Dave Posted February 12, 2013 Share Posted February 12, 2013 It's less likely that you'll win the bet at 4-3 than at 4-2, so your cash-out amount will reflect that Doesn't less likely = longer odds? I mean I realise that him taking the money means he won even when his bet didn't come in, but it seems back to front to me that as something gets less likely you stand to win less money. But why would you get more money from cashing out when it's looking likelier that you will lose the bet, as opposed to when you're looking relatively safe to win it? Because you're liable to lose it completely if Everton equalise. The risk increases, which is the whole principle behind betting, surely. From the betting companies point of view, the chance you'll cash out at Man U 4-2 Everton is pretty slim, therefore they can stand to offer a larger proportion of what you'd stand to win. As soon as it goes to 4-3 and Everton look like they might get a draw from the game, more people will think about cashing out and therefore they offer you a lower amount to compensate for that fact. You have to remember the betting company holds all the power here, and it's a bit like Ashley-style brinksmanship in that they can offer a fairly naff sum to you and you'll still consider it because the chance of ending up with nowt is far greater. Aye I get it now. Still think it's crummy at best. Just trying to scare you into taking the cash out offer instead of seeing out your bet which presumably costs them much more if you win. Sure, sometimes (as the example in the advert) something is better than nothing, but it's pretty devious IMO. Link to post Share on other sites More sharing options...
Optimistic Nut Posted February 12, 2013 Share Posted February 12, 2013 £5 on Juve & PSG to return about £24.60 Which one's going to fuck up then? Link to post Share on other sites More sharing options...
Wilson Posted February 12, 2013 Share Posted February 12, 2013 £5 on Juve & PSG to return about £24.60 Which one's going to f*** up then? PSG Link to post Share on other sites More sharing options...
wormy Posted February 12, 2013 Share Posted February 12, 2013 £5 on Juve & PSG to return about £24.60 Which one's going to f*** up then? PSG Got excited at my over 2.5 and draw bets involving them when I saw this. Thought Valencia had equalised. Link to post Share on other sites More sharing options...
Dinho lad Posted February 12, 2013 Share Posted February 12, 2013 Fuck off Boro, what you're doing? Link to post Share on other sites More sharing options...
Minhosa Posted February 12, 2013 Share Posted February 12, 2013 It's less likely that you'll win the bet at 4-3 than at 4-2, so your cash-out amount will reflect that Doesn't less likely = longer odds? I mean I realise that him taking the money means he won even when his bet didn't come in, but it seems back to front to me that as something gets less likely you stand to win less money. But why would you get more money from cashing out when it's looking likelier that you will lose the bet, as opposed to when you're looking relatively safe to win it? Because you're liable to lose it completely if Everton equalise. The risk increases, which is the whole principle behind betting, surely. From the betting companies point of view, the chance you'll cash out at Man U 4-2 Everton is pretty slim, therefore they can stand to offer a larger proportion of what you'd stand to win. As soon as it goes to 4-3 and Everton look like they might get a draw from the game, more people will think about cashing out and therefore they offer you a lower amount to compensate for that fact. You have to remember the betting company holds all the power here, and it's a bit like Ashley-style brinksmanship in that they can offer a fairly naff sum to you and you'll still consider it because the chance of ending up with nowt is far greater. Aye I get it now. Still think it's crummy at best. Just trying to scare you into taking the cash out offer instead of seeing out your bet which presumably costs them much more if you win. Sure, sometimes (as the example in the advert) something is better than nothing, but it's pretty devious IMO. I don't see that tbh. Basically the commercial advantage that they're trying to push is the Customers ability to control their bet in real time and decide when to cash it in. There's no obligation to. It works both ways, yes they may pay out less but any return is better than no return to a gambler. If anything, in the event everyone embraced the concept their returns would probably be less due to gamblers using their site becoming more risk averse - i.e: cashing in their chips at the first sign of danger. There's probably a living to be made in that if you were switched on enough. Link to post Share on other sites More sharing options...
Wilson Posted February 12, 2013 Share Posted February 12, 2013 £5 on Juve & PSG to return about £24.60 Which one's going to f*** up then? PSG Got excited at my over 2.5 and draw bets involving them when I saw this. Thought Valencia had equalised. sorry. Just I've took them as a single so fully expect them to implode. Link to post Share on other sites More sharing options...
