So your wager is on horses 6, 5, 7 & 8 (all in 4 consecutive races)
Exacta: In the exacta, you can pick the horses that will finish first and second in exact order. The Odds of the quinella are much higher than a direct win, so more money will be won if the quinella comes through.. If one horse win and the other does not, you will lose your bet, both horses must win for you to see dividends.
Pick Four: Are you feeling a bit more lucky? well pick four is for you, you are wagering that your choice of 4 horses will win in FOUR consecutive Races. As the odds for winning increases so does the payout.
Double Event: This waging is when you select the two winners from two consecutive races. These bets are not available in all races as many factors depict if a customer can wager on a high 5 race such as the amount of horses in the race. Betting beg on a pick 9 can give you millions in winnings.
Quinella: The Quinella is a term given to a bet that picks the two horses which will come first and second no matter the order. A trifecta is where three horses are placed in the exacta order of finishing 1, 2, and 3. Placing a $100 dollar bet on a good trifecta will give you a broad nice smile on you face when collecting your winnings.
Pick Six: No, this is not the lotto, you must be very lucky to burst this bubble, you are wagering that your choice of 6 horses will win their respective Races. So if you are wagering on race 1 and race 2, you must bet on the horse that will win in race 1 and the horse that will win in race 2. So if you bet that horses number 6 and 7 will come first or second, doesn’t matter which one comes first or second. All horse tracks offer exacta betting on most races. So if you wager on horses 6 and 7 in an exacta or sometimes called a perfecta, you must specifically state which horse you bet will come first and which horse will come second.
Trifecta:If you are really lucky or really know your horses, you can wager on what is called a trifecta. Races with 7 or less horses are usually excluded from High 5 or another term pick 5 wagering.
Pick 9: Same as the Pick six, the only difference is that the odds are stacked much more higher and so is the payout. The odds of picking the six winners in six races are high and so are the payoffs.
High Five: You are wagering that your choice of 5 horses will finish 1st through 5th places in a single race
Over 80 percent of collegiate athletic departments actually lose $11 million dollars or more for their universities yearly. At many universities, this means cutting faculty and entire degree programs. What’s worse, we are watching yet another round of the corporatization of American colleges and universities and the toll it’s taking on the country and excusing it as tradition. Instead, they signed Terry Bowden, head coach of their football program, to a $2 million dollar contract. Compare that to the average $25,000 salary of an adjunct professor and it begins to get fuzzy as to whether colleges are still institutions of higher learning, or professional sporting arenas.
Tuition to state universities across the nation has risen, on average, about 30 percent since 2000 alone. But there is simply is no evidence behind that.
The numbers for this crisis are daunting. If we don’t stop this gross misuse of student fees and the student debt crisis, the only tradition our country will know is that of being in poverty if you chose to get a college education. Share it with your friends, colleagues, and college-age children. The trend is in direct correlation to increases in student fees that go directly to the athletic departments.
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At places like Ohio University, athletic fees run students $48 a credit hour. To continue to fund such high-price athletic programs, school budgets have to be balanced out somewhere. That is $400,000 a year. The new short above by Brave New Films entitled The Big Game: College Football Stealing Your Education explains just how that happens.
But the problem becomes even more convoluted when faculty budgets and school programs are added into the equation. All the massive programs do is create die-hard fans that want to come to the school, and in turn are used to make the programs even more massive…not to bring more money to academics.
We are in a college debt crisis. One of America’s favorite pastimes is essentially draining the lifeblood and the future wealth out of the next generation and few realize it. The ones who entice students to come because of their strong tradition of football? Many of those see over 70 percent of their income paid for by student credit hours. And contrary to critics, who believe licensing and boosters bring in the majority of funds for the department, most big football programs see over half of their budget come from student fees. That means that a typical student will use almost $6000 of financial aid or scholarships to pay for the athletic programs at their school. But their tuition did not go down. Watch the Brave New Films new short The Big Game: College Football Stealing Your Education. Most states with strong college football traditions and programs have increased tuition, on average, by 55percent with some as high 65 percent. Our alma mater’s were not created for us to provide their financial future, but to secure a financial future for their students.
