Will Bookmakers settled bet early?

mbradso2003

Unusual question..

I have ante post bet with one remaining selection (Froch to beat Groves). Bet gets me few grand if he wins (i'll prob lay bet off)

My question is would Bookmaker (Boyles) settle bet early and settle last selction as NR with slight penalty? Similar to Betfair cash out option i suppose.

whiteshorts

I'd say no chance.
Just wondering why you would ask them to settle as a n/r-void instead of laying it off on Betfair?
You would pay through the nose for a hedge with a bookie.

mbradso2003

whiteshorts wrote: »

I'd say no chance.
Just wondering why you would ask them to settle as a n/r-void instead of laying it off on Betfair?
You would pay through the nose for a hedge with a bookie.

Yeah did say no chance.. I can lay it off and will do via betfair..

Need car fixed was reason for request.

whiteshorts

The only bookie that I have ever heard that did it was Paddy Powers.
Customer was due a big payout and company paid early, I presume for publicity?

mbradso2003

Or maybe to minimise risk..

That stable lad from Nicholson or Henderson's yard who won fortune at Cheltenham, think I read bookies (365??) offered to pay lower amount before last horse had ran.

premierstone

whiteshorts wrote: »

I'd say no chance.
Just wondering why you would ask them to settle as a n/r-void instead of laying it off on Betfair?
You would pay through the nose for a hedge with a bookie.

whiteshorts wrote: »

The only bookie that I have ever heard that did it was Paddy Powers.
Customer was due a big payout and company paid early, I presume for publicity?

It's common enough whiteshorts, the bookie will offer to 'buy' the docket off you - just say in real simple terms you have a €10 accum with 10 selections @ evs and the first 9 have all won, you now have €5,120 going on an evs shot, so the potential value of the docket is either €0 or €10,240 it would not be uncommon in a situation like that for the bookie to offer the customer say €7,500 and void the docket.

OP I would go into the shop where you placed the bet and ask them to make you an offer, and also if you are going down the Betfair route just make sure to actually lay Froch rather than back Groves, I'm sure you know boxing is a three result sport but you would be suprised how many people make similar fcuk ups, good luck!

whiteshorts

I'm speaking from experience as I have tried it in 3 different bookmaking chains and none of them would do it for me.
All rang their HQ's and answer back was NO from all 3.
Amounts ranged from €2,000 to €14,500.

Also work with a guy who had a long term accum with 6 of 7 selections up and the last leg was a Champions League O/right.
He rang the online bookie (one of the 3 here) to take a wedge and was told absolutely NO. He didn't have the money to hedge it on Betfair.

Or maybe to minimise risk..

I'd say a lot of "smaller" bookies hedge bets these days and wouldn't be interested in an early payout as they are tied into the loss then.

mbradso2003

premierstone wrote: »

It's common enough whiteshorts, the bookie will offer to 'buy' the docket off you - just say in real simple terms you have a €10 accum with 10 selections @ evs and the first 9 have all won, you now have €5,120 going on an evs shot, so the potential value of the docket is either €0 or €10,240 it would not be uncommon in a situation like that for the bookie to offer the customer say €7,500 and void the docket.

OP I would go into the shop where you placed the bet and ask them to make you an offer, and also if you are going down the Betfair route just make sure to actually lay Froch rather than back Groves, I'm sure you know boxing is a three result sport but you would be suprised how many people make similar fcuk ups, good luck!

It was web bet, I don't think the customer services understood request!!

I will be laying Froch! I was burned before with Quigg and Munroe fight, PP settled draw after 1.5 rounds, JOKE!!!

paulo6891

premierstone wrote: »

...you now have €5,120 going on an evs shot, so the potential value of the docket is either €0 or €10,240 it would not be uncommon in a situation like that for the bookie to offer the customer say €7,500 and void the docket.

It would be very uncommon to get 7.5k off them given that the bet is only worth €5,120 :P

Mellor

premierstone wrote: »

you now have €5,120 going on an evs shot, so the potential value of the docket is either €0 or €10,240 it would not be uncommon in a situation like that for the bookie to offer the customer say €7,500 and void the docket.

I'd agree with the above, there's no way the bookie gives away €2,500 over equity.

mbradso2003 wrote: »

I have ante post bet with one remaining selection (Froch to beat Groves). Bet gets me few grand if he wins (i'll prob lay bet off)

If the bookies wouldn't hedge it, did you pay off the ref instead?

ninebeanrows

Mellor wrote: »

I'd agree with the above, there's no way the bookie gives away €2,500 over equity.


If the bookies wouldn't hedge it, did you pay off the ref instead?

Well if he got Froch on the slip at 2.0 and Froch on the day was 1.28, then the slip would be worth at least 7500......

Mellor

Weathercheck wrote: »

Well if he got Froch on the slip at 2.0 and Froch on the day was 1.28, then the slip would be worth at least 7500......

Irrelevant. In that case 7500 isn't over the equity.

The example given was an even money shot (he wasn't talking about Froch btw)

FWIW the price on the docket, and the roll-over stake is irrelevant btw. Value is determined by current market price and total return only.