Dave Posted February 12, 2013 Share Posted February 12, 2013 It's less likely that you'll win the bet at 4-3 than at 4-2, so your cash-out amount will reflect that Doesn't less likely = longer odds? I mean I realise that him taking the money means he won even when his bet didn't come in, but it seems back to front to me that as something gets less likely you stand to win less money. But why would you get more money from cashing out when it's looking likelier that you will lose the bet, as opposed to when you're looking relatively safe to win it? Because you're liable to lose it completely if Everton equalise. The risk increases, which is the whole principle behind betting, surely. From the betting companies point of view, the chance you'll cash out at Man U 4-2 Everton is pretty slim, therefore they can stand to offer a larger proportion of what you'd stand to win. As soon as it goes to 4-3 and Everton look like they might get a draw from the game, more people will think about cashing out and therefore they offer you a lower amount to compensate for that fact. You have to remember the betting company holds all the power here, and it's a bit like Ashley-style brinksmanship in that they can offer a fairly naff sum to you and you'll still consider it because the chance of ending up with nowt is far greater. Aye I get it now. Still think it's crummy at best. Just trying to scare you into taking the cash out offer instead of seeing out your bet which presumably costs them much more if you win. Sure, sometimes (as the example in the advert) something is better than nothing, but it's pretty devious IMO. I don't see that tbh. Basically the commercial advantage that they're trying to push is the Customers ability to control their bet in real time and decide when to cash it in. There's no obligation to. It works both ways, yes they may pay out less but any return is better than no return to a gambler. If anything, in the event everyone embraced the concept their returns would probably be less due to gamblers using their site becoming more risk averse - i.e: cashing in their chips at the first sign of danger. There's probably a living to be made in that if you were switched on enough. Surely the returns via that method are significantly lower than you stand to actually win, or else everyone would do it and Betfair would lose a fortune. Link to post Share on other sites More sharing options...
Ash Posted February 12, 2013 Share Posted February 12, 2013 It's less likely that you'll win the bet at 4-3 than at 4-2, so your cash-out amount will reflect that Doesn't less likely = longer odds? I mean I realise that him taking the money means he won even when his bet didn't come in, but it seems back to front to me that as something gets less likely you stand to win less money. But why would you get more money from cashing out when it's looking likelier that you will lose the bet, as opposed to when you're looking relatively safe to win it? Because you're liable to lose it completely if Everton equalise. The risk increases, which is the whole principle behind betting, surely. From the betting companies point of view, the chance you'll cash out at Man U 4-2 Everton is pretty slim, therefore they can stand to offer a larger proportion of what you'd stand to win. As soon as it goes to 4-3 and Everton look like they might get a draw from the game, more people will think about cashing out and therefore they offer you a lower amount to compensate for that fact. You have to remember the betting company holds all the power here, and it's a bit like Ashley-style brinksmanship in that they can offer a fairly naff sum to you and you'll still consider it because the chance of ending up with nowt is far greater. Aye I get it now. Still think it's crummy at best. Just trying to scare you into taking the cash out offer instead of seeing out your bet which presumably costs them much more if you win. Sure, sometimes (as the example in the advert) something is better than nothing, but it's pretty devious IMO. I don't see that tbh. Basically the commercial advantage that they're trying to push is the Customers ability to control their bet in real time and decide when to cash it in. There's no obligation to. It works both ways, yes they may pay out less but any return is better than no return to a gambler. If anything, in the event everyone embraced the concept their returns would probably be less due to gamblers using their site becoming more risk averse - i.e: cashing in their chips at the first sign of danger. There's probably a living to be made in that if you were switched on enough. Surely the returns via that method are significantly lower than you stand to actually win, or else everyone would do it and Betfair would lose a fortune. Betfair don't set the odds, you're taking the odds that other punters set so they only make money from commission. Link to post Share on other sites More sharing options...
Dave Posted February 12, 2013 Share Posted February 12, 2013 Ah yeah. Still, there has to be some benefit in it for them. Link to post Share on other sites More sharing options...
