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A bet that can't lose

  • 09-03-2014 12:38am
    #1
    Closed Accounts Posts: 3,957 ✭✭✭


    Anyone ever back every possible winner in a competition with different bookies where you able to lock in a profit because the book offered by different bookies was so different?

    Think I've spotted one.


Comments

  • Registered Users Posts: 4,244 ✭✭✭Juwwi


    Yea it happens the odd time now and then.



    Go on post it up :)


  • Closed Accounts Posts: 3,957 ✭✭✭Dots1982


    Sorry, I will after I back it. I was just wondering if there was anything I needed to be aware of with these types of things.


  • Registered Users Posts: 4,244 ✭✭✭Juwwi


    unless one of the odds looks totally wrong and the bookie tries to claim palp error it should be ok.

    like it being 8/1 instead of 8/11


  • Registered Users Posts: 7,198 ✭✭✭bobbysands81


    Dots1982 wrote: »
    Anyone ever back every possible winner in a competition with different bookies where you able to lock in a profit because the book offered by different bookies was so different?

    Think I've spotted one.

    Yup, happened with a political bet I had on in a previous GE.

    Had €500 on it with Paddy Power and Ladbokes. (I think), odds changed very quickly after I placed first bet.


  • Registered Users Posts: 7,198 ✭✭✭bobbysands81


    Dots1982 wrote: »
    Sorry, I will after I back it. I was just wondering if there was anything I needed to be aware of with these types of things.

    PM me the bet and I'll check it out for you.


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  • Closed Accounts Posts: 3,957 ✭✭✭Dots1982


    PM me the bet and I'll check it out for you.

    I'm thinking of putting a lot on it so don't want to compromise it yet. Sorry.


  • Registered Users Posts: 243 ✭✭jonnygiles


    this is generally known as arbing a bet and while it is perfectly fine to do so, bookies will generally become more suspect of you if the amount you placed on is a lot higher than your normal stake


  • Registered Users Posts: 34,044 ✭✭✭✭The_Kew_Tour


    Have had success with this 3 times.

    Twice in transfer market specials on players moving Yes or No.

    Once was in 2 man playoff in Golf Tournament in 2006 or 7


  • Registered Users Posts: 2,328 ✭✭✭Mezcita


    I'd be careful here. If the odds are off, as in way off other books who are offering odds on the bet in question then it's a palpable error. Basically a bet that they can cancel as it's a mistake. If it's an arb of not a huge percentage then it's fine.


  • Closed Accounts Posts: 3,957 ✭✭✭Dots1982


    Mezcita wrote: »
    I'd be careful here. If the odds are off, as in way off other books who are offering odds on the bet in question then it's a palpable error. Basically a bet that they can cancel as it's a mistake. If it's an arb of not a huge percentage then it's fine.

    I don't think its an palpable error. Just a misjudgement by one particular bookie in terms of the prices they are offering.


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  • Registered Users Posts: 849 ✭✭✭celticcrash


    Dots1982 wrote: »
    I don't think its an palpable error. Just a misjudgement by one particular bookie in terms of the prices they are offering.
    If it is a misjudgement, the bookies will just call it an error and you could get caught out.
    If it looks to good to be true.......


  • Registered Users Posts: 10,615 ✭✭✭✭okidoki987


    Happens a bit in football nowadays especially for PL matches with the bookies offering prices to 104%.
    There's a chance of getting the prices to 98/99% with shops specials i.e. PP will lay BP Utd to win, 365 would be Best Priced the draw and Boyles BP the away team but not worth it for 1 or 2%.


  • Closed Accounts Posts: 18,335 ✭✭✭✭UrbanSea


    **** or get off the pot. What's the bet


  • Registered Users Posts: 10,615 ✭✭✭✭okidoki987


    Still waiting for the details of exactly what bet it was.


  • Closed Accounts Posts: 3,957 ✭✭✭Dots1982


    Hiyas

    I'll come back later to reveal all with this when I have time. It was a mistake in the odds quoted by the bookie.


  • Closed Accounts Posts: 3,957 ✭✭✭Dots1982


    Ok, so this is what happened, Boyles and PP were both quoting odds for the under-21 Connacht championship.

    Boyles odds were as follows:

    Mayo 1/3
    Galway 9/2
    Roscommon 9/1

    PP odds were as follows:

    Galway evens
    Roscommon 9/4
    Mayo 10/3

    PP odds looked right while Boyles looked incorrect but at my first look at this it looked like a misjudgement rather than an error.

    So combining the odds you were able to get prices on Mayo of 10/3, Roscommon 9/1 and Galway 9/2. Leitrim and sligo were both long odds no hopers.

    So basically if you got your stakes right there was no way you could not make money no matter what the outcome.

    I immediately stuck a small bet on both Roscommon and Galway to win with Boyles as those prices in particular were very generous.

    I noticed on a subsequent look at the odds offered that the U-21 championship was due to commence on the 1st of may according to the page with the odds offered. The u-21 championship kicks off this week so that was the first time I noticed something that would suggest an error on the odds.

    I contacted Boyles for them to confirm the odds offered were correct. I will never know if this was the right thing to do but the alternative was to place very large bets with both Boyles and Paddies on the different options to lock in profit. Had Boyles then claimed an obvious error was made I would more than likely being left seriously out of pocket so it was too risky for me to try and use Boyles error against them.

    Boyles responded to my query saying they would rectify the odds and thanking me.

    In the end I found it hard to get my original small bets voided but that has been done now.

    Still you think they could have given me a free bet for bringing it to their attention and saving them other angry customers.

    Anyway that's the long story with the crap ending.


  • Closed Accounts Posts: 3,957 ✭✭✭Dots1982


    Just to add the original wrong odds Boyles were quoting for the u-21 was actually the senior odds. It was some sort of IT error on their site. But when you clicked on them they were still presented as the under 21 odds so if it wasn't for the date discrepancy between when the senior and the u21 tournaments were due to begin it looked completely legit.


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