bookie) a horse at 5/1 with a €10 backers stake and the horse wins, you owe out €50 plus stake from your betfair account. If it loses, you keep the stake. You are simply acting like a bookie.

Bateman

And to reinterate, depositing with Laser is a lot more beneficial than with Visa. Taking each deposit on an individual basis, the deposit fees may not seem like much, but like everything else on betfair, they all add up.

Another news snippet: betfair have finally buckled to pressure from a small number of regular users, and added Eircom League First Division Match Odds markets, and already there has been healthy trading on a number of key games.

[nicK]

have they cracked down on the $4 minimum bet 'hack'?

wanted to stick a euro or two on some long shots in the golf.. 4euro is too much though..

robfitz

[nicK] wrote:

have they cracked down on the $4 minimum bet 'hack'?

No it's still working. I've used it a couple of times today already.

wb

[nicK] wrote:

have they cracked down on the $4 minimum bet 'hack'?

wanted to stick a euro or two on some long shots in the golf.. 4euro is too much though..

As rob says, you can still do it.

BUT, betfair have done a site update yesterday, and people are still having problems with the site (me included) so that may be the problem. Make sure you clear your temp. internet files etc. and see if the site is working ok then.

wb

I know it won't mean a hell of a lot, but it's nice to get my name associated with betfair all the same!

If you click on 'betfair academy' on the left, then 'betfair accredited trainers'

Scroll down near to the end, and there I am (Wayne Bailey)

http://help.betfair.com/index.en.html?

Bateman

wbailey wrote:

I know it won't mean a hell of a lot, but it's nice to get my name associated with betfair all the same!

If you click on 'betfair academy' on the left, then 'betfair accredited trainers'

Scroll down near to the end, and there I am (Wayne Bailey)

http://help.betfair.com/index.en.html?

They told me it was full. Yet there are only 4 or 5 Ireland-based people listed now?

Should I assume that they looked at your P&L before allocating places?

Topcat101

Anyone here use BOTS to compare odds from different sites, I'm mostly interested in arbing bets backing and laying off and keeping the difference between the two.....

wb

Bateman wrote:

They told me it was full. Yet there are only 4 or 5 Ireland-based people listed now?

Should I assume that they looked at your P&L before allocating places?

I would guess that this is the case. I have 3 betfair accounts. One is for my proper betting, one is for trading and one is for 'fun' . The fun account is not showing much profit, and I did not get an e-mail sent for this account, where as I got 1 each for the other accounts. That said, it was full on the day, so you may have been to late. There were around 15 people there that day. Perhaps everyone did not pass the exam at the end, as it was quite tricky.

wb

Topcat101 wrote:

Anyone here use BOTS to compare odds from different sites, I'm mostly interested in arbing bets backing and laying off and keeping the difference between the two.....

Because of time constraints, I don't arb much, but from what I've heard, VHF is the best there is (Value Horse Finder). I know a couple of people who use it, so pm me if you need a review. It costs around £97stg though.

wb

Betfair 'Starting Prices'


(for want of a better word!)



Anyone who likes to paper trial backing or laying systems will know how annoying it is to try to work out what the betfair price would have been. (if you are checking your results after the days racing)

Some people add 10-20% to the SP, but its a bit hit and miss, which makes it inaccurate.

Betfairs historical comes in handy here. You can check how much was matched on each selection and at what prices. It comes in a spreadsheet, so you can get an average matched price, or check what the betfair price was just before the off etc.

You will need to have earned at least 100 betfair points before they let you use it:


http://data.betfair.com/

wb

Auto Betfair.

This is still on trial by betfair, but is fully functional to use. This really is an excellnt tool for those who cant sit at the PC all day, yet need to place bets close to the off. Basically, you can set up all your bets the evening before/in the morning, and it will place them automatically for you at whatever time you set. It can leave orders, or take the best price available.

With betfair, (especially with long-shots or the place market) the best odds are very often to be found close to the off. Up until now, anyone who was not at a pc all day would have to try use betfair mobile or else settle for the morning prices. Best of all, its free. There have been bots out there doing this for some time, and all cost a fair few quid - so this is an excellent devellopment.