Neil Posted February 12, 2013 Share Posted February 12, 2013 Anyone going for Boro tonight? (At home to Leeds). They've lost their last 5 league games...... maybe they're due to break that run? 2.15 MR. 1.50 DNB. Fuck off Boro, what you're doing? Are you having a laugh? Just checked the score, it's 0-0 ffs. Seriously Dinho. Link to post Share on other sites More sharing options...
wormy Posted February 12, 2013 Share Posted February 12, 2013 I've never known someone to get so insanely angry at bets still with a good chance of succeeding. Link to post Share on other sites More sharing options...
Ash Posted February 12, 2013 Share Posted February 12, 2013 Ah yeah. Still, there has to be some benefit in it for them. Just a little gimmick that they want to push I'd imagine, not sure what they gain from it. Link to post Share on other sites More sharing options...
Neil Posted February 12, 2013 Share Posted February 12, 2013 I'm not sure what the best bit is. He's bet on Boro, who have lost 5 in a row and he's having a go at them. And he's having a go at Boro, who have lost 5 in a row, and the score is a truly catastrophic.... 0-0. Link to post Share on other sites More sharing options...
Dinho lad Posted February 12, 2013 Share Posted February 12, 2013 Leeds are winning the passing. Link to post Share on other sites More sharing options...
Neil Posted February 12, 2013 Share Posted February 12, 2013 Actually I also had BTTS in that game and when I saw Dinho's comment of "what are you doing Boro?" I thought there'd at least been a goal but no, he was just that annoyed at a team who've lost 5 in a row not suddenly winning. Damn it, Dinho. Link to post Share on other sites More sharing options...
Minhosa Posted February 12, 2013 Share Posted February 12, 2013 Ah yeah. Still, there has to be some benefit in it for them. Just a little gimmick that they want to push I'd imagine, not sure what they gain from it. They gain the customers through the attraction of being able to 'manage' your bets live. If you're gambling big money on say Man Utd tomorrow and they go one up but are looking really dodgy at the back, you may wish to cash in your chips and take the money. A guaranteed return and no more stress. I can certainly see the attraction to it. Sporting Index do the same thing with goalscorer numbers etc. It's pretty exciting watching the 'exchange/market' move and deciding what to do with your bet. Link to post Share on other sites More sharing options...
Dinho lad Posted February 12, 2013 Share Posted February 12, 2013 Actually I also had BTTS in that game and when I saw Dinho's comment of "what are you doing Boro?" I thought there'd at least been a goal but no, he was just that annoyed at a team who've lost 5 in a row not suddenly winning. Damn it, Dinho. Sorry, dude. I'll make myself a bit more clearer next time. For the sake of the thread's etiquette. Link to post Share on other sites More sharing options...
Scotty66 Posted February 12, 2013 Share Posted February 12, 2013 Ah yeah. Still, there has to be some benefit in it for them. Just a little gimmick that they want to push I'd imagine, not sure what they gain from it. Betfair takes a min 5% commission on all their markets in the exchange so if the backer or layer wins,they still make money. Obviously traditional bookies only make money when you lose so Betfair have quickly become one of the biggest around. Cash out option is just a quicker way of trading. Link to post Share on other sites More sharing options...
colinmk Posted February 12, 2013 Share Posted February 12, 2013 Cmooooooon the Celts! Link to post Share on other sites More sharing options...
Stu Posted February 12, 2013 Share Posted February 12, 2013 Tonight's bets Sheff Utd @ 7/5 Celtic @ 4/1 PSG @ 21/10 Trixie, 4 bets * £5.00 Middlesbrough @ 23/20 Hartlepool @ 17/20 Celtic or Draw @ 1/1 Trixie, 4 bets * £5.00 Sheff Utd @ 7/5 £50.00 Single Link to post Share on other sites More sharing options...
Stu Posted February 12, 2013 Share Posted February 12, 2013 Oh dear, Celtic. Link to post Share on other sites More sharing options...
colinmk Posted February 12, 2013 Share Posted February 12, 2013 Cheating Italian fucking scum. Link to post Share on other sites More sharing options...
Dinho lad Posted February 12, 2013 Share Posted February 12, 2013 Boro score. Link to post Share on other sites More sharing options...
RR15 Posted February 12, 2013 Share Posted February 12, 2013 This is Boro, they'll concede in the last seconds. Link to post Share on other sites More sharing options...
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