Critics would argue that athletic programs bring so much to the school, that it is worth the money the students pay. Why has the cost and burden of debt for higher education risen so dramatically in just over 20 years? One of the answers is college athletics, namely football. In 1992, it was one-third of that average. University of Akron recently cut 215 jobs and $40 million dollars from their budget. But an even more disturbing trend emerges when the data is looked at closely. Almost 70 percent of college students graduate with approximately $30,000 in college debt. That’s two thirds of what their entire college debt would have been 20 years ago.
Locks Don’t Exist – “Anyone who has watched sports for about a month realizes that the difference between winning and losing, especially against the spread, can be infinitesimally small,” Gordon says. Research Football Services – “Most sports services realize that most people who sign up with them are insecure,” Gordon warns.
8. “If you become an expert on a smaller conference like the WAC, you have a good chance to beat the house because sports book operators do not have the time or resources to follow this conference the way you can. “Teams play inspired ball at home.
Betting on football games; whether it’s through a local bookie, an offshore Internet site or a Nevada casino (still the only legal place in America to make football bets), most of us have done it or know of someone who has. “He is not jaded by teams and does not bet with his heart. He loses year after year, according to Dan Gordon, a top football handicapper and author of How to Beat the Sports Books (Cardoza Publishing 2005). Not all games work according to this formula, but it is usually a good rule of thumb.”
“The biggest mistake that amateur bettors make is they increase their bets when they are losing,” Sevransky says.
“A sharp or smart has a plan of what he wants to do,” says Vaccaro, the director of sports operations and public relations at Lucky’s Race and Sports Book in Las Vegas. But, when you’re struggling, that’s when you want to reduce your bet size until you get out of your slump. “In trying to bamboozle potential customers, many services make claims about having scouts all over the country that give them inside information and promise 70 or even 80 percent winners, as if the bookmakers were the biggest suckers in the world. “For example, if you have a $1,000 bankroll for the season, you should generally bet no more than $50 a game.”
“A square or recreational player might have a vague plan, but after two Corona’s he will definitely run to the window and make a hasty decision on the USC-Notre Dame game because he wants to be involved in the party atmosphere,” Vaccaro says.
Newspapers and popular sports sites routinely publish the lines or point spreads for games, and football insiders offer their picks to viewers each week on ESPN and other cable networks. Slim underdogs regularly win outright. “Thus, the bookies love and cherish the squares.”
9. So underdogs tend to be slightly undervalued – except by the sharps.”
Certainly not back into the pockets of the average bettor.
But even though the math says it’s virtually impossible to win on a consistent basis, Americans continue to bet on football. “If you listen to their advice, you are sure to lose. In fact, sports bettors must pick 52.4 percent winners just to break even.”
Although exact figures are impossible to calculate, according to Jimmy Vaccaro, widely considered to be Las Vegas’ most influential bookmaker, Americans probably wager more than $50 billion a year on NFL and college football combined. And why not? We have unconditional love for the sport and betting $50 or $100 on a game adds an extra rush of adrenaline. The only touts bettors should consider are the ones who talk about the long haul and realistic winning percentages, which are in the upper 50 percent to lower 60 percent range.”
But that doesn’t mean you have to bet like a “square” and throw away your hard-earned money.
7. Avoid Chasing Bets – “Don’t do it! There is no worse way to mismanage your bankroll than to chase your bets after a losing day,” cautions Moseman on the dangerous practice of trying to immediately win back your losses.
“Most people with an understanding of football gambling bet between 3 percent and 5 percent of their bankroll, increasing when they win and reducing when they lose,” Vaccaro says. He is not taken in by being involved in USC-Notre Dame just because it is the biggest watched game of the day. “When you’re in a good rhythm and winning, you want to increase your bets. They use powerful computers that can process millions of bits of data and produce a more accurate point-spread line than the bookmakers.”