It can be downloaded along with a user guide here:

http://labs.betfair.com/labs.aspx

gamb1or

Do bank of ireland charge much if you want to deposit money in your betfair account from your bank account?

3v cards don't allow gambling, right?

wb

gamb1or wrote:

Do bank of ireland charge much if you want to deposit money in your betfair account from your bank account?

3v cards don't allow gambling, right?

I'm not sure how much each bank charges to be honest. Every one is different. Give them a call and as how much a bank transfer is. 3v cards are not allowed.

TOm Kelly

exchanged

keepitquiet

new to betfair and this post has been very helpful:) however i have two questions. if say £100 is availible at 11s (10/1) and i bet £10 will i get a payout of £110 or will i only be able to get a payout of £100(so id have to bet £9 to get £99 back)?

Also, if say theres £100 availible and i bet £10 but whilst i am making the bet the amount availible falls to £50 what happens? will i recieve £5 back or will my bet be left to be matched? cheers

wb

Hi keepitquiet, glad the thread was of help. I presume you are talking about backing right?

keepitquiet wrote:

if say £100 is availible at 11s (10/1) and i bet £10 will i get a payout of £110 or will i only be able to get a payout of £100(so id have to bet £9 to get £99 back)?

The amount available in the blue box is the total amount available that someone can use as their stake. So, if there is £100 available for backers, this means that there is £1000 in the pool behind the scenes in case that horse wins.

If you backed the horse with £10 @ 11.0, your profit will be £100 should the horse win.

After you place your bet, £100 will be taken from the potential payout pool that is held behind the scenes (in case you win it) - and there should be £90 left in the blue box. (Very often, the prices go up and down quickly so the money available may have changed by the time the bet is processed)

keepitquiet wrote:

Also, if say theres £100 availible and i bet £10 but whilst i am making the bet the amount availible falls to £50 what happens? will i recieve £5 back or will my bet be left to be matched? cheers

If there is £50 still available, your tenner will be matched. (There will be enough money behind the scenes to cover your bet if it wins)

However, say the amount available drops to £7 for example:

£7 of your bet will be matched, and the remaining £3 will be left up there until

A. You cancel the remaining £3
B. You lower your price to get the rest of the bet matched
C. A layer accepts your price



It's kinda hard to put it down here, so feel free to pm me if you need it explained on msn or anything.

keepitquiet

no thats great cheers. i thought that say £100 meant that there was a possible £100 to gain not to stake. u wouldnt have thought theyd save you doing the maths:rolleyes: so my second question meant exactly wat u answered in the second part. cheers wb, im mint with betfair now

_Kaiser_

Quick question..

I had/still have a Betfair account that I last used about a year or two ago up until they started asking for all sorts of bank statements/ID's to be faxed to them. As I thought they were asking for a bit much to be honest, and I only occasionally place bets anyway (on the big events mostly), I didn't bother.

Is it still the case then that they require all this information? (ladbrokes/paddy power don't seem to be concerned for example). What's my best option.. e-mail/fax them everything they want, or just open a new account?

Cheers.

wb

Kaiser2000 wrote:

Quick question..

I had/still have a Betfair account that I last used about a year or two ago up until they started asking for all sorts of bank statements/ID's to be faxed to them. As I thought they were asking for a bit much to be honest, and I only occasionally place bets anyway (on the big events mostly), I didn't bother.

Is it still the case then that they require all this information? (ladbrokes/paddy power don't seem to be concerned for example). What's my best option.. e-mail/fax them everything they want, or just open a new account?

Cheers.

I'd try a new account. I don't recall being asked for that info (Victor Chandler asked me alright). I opened a new betfair account recently to trade with, and I did not have to provide this information.

TOm Kelly

WB - Re. betting in running ... if betfair refreshes every 20 seconds - how is there time to lay and place bets after coming over the last .. or with a furlong to go on the flat ... that is one third of the time it takes to run five furlongs ... what am I missing? Thanks.

Robin1982

Betfair refreshes the browser (the display) every 30 seconds - the system is a continuous market (it is working constantly in the background). There are freely available Betfair tools that can refresh the display every x number of seconds/milliseconds if you so desire. Obviously, for in-running betting, this is recommended.