My Q on "Betting arbitrage"

[bennythedip2]

I've put this in football but it would apply more to horses and i've done something like it at the greyhounds .

Last night i was asked by a lady ..(yes a lady) what my view was on "Betting arbitrage" !! ..
She's thinking of doing it full time, online ..
Now my first thought was , 'Don't even go there" !! Not with some of these dodgy sites that want you to pay for a programme and also want passwords to your betting sites ..ffs
She has no knowledge or opinion regarding racing or gambling but feels that her accounting background will be more important for this venture

Now i know we sometimes bet at say 6/1, then when a price shortens to say,3/1 we might get rid of some part to make it a non losing bet ...

So my Question,
Is it something that you guys would or have done in some shape or another.. And can it work to a profit ??
thanks Benny

[bennythedip2]

Oh, so you pro tipsters , don't know anything about it !!
It's ok, I have a plan

[Dobie2089]

The first thing is these arbs dont last more than a bloody nano second , and the majority of opps tend to involve having to use some of the more obscure sites to place part of the bet, which is ok i guess if you dont mind tying your money up in anticipation . Not sure that anyone could make a living out of hunting down and playing these rare opportunities , in my opinion you are better finding a horse or event on the exchanges that is over priced and backing to greenline it .

[bennythedip2]

Originally Posted by Dobie2089

The first thing is these arbs dont last more than a bloody nano second , and the majority of opps tend to involve having to use some of the more obscure sites to place part of the bet, which is ok i guess if you dont mind tying your money up in anticipation . Not sure that anyone could make a living out of hunting down and playing these rare opportunities , in my opinion you are better finding a horse or event on the exchanges that is over priced and backing to greenline it .

Yes thanks Dobie ..I'm in agreement with you, i tried to explain something similar ..The problem for the Lady is, she's an accountant by trade, also she's been in the Banking industry (accounts ) and thinks this is the way forward..
She knows nothing about form, opinions, or for that matter whats the difference between a 'flat race' or a 'national hunt' race
She also thinks thats a good thing, 'not knowing' ?
Anyways she's going to have a trial run on some site or other..
But for 1 or 2% at best , I can't see it, unless your betting big, and whos to say you can get the 'lay' part away ..
Plus i'm sure the firms like 'Betfair' won't stand for too much of this ..

Yes there are ways around the companies software account tracking systems ..But is it worth it ?
I don't think so, although i can see a way, IF you're using your own judgement and having an opinion ..

Thanks Dobie .. glk sir

[Dobie2089]

Originally Posted by bennythedip2

Yes thanks Dobie ..I'm in agreement with you, i tried to explain something similar ..The problem for the Lady is, she's an accountant by trade, also she's been in the Banking industry (accounts ) and thinks this is the way forward..
She knows nothing about form, opinions, or for that matter whats the difference between a 'flat race' or a 'national hunt' race
She also thinks thats a good thing, 'not knowing' ?
Anyways she's going to have a trial run on some site or other..
But for 1 or 2% at best , I can't see it, unless your betting big, and whos to say you can get the 'lay' part away ..
Plus i'm sure the firms like 'Betfair' won't stand for too much of this ..

Yes there are ways around the companies software account tracking systems ..But is it worth it ?
I don't think so, although i can see a way, IF you're using your own judgement and having an opinion ..

Thanks Dobie .. glk sir

I think Benny , that to make any profit5 out of this she will have to spread a lot of money about in a lot of different places , and be prepared to be online constantly in order to avail herself of the opps , whether the effort is worth it remains to be seen ...yrs ago i subscribed to a arb company , which alerted me to each arb available , but you had to be quick and some of the companys you had to bet with , by the rime you set up a account and deposited the arb chance had gone , so i wish her luck , but i really think her time wud be better spent finding an overpriced event backing it and laying it off

[bennythedip2]

Cheers Mate .. yes i've had a chat .. she's already started (on a small scale) today .. 5% profit over 4 bets ..

I think this is going to be a long journey and to be honest, already she's doing my head with the Questions every day .. hahahaha

[Dobie2089]

Originally Posted by bennythedip2

Cheers Mate .. yes i've had a chat .. she's already started (on a small scale) today .. 5% profit over 4 bets ..

I think this is going to be a long journey and to be honest, already she's doing my head with the Questions every day .. hahahaha

Time to lose your mobile

[bennythedip2]

Well, it seems the lady in question is already cracking the system .

As i said previously she has no idea as to the difference between a 'seller' and a 'group race' or the front end to the back end of a horse..BUT she does know about accounts and the markets (banking)
And in the short time (around 2 months) is already in a nice profit .

Some of the chats is like double dutch to me, and if i'm honest i couldn't sit for hours , hitting a computer keyboard with changing screens flashing, like a lit up christmas tree ..
But it does look like a long term winner for her, being an 'ex accounts manager in banking' ..

For me yes, there are some new interesting parts to what she's doing and I will be trying bits an pieces out over the coming months .

Made me laugh, when she said, the most important thing is,
'You must not have an opinion as to the outcome of any race" !!!
"Where the fcks the fun in that"?? I replied !! ..

She put her hands in the air, rolled her eyes, shaking her head as she walked out the room