While these tips don’t guarantee you’re going to win, hopefully they can make you a little less square and a little more sharp in your picks this season. “Because alcohol clouds your judgment and usually helps you to make rash decisions you usually wouldn’t otherwise make. Money Management – “This is without a doubt the most important aspect of betting on sports and possibly the most neglected,” says Morey “Doc” Moseman, a professional gambler and sports consultant with DocSports.com for nearly 40 years.
However, Konik adds that there are some bettors who actually know how to beat the bookies. “Over the course of several seasons, the percentage of bettors who turn a profit is minuscule.”
2. Shop For Numbers – “Another important aspect of betting on football is shopping for the best number,” Moseman explains. The only locks that exist are those that need keys to open them.”
“The standard bet requires gamblers to lay $11 for every $10 they want to win with the extra $1 or 10 percent known as the juice,” Konik says. “Squares usually bet later in the week and they tend to pick the favorites.
Another difference between squares and sharps is how they approach betting on game day.
Michael Konik, a sports writer and best-selling author of The Smart Money (Simon & Schuster 2006), explains why it is so hard for the recreational gambler to win at betting on football.
6. Drinking and Gambling Don’t Mix – “There is a reason the casinos in Las Vegas supply you with free drinks while you are gambling,” Moseman says. The payout is just the same as far as he is concerned. “Most people prefer to bet on the ‘better’ team, the one that will probably win the game. The NFL, for example, will have very similar numbers at most of the betting shops you visit. Avoid Exotic Bets – “For very skilled handicappers, with a proven track record, there can, at least in theory, be value in betting parlays,” says Gordon on the type of bet that combines two or more individual wagers. “In the NFL, a game will often be totally turned around by one or two plays, or even a single penalty. Also, being “in action” can make a dull late-afternoon game (Buffalo vs. “The key to proper money management is to be sure not to bet more than you can afford to lose.”
“A square is the average, unsophisticated gambler whose decision making is based on hunches, media manipulation, or spurious systems that cannot overcome the bookmaker’s inherent mathematical advantage,” Konik explains. Chasing losses is the fastest way to the poor house.”
“In an average season, fewer than one bettor in twelve turns a profit,” Gordon says. There are almost an infinite number of scenarios that can happen in a single football game.
So, how much are we gambling each football season?
“The talking heads on TV know nothing about sports betting,” says Sevransky. Bet at the Right Time – “The sharp bettors tend to bet underdogs, and they tend to bet them early,” Moseman says. Giving 11 to 10 odds is almost always the cheapest price you can give.”
And remember, in the immortal words of “Fast” Eddie Felson, “Money won is twice as sweet as money earned.”
“The bookies fear and despise a tiny coterie of professional bettors known as ‘the sharps,’” Konik says.
4. Big underdogs often find ways to cover the spread and they rarely give up toward the end of a game in front of the home crowd.”
. There is a wealth of information on the Internet; it is just up to you to find it and research it daily.”
So, is it possible for the average square to become a little sharper in making football bets this season? According to professionals like Vacarro, Konik and Gordon, amateur bettors have the best chance to win if they demonstrate a little patience and follow the 10 basic tips below. “The sharps are usually members of a betting syndicate privy to the most up-to-date information on injuries, weather, game plans, and, most important, the real power of the teams involved. Otherwise, you’re better off doing your own research.”
Also, it’s probably a good idea to disregard advice from the myriad of ex-players and football experts you see on television each week. Thanks to the juice, the only one who profits in this scenario is the bookmaker.
Ted Sevransky, a well-known Las Vegas gambler and sports consultant with Sportsmemo.com, agrees.
“There is probably no better bet in sports than playing an underdog at home,” Moseman says.
10. If North Texas is his best bet on a Saturday then that is his bet. “There will be more discrepancy in the numbers at different sports books. On college you will be able to find different lines at different sports books.
So, how much should you bet a game?
Even Hollywood is not immune – think Two for the Money with Al Pacino and Matthew McConaughey.
And where does all that money go?
1. “Common wisdom says that over the course of a long football season the average man or woman will pick approximately 50 percent winners. To be a successful sports bettor you need to operate with a clear mind.”
