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Thought it might be interesting to bet on the odds the
bookies give a sporting event, rather than the sporting
event itself. Probably get longer odds than by betting on
the game, as there's more margin for error.
"10 bob on Betfair to give Stoke 10:1 to win against Man
U,
if you would squire."
"Certainly
sir, that's £10 on a 30:1 bet on Betfair's Stoke
10:1 vs Manchester United."
If it comes in, that's £300, rather than betting on Stoke
to
win (which they won't, but could, I s'pose) and only
getting
£100.
For really long odds, you could bet on the odds on the
odds
of a game, but that might be getting a bit silly.
Anyway, this way, you can enjoy the game without
worrying about having to live on the streets because of
your crippling gambling addiction.
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Or place bets on the gamblers that come in. "I'll put 5 on
the tramp with the shakes". "Sir, he's'a long shot from
winning". "I like his face." |
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I bet you have 2 croissants before the 3rd annotation... |
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You'd have to bet with a competing bookie of course, but if your new bookie was getting more bets, the first one would have to make his odds better. |
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We always thought this was called an IPO, or
a flotation, or something like that … |
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"I'll put 5 on the tramp with the shakes". "Sir, he's'a long shot from winning". |
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Yes, but he's so beautifully marked. |
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Apologies the shade of Bloodnock.. |
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"And here at the announcing of the 12:15 at Ascot,
the bookies are preparing their bids for number
14, Gone In A Jiffy. And Ladbrokes have stepped
forward! There's really quite some
brashnesshere asLadbrokesgoesfor 7:1 straight off
the bat, but upstepsBetfair, Betfairtothestand,
forthosepeoplewho'vebet onBetfair'sodds,
herethey come, and it's 9:1 by a nose! And
roundthecornercomes WilliamHill,
afinespecimenofabookie ifevertherewasone,
andasheapproachesthepodium, ohmyword! He's
fallen! WilliamHillhasfallen before the first odds
and will he recover
fromthatnastyknocktotheknee?
No, no, it looks like, yes, here comes the master
bookiesman, and, oh dear, that is a shame, it
looks like he'll <BANG> Well, it's best the poor
thing doesn't suffer." |
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A fine idea, theleopard, but it strikes me that there is some scope for scoundrelly behaviour. You will, after all, have to go to a bookie to lay your bet, so telling them what you think their odds will be before they declare what the odds are is not likely to result in payouts by anyone other than mug punters, I suspect. |
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Two solutions: either this service is set up by a
company called "Bookies' Favourite", who have no
affiliation with the ordinary bookies and only take
bets of this kind; or, less secure but more open,
restrict the ability to bet on odds of the bookie at
which you're betting. |
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We're getting towards Collateralised Bookie Obligations here. |
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I'd like to propose a new product I call the 'bookie
default swap,' in which I bet that you'll lose but won't
be able to pay back the ante, but might pay a bit
more than the other loser down the street... |
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Mums the word every time the market system fails, or else
people might start to think it doesn't really work. It's
ironic that a rational economic system is epitomized by
high finance gambling. |
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Over the fences this could be a Hedge Fund. |
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//restrict the ability to bet on odds of the bookie at which you're betting//
Doesn't matter, theleopard. In order to spread risk, bookies lay off their bets with other bookies, so a careful monitoring of this traffic will reveal all to all bookies. You can't place a bet with a bookie and not have every other bookie know about it as soon as the bets are laid off. |
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