Quote:
Originally Posted by Kate - bet365
We are all aware that there are many knowledgeable punters who will win overall over the bookmakers, or at least make a serious dent in the margin on some markets.
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I find this very interesting. I bet a lot and so do a lot of my mates, some of whom think they are real experts in horses, football etc. But overall we are all down a lot over the years!!
I thought bookies set their prices to build in a 10% or so margin on every bet, and if they get a lot of betting on a particular horse/team they shorten the odds.
Since betting online I frequently find prices on betfair to be much more competitive than the bookies so if bookies are taking bets off punters at worse odds than they could get on betfair, how can they not make a profit?
I think it is unfair to restrict any customer personally. If you are going to advertise odds then everyone should have the same right to take the odds offered until they are changed for everyone. Otherwise it borders on discrimination and false advertising IMO. If the bookie thinks the odds are too high and will not generate a profit then lower them.
I use online bookies and betfred seems to only let me bet £10 on football. This was a result (I think) on having a winning run of bets on football recently. But I would have thought that all the people who bet on the other side of the bet lost and that would cover the book?? Just because I hit the winners they seem to stop me betting. Strange way to run a business, no wonder betfair is thriving.