5. If you are going to go with a favorite, it is best to place your bet early in the week when the sharps are laying heavy money on the points. Consider Underdogs – “In the long-run, it’s easier to win betting on the underdog,” Konik says. “As for me, the best bet in football is betting the point spread or over/under totals on individual games. Oakland comes to mind) seem like the Super Bowl. If you want advice about sports betting, find someone who has a successful track record. If you like an underdog, it is best to get your bet in as late as possible, where there is heavy action from squares on favorites. These books change their numbers according to the betting patterns of their customers, so it is not entirely uncommon to find two or three point differences in the lines.”
Moseman agrees and especially likes home underdogs. Focus on Conferences – “The best way to win money betting football is to develop a niche and follow it closely,” Moseman advises
Just a few pre-tips beforehand: The best time to trade a race is around 10 minutes before the off. Certainly I got caught out a number of times when I first started.
Alright, so you’ve got yourself a Betfair account, you’ve downloaded Bet Angel or Gruss as your betting interface, had a little dabble, but still aren’t sure what you need to be looking for in order to start making some money. If you place a bet and the market moves against you, don’t hold on and on, hoping it will come back into profit, eventually letting the race start – you will end up losing a large chunk of cash. You can also “feel” that the market isn’t moving as it should, as the back bets are often gobbled up faster than you would expect.
For instance, Horse A is running in the 5:10 at Galway. Indeed, how you take your losses – and there will be some – is just as important as making the wins count. This is when the action starts and liquidity markedly increases. Horse racing prices move where the money dictates. If there is a significant amount on the back side of the book, the price is going to ger shorter (get lower). This can of course be repeated until the market catches up.
1) Follow The Money. Its price is 12.0 on the lay side and 20.0 on the backside. Essentially, what you need to look out for are two empty price increments. You now place bets at 7.2 and 7.4, meaning you in essence control both sides of the book and it’s very likely both sides will be taken, leaving you with a small profit. Note also that making around £2 to £3 per race would give you a profit at the end of the day of around £50 – not bad for a few hours work. Consistency is the key.
5) DO NOT, UNDER ANY CIRCUMSTANCES, LET YOUR BET GO IN-RUNNING. Nonetheless, this is one of the more fullproof ways of making small, consistent profits.. Similarly, if there is a large amount on the lay side, the price is likely to go out (get higher). This is more suited to Irish racing, where there is lower liquidity, meaning price movements are far more pronounced. This is where you place your bet – a lay stake at 13.0 to 13.5.
Essentially what happens is a bettor on Betfair will place a large bet on one side of the book – let’s say it’s on the back side, as that is the usual scenario (although it does happen frequently both ways). This is much easier to do using the “Ladder” interface view on Gruss or Bet Angel. Now, this bettor who has placed the large bet, takes these back bets, lets it run for a little while, then places a series of large lay bets, forcing the price back out. Well, here are my top tips on how to “read” the pre-race horse racing markets and as such start to make a profit, while minimising the potential for losses.
With practise, this technique is relatively easy to spot, as spoofers tend to use far larger sums that is usual on Betfair. This is something to watch out for when following Tip 1 on this list. The trick is to watch for the build up of these positions – comes with practise – and dip in ahead of them, then ride the price movement to a nice profit.
3) Speculate On Large Price Movements. Simply take the loss and move on. Now, I understand that many of you will ignore this.
4) Look Out For “Spoofers”. If you lose, don’t let it upset you, simply forget about it and move on to the next race…
For example, you see Horse A is trading at 7.0 on the lay side and 7.6 on the back side. If it gets taken, you then place a back bet at anywhere between 16 and 18, and if that gets taken you secure a nice profit. This causes all the traders who got in thinking they could ride the back side to jump ship, forcing the price out even more as each one fights to minimise their loses. If the market does move against you it is still easy enough to close out for zero loss. This will cause a number of traders to pile in ahead of it (following the money), forcing the price down.
