Silly odds at Betfair

Millionaire · Listed Class Joined: 24 Jun 2005 Posts: 26

I realise that Betfair is always going to give better odds, and therefore the liability when laying is going to be higher than if you were a bookmaker.However I have found the greyhound section, whilst often not too far from the typical bookmakers prices, sometimes they're way out of line.

For example, I always check with an online bookmaker, to see what odds they're offering, and then compare it to Betfair.In a race just now, trap 1 wanted 14/1, whereas the bookmakers odds were 4/1.There's no way I'm going to Lay 14/1 in a field of six, especially when it's real price should be no more than 6/1.

Sorry if this sounds like nonsensical a rant, that's not how I intend it.Really I just need to discuss this and see what other's think.And seeing as though I prefer this forum, and never use the Betfair one, I thought I'd post here.

I'd be interested to hear what you guys think of the very long odds we're expected to Lay at.Personally I'd like to be able to Lay at 50 or 100 pounds a go, but at 8/1 and over prices in a small field much too often, it's really not worth it.

So, not an area to bother with? or can anyone give me some tips?

Thanks in advance!

swift tuttle · Posted: Wed Mar 08, 2006 7:41 pm Post subject:

There's probably not much money in the markets you're referring to. Remember that on Betfair when you're talking about a Lay of 15 being available, it means that someone is requesting that price in order to back it. If they request a price that's too high, they're noy going to get their back bet matched.

You really want to go for markets that have a lot more liquidity in them (big horse handicaps e.g) to get your value in laying.

fairfranco · At Stud Joined: 17 Nov 2005 Posts: 4753

are you waiting till the dogs are going into the traps before betting?

that's when most of the betting happens on Betfair on the dogs market.

i Lay quite a bit on the dogs and have found the best way is to Lay at a very low price early on, if your lucky it gets called, keep checking early on and watch the prices change, there is a huge swing in prices as no money goes on till late but everyone is fishing for a good price

Millionaire · Listed Class Joined: 24 Jun 2005 Posts: 26

thatsa donkey · Classic Winner Joined: 06 Jul 2005 Posts: 860

Hi Guys

forgive my little knowledge of Betfair but cant you leave an order for a Lay price, much in the same way as you can with a back price, (if its unmatched so what, you lose nothing.)

eg in the example above where the bookies price was 4/1, and someone was asking for a Lay at 14/1, if you thought 6/1 was a fair price why not just click Lay adjust the odds down to 6/1, although i'd be tempted to try 5/1(bookies odds +25% or maybe even 9/2, bookies odds +12.5%) and leave the bet and see if it gets matched, dont forget Betfair will always get you the best price on offer, best Lay price is lowest odds available at or below your asking price and best back price is highest odds available at or above your asking price, essentially you dont have to take the prices on the screen.

Good Luck with your Laying

Millionaire · Listed Class Joined: 24 Jun 2005 Posts: 26

You're right donkey.My point is though, it's no use if nobodies taking your prices.Sure you haven't lost, but you haven't won either.And the whole point is making dosh! so really you want people to take your prices as much as possible.I've not been betting on the greyhounds for a few weeks now, but I may start again, putting prices out early and see if they're taken.

I'll let you know how I get on.

Cheers!

Trapform · Handicapper Joined: 23 May 2006 Posts: 19

Blame some of the rating sites for that. Trapform had a 96.8% strike rate of lays in April. Some people therefore were fighting the Betfair layers to Lay.

Conversly, the Win odds are much better, My advice?? Lay the short priced ones that will be punted at closer to their sp. Anything over 5/1 to Lay, swerve it.