Horse racing tips (or other betting)

[BroKar]

depends how serious you are, betfair is a must due to being able to hedge your bets, i have accounts with just about all the major corporates, i do alot of backing @ 7.50 with sporting bet and laying on betfair @ $6.50 type betting.

[poidda]

depends how serious you are, betfair is a must due to being able to hedge your bets, i have accounts with just about all the major corporates, i do alot of backing @ 7.50 with sporting bet and laying on betfair @ $6.50 type betting.

For this to happen, sporting bet would have to be paying much better odds than betfair! And if you can lay it for $6.50, than they would only be paying less again.

[kpac]

For this to happen, sporting bet would have to be paying much better odds than betfair! And if you can lay it for $6.50, than they would only be paying less again.

I too saw that as a pretty optimistic example. Realistically hedging bets is a good theory, but i dont think numerous accounts is the way to do it.... Betfair alone is good for it, but hedging the nags is hard work for anything more than pocket change. Hedging bets over a season or to save a multi is the way forward though.

typical kpac.
Have a $100 multi over 5 legs, (stand to win 1k)
4 have done the job - just waiting on the last at $2.5
get on the others at $100 @ 1.33

This was, best case scenario you pocket $1k - $100
Worst case you get your $100 and interest.

HOWEVER as a rule of thumb
The more you hedge, the safer you bet, the less you win.
The less you hedge, the riskier the bet, the more you stand to profit but the more you lose.

[poidda]

Or another hypothetical.

Say you put $50 on the Roar to win the A-league at $21 back in June. You would stand to collect $1050.

They are now paying 3.45 or you can lay it for 4.40.

[PeteyD]

Or another hypothetical.

Say you put $50 on the Roar to win the A-league at $21 back in June. You would stand to collect $1050.

They are now paying 3.45 or you can lay it for 4.40.

So in this situation, they win you collect 1050 and pay out $50 @ 4.40 ($220) if they win, and you get your $50 back if they lose. So no money lost.

Is that right?

[poidda]

Or another hypothetical.

Say you put $50 on the Roar to win the A-league at $21 back in June. You would stand to collect $1050.

They are now paying 3.45 or you can lay it for 4.40.

Brisbane now paying $1.50 to win on the weekend. I really should close this bet down. but I aint.