2) Look Out For “Gaps” In The Market. And it’s tax free. It’s probably a good idea to trade horses with prices between 10.0 to 17.0 to start with, as at these levels the market is easier to “read”. While not as useful a tool as it once was, exploiting “gaps” can still be a very profitable addition to any betting system. You notice that there have been a few nibbles at around 13.0. This tip involves looking for large gaps in the market, seeing where money has been taken (a feature of the betting software) and placing your bet accordingly. I know I did, but it is a stupidly risky thing to do and should be avoided at all costs. Fact.
It’s worth pointing out that these types of bet can take some time to be filled, and practise is needed if the price starts bouncing around
LAS VEGAS, Nevada (CNN) — Think of a game. He wanted a grand on Kerry.
One woman and her husband wanted to bet $100 on Kerry (Last of the big spenders there.) Another man would bet a thousand dollars on Bush. The presidential election is just the big enchilada in this respect.
On everything, that is, except the U.S. Now try to put a bet on it. There’s a fair chance that in Las Vegas someone will give you odds and take your money.
The Web site makes it clear that the odds are being offered for information and entertainment purposes only and that using this information is a violation of federal law.
Welcome to Las Vegas. “Superbowl-type sums would be bet. “You look at any place around the world, whatever country you want to go to and you can bet on almost anything. She offered up three.
Even though the odds mean no-one will make a fortune unless they bet a great deal of money, a quick non-scientific poll on the Las Vegas told me he might be right!
But of course, Las Vegas didn’t get to be the gambling capital of the world without being canny.
It is against the law in Las Vegas (and thereby everywhere else) to bet on the outcome of the race for the White House.
Why? No-one seems entirely certain, but it probably has something to do with it being unseemly to bet on something as important as the White House.
And he is of the view a lot of money would be wagered. But he talked it well and probably could have talked me out of the busfare home.
So for instance, Web sites like Americasline are giving odds out on who will win on November 2.
And they show the two are absolutely equal.
And even though you can’t bet in the city, and no casino is giving you the chance, there are plenty of betting services that are offering up the odds on this years race.
“I think it is absolutely ludicrous. Because what this means is that in places where on-line betting is allowed like the UK, or offshore betting jurisdictions like the Carribean, these odds are being used as a barometer for those who are betting on the outcome.
Frankly I wasn’t sure he had the price of a cujp of coffee. presidential election.. ” He told me. I think we should be allowed to bet on the presidency. Any game. Hundreds of millions of dollars” he says.
Not that will worry those overseas too much. Just don’t bet on who will be president!
Well, he knows a great deal more about the subject than me.
But proving that Las Vegas is the last of the big talking towns — one man said if he had a hundred million dollars he would bet a million on Kerry.
Some members of Congress believe all spread betting is immoral and should be banned. One couple even got into an intra-marital bidding war
to bet against) as well as to back an outcome. It is in principle the same as the arbitrage using different bookmakers. Although arbitrage betting has existed since the beginnings of bookmaking, the rise of the Internet, odds-comparison websites and betting exchanges have made the practice easier to perform. However, frequent punters may be subject to a discount of up to 60%, i.e.
This type of arbitrage takes advantage of different odds offered by different bookmakers. However, repetition of this stroke of luck is unlikely, assuming the bookmaker has calculated the odds so they make a profit. Thus, the risk of seeing bets revoked is also often much higher for arbitrages found via such tools than for arbitrages found manually, that are not shared with other arbitrage bettors.
Arbing often involves making use of bookmaker bonuses which usually require substantial transactions before being eligible for withdrawal, thus reducing total liquidity.
Foreign currency movements can wipe out small percentage gains and can make quick calculation of stakes difficult.
Transferring funds between bookmakers and ewallets may create additional costs at some point; most bookmakers and/or ewallets limit deposits to certain amounts per month.
Withdrawals are often limited to a certain amount per month or to a certain number of free withdrawals per month
Withdrawals are often charged for, not just on the side of the bookmaker, but sometimes also on the ewallet side (transfer to the bettor’s bank account).
In some countries, additional costs are imposed by government taxes, so that the final profit is further reduced by a fixed percentage of say 5% (Germany/Europe).
