Easy pickings on Betfair

readytorock

anyone familiar with betfair will know that theres easy money to be made if you know exactly what you're doing. But having watched closely over the past number of months, any reality tv show ie( xfactor, american idol, britains got talent etc) or elections etc are an absolute banker for big bucks because its the very people betting and laying in the exchange that are voting, if you get me. Now pretty basic you may think, but because the prices on betfair are usually better than other bookies it is impossible to use any form of arbing. But because you can notice the pattern easier on betfair i've realised there is ample chances to use arbing to your advantage. Ie: back susan boyle on paddypower at 11/8 and lay her off on betfair at evens. What is any1's opinion on this and is there any other good methods people have found? let me know cheers

silverside

don't really get your point - are you just saying you can arb paddpower against betfair? can you put enough on to make it worth your while.

I only really looked at betfair for fun at the world cup and the bid/ask was so wide it was hard to do anything really..

readytorock

yeh im saying u can arb any bookie against betfair but you rarely get an opportunity but with reality tv and that you get much more chances to do it consistantly. do u regularly win with a bookmaker though?

silverside

Im not a regular gambler at all, just a couple of euro now and again to make football more interesting, fair play to you for finding the arbs. That should be a nice thick market as well (on betfair) I wonder do you make much?

Mezcita

The Achilles heel in your plan is that it involves watching really, really bad TV.

dsmythy

readytorock wrote: »

yeh im saying u can arb any bookie against betfair but you rarely get an opportunity but with reality tv and that you get much more chances to do it consistantly. do u regularly win with a bookmaker though?

Still takes a lot of money to make it worth your time. Plus if your bookmaker account starts showing big wins as a side effect of your arbing they'll shut you down.

alan4cult

How are one particular bookies going to know your arbing across multiple bookies? All they see is the profit/loss you make from a particular transaction. What the arber sees is the the margin of profit versus loss across exchanges. The individual bookie will not notice what you are doing.

adamski8

you gotta rely on the fact people will take you up on your lay as like you say betfair usually has better odds than PP so why would people bet on your evens lay?!!!

dsmythy

alan4cult wrote: »

How are one particular bookies going to know your arbing across multiple bookies? All they see is the profit/loss you make from a particular transaction. What the arber sees is the the margin of profit versus loss across exchanges. The individual bookie will not notice what you are doing.

I was just saying that if you're arbing it's likely you'll be putting quite a bit of money on. It's not impossible that you go on a freakish run with the bookies which seems to give you more arbing opportunities than most in which case you'll be taking a lot of money off them which generally means no more account.

readytorock

i understand they'll shut u down but theres generally a benchmark amount that u must hit before they review your account and take action. the majority on betfair dont look elsewhere for marginally better prices so thats where the occasional arbing opportunity comes in. Arbing is a cut throat way of making consistant money but it does require multiple accounts open and ample patience. any other betfair ideas people use??

altor

readytorock wrote: »

any other betfair ideas people use??

the bookies have had it too good for a long time, if you make money off them they will close your account. betfair is better as you can make your money and never see your account closed as they are getting a cut of your winnings anyway. i bet on in play in irish racing when its on the telly as the race finished betfair market is still open, you have to be quick. bettrader is good for this refreshes every second

ODD-JOB

silverside wrote: »

I only really looked at betfair for fun at the world cup and the bid/ask was so wide it was hard to do anything really..

This is where the best arbing is done.

It is when the prices are so close , that u cant do anything !

FernandoTorres

Jesus I wouldn't lay Susan Boyle for all the money in the world!

Where can you bet on these things on Betfair, I thought it was all sports?

altor

FernandoTorres wrote: »

Jesus I wouldn't lay Susan Boyle for all the money in the world!

Where can you bet on these things on Betfair, I thought it was all sports?

whats is she in and i will have a look ?

altor

FernandoTorres wrote: »

Jesus I wouldn't lay Susan Boyle for all the money in the world!

Where can you bet on these things on Betfair, I thought it was all sports?

found it, hit all sports, special bets, britains got talent.. she is even money to lay..

freshtodeath

adamski8 wrote: »

you gotta rely on the fact people will take you up on your lay as like you say betfair usually has better odds than PP so why would people bet on your evens lay?!!!

Generally if your laying at an already determined price, it is because a backer has requested those odds e.g. if it is available to lay at evens, it is because a backer has requested odds of evens on their bet

altor

thats right but its up to the layers if they want to lay it. in pp they offer the price in the morning and that stays that price till the first show comes in, unless someone puts a big bet on it.. on betfair it goes out and in all day, just depending on if there is a lot of money for it. i have often seen a horse 7-2 to win in the bookies and 5-1 on betfair but the value does be the place market, you could get 2-1 on in to be placed and less than even money in pp plus you have to do two bets in pp win and place. on betfair you can do either

pakalasa

Don't Forget you have to cover the commission, (5%) in Betfair, for the full amount you win so the margin has to be greater than 5% for the arb.

If you can do it fair play - I looked around briefly myself at this, laying across markets, but Betfair always seemed very close to PP.;)

Chonaic

altor wrote: »

bettrader is good for this refreshes every second

Careful with that, you may get data charges on top of your commission, and win enough you will also get premium charges.

readytorock

Fernando Torres,the whole principal of arbing between the 2 sites is that you Win if she wins and you Win if she loses so nothing is left to chance!!! Yeh betfair nearly cover everything. You just type in anything to 'My markets' to check! The last 3 nights on Britains got talent, the 2 'acts' who made it through to the final have been the top 2 in the Betfair market. I dont really watch much reality tv and you still dont necessarily have to. Instead just go with what the public exchange is telling you and if you can find a better price elsewhere lay them off on Betfair.
When Big brother starts this summer the exact same principal will apply.
The Betfair exchange will basically tell you who has a strong chance of being voted off or staying!!!!

applehunter

readytorock wrote: »

anyone familiar with betfair will know that theres easy money to be made if you know exactly what you're doing.

GTFOTS:rolleyes:

altor

Chonaic wrote: »

Careful with that, you may get data charges on top of your commission, and win enough you will also get premium charges.

bet trader is set up so you dont refresh or get charged data charges from betfair. you can change it to refresh every time the market changes if you want but they warn you before you do. as for the premium charges this is only for big backers or layers (like bookies laying off peoples bets) not one of them so i dont have to worry :-)