Professional arbitrage betting may eat up considerable time and energy and requires lots of experience and liquidity, as well as sufficient funds to recover from inevitable losses that will happen sooner or later due to the aforementioned reasons.
Typically, arbitrages have a profit margin of only 2-5% – many other arbitrages are regarded as “high risk” (“palps”). Arbitrage using only the back or lay side might occur on betting exchanges. Websites and bet placement interfaces differ between bookmakers, so that arbitrage bettors need to be familiar with different web interfaces. Accordingly, profits accumulated through 20-40 successful arbitrages can be lost on a single failed bet.
Won arbitrages realized via betting exchanges are typically subject to a commission fee of about 4-5%. Without rapid alerting and action, it is possible to fail to make all the “legs” of the arbitrage before it vanishes, thus transforming it from a risk-free arbitrage into a conventional bet with the usual risks involved. The table below introduces a number of variables that will be used to formalise the arbitrage models.
Arbitrage is an extremely fast-paced process and its successful performance requires lots of time, experience, dedication and discipline, and especially liquidity.
From Wikipedia, the free encyclopedia
Betting arbitrage, miraclebets, surebets, sports arbitraging is a particular case of arbitrage arising on betting markets due to either bookmakers’ different opinions on event outcomes or plain errors. Arbitrage using back and lay side is possible if a lay bet on one exchange provides shorter odds than a back bet on another exchange or bookmaker. Expected Values and variance in bookmaker payouts: A Theoretical Approach towards setting limits on odds. On the other hand, these changes also made it easier for bookmakers to keep their odds in line with the market, because arbitrage bettors are basically acting as market makers.
In Britain, a practice has developed in which highly experienced “key men” employ others to place bets on their behalf, so as to avoid detection and increase accessibility to retail bookmakers and allow the financiers or key arbitragers to stay at a computer to keep track of market movement.
Back-lay sports arbitrage is often called “scalping” or “trading”. a game which can be won, lost or drawn) having the odds o1displaystyle o_1 for Outcome 1, o2displaystyle o_2 for outcome 2 and o3displaystyle o_3 for outcome 3 with their respective bids being b1displaystyle b_1, b2displaystyle b_2 and b3displaystyle b_3 and sum of the bids being B.
Shop arbitrage (sharbing)
In case outcome 1 comes out, one could collect r1=$100*1.43=$143displaystyle r_1=$100*1.43=$143 from bookmaker 2. Numerous online arbitrage calculator tools exist to help bettors get the math right. Retrieved 19 March 2014.
^ “How quickly is temporary market inefficiency removed?” Ben R. In the context of sports arbitrage betting a scalping trader or scalper looks to make lots of small profits, which in time can add up. This effectively reduces the odds, in decimal format, by 1. By avoiding most of the turnover requirements in this way the player can usually expect a 70-80% return on investment.
3 See also
Shop arbitrage (also known as sharbing or shop-arbing) is the process of using a betting shop’s coupons and a betting exchange to create an arbitrage position. Bonus sport arbitraging is a form of sports arbitraging where the bettor hedges or backs their bets as usual, but since they received the bonus, a small loss can be allowed on each wager (2-5%), which comes off their profit. They offer the following Fixed-odds gambling on the outcomes of the event:
Reducing the risk of human error is vital being that the mathematical formula is sound and only external factors add “risk”. Journal of Prediction Markets. For an example of an event with only two possible outcomes (e.g. “Reward without Risk? An Introduction to Arbitrage Betting and the Asian Handicap”. In case outcome 2 comes out, one could collect r2=$36.67*3.9=$143displaystyle r_2=$36.67*3.9=$143 from bookmaker 1. a minimum commission rate of 3%).
Smaller betting exchanges may not be able to deal with consistently winning punters.
Mathematics of bookmaking
^ Cortis, Dominic (2015). In the long term, the benefit will depend on the odds. This discrepancy can be used to obtain a profit.
So for 2 odds o1displaystyle o_1 and o2displaystyle o_2, where o1-1+o2-1<1displaystyle o_1^-1+o_2^-1<1. For example, one could actually make more money by placing the “wrong” bet where the outcome happens to be beneficial, though not justified by the arbitrage calculation. In some cases the situation arises when there are very high potential payouts by the bookmaker, perhaps due to an unintentional error made while quoting odds. a passport/ID copy). While making deposits is usually made easy and quick, making withdrawals often requires proof of identity in the form of passport/driver license, copies of which need to be shared with the bookmakers via fax/email or even postal mail, which causes additional identity theft risks. Since most bookmakers offer these bonuses this can potentially be exploited to harvest the sign up bonuses.
For arbitrages involving three outcomes (e.g. In theory a trader could turn a small investment into large profits by re-investing his earlier profits into future bets so as to generate exponential growth. If one wishes to place stake s1displaystyle s_1 at outcome 1, then one should place s2=s1*o1/o2displaystyle s_2=s_1*o_1/o_2 at outcome 2, to even out the odds, and receive the same return no matter the outcome of the event.
Many bookmakers offer first time users a signup bonus in the range $10-200 for depositing an initial amount. Scalping relies on liquidity in the markets and that the odds will fluctuate around a mean point. In some sports different bookmakers deal with outcomes in different ways (they differ in their handling of – for example – player withdrawal due to injury in tennis, overtime in ice hockey), meaning that both “legs” can lose. 1. These arbitrages can have a lifetime of several hours.
Hackers: Due to the large number of accounts that have to be created and managed (containing personal details such as email, name, address, ewallet, credit card information and often even a copy of the bettor’s ID/passport or driver’s license), arbitrage traders are highly susceptible to cyber fraud, such as bank account theft. This is made possible because online prices change quickly to close these positions and betting shops are slower to change the prices on their printed coupons.
The bookmaker’s return rate is 1-(1.25*3.9)/(1.25+3.9)=5.34%displaystyle 1-(1.25*3.9)/(1.25+3.9)=5.34%, which is the amount the bookmaker earns on offering bets at some event. Many bookmakers may now be using shared security servers in order to pinpoint people suspected of arbitrage betting; they can simply limit stakes to make arbing unprofitable and even close accounts without honoring a bet that was placed. a tennis match – either Federer wins or Henman wins), the two bookmakers have different ideas of who has the best chances of winning. Traders are often attracted to high odds comparison sites that yield high percentage profits per stake (5-30%); this is often used by hackers to lure a high number of arbitrage bettors that then place large sums of money on these arb’s, only to lose all of the profit and even entire savings in bank accounts to hackers or untrustworthy websites, which may further use the gathered data to sell personal data to criminals.
Making errors as an arber: In the excitement of the action and due to the high number of bets placed, it is not uncommon to make a mistake (like traders on financial markets). Those errors might temporarily have an important impact. Loss of deposited money into a bookmaker could occur. Bookmaker 1 will in this example expect to earn 5.34% on bets on the tennis game. Usually these gaps will be in the order 8 – 12%. More often profits exists around the 4% mark or less.
While often claimed to be “risk-free”, this is only true if an arbitrage is successfully completed; in reality, there are several threats to this:
Bookmakers generally disapprove of betting arbitrage, and restrict or close the accounts of those who they suspect of engaging in arbitrage betting. Scalping is not actually arbitrage, but short term trading. For example, arbitrage calculators can handle calculations for both book arbitrage (“back/back” or “lay/lay”) and “back/lay” arbitrage opportunities on an intra-exchange or inter-exchange basis, and is free.
Or in other words, if there are two outcomes, a 1/1 and a 2/1, by covering the 1/1 with $500 and the 2/1 with $333, one is guaranteed to win $1000 at a cost of $833, giving a 20% profit. all outcomes) of an event, whose implied probabilities add up to less than 1. In the bettors’ slang an arbitrage is often referred to as an arb; people who use arbitrage are called arbers.
For an individual bookmaker, the sum of the inverse of all outcomes of an event will always be greater than 1. A key advantage to scalping on one exchange is that most exchanges charge commission only on the net winnings in a particular event, thus ensuring that even the smallest favorable difference in the odds will guarantee some profit.
The amount required to bet on each possibility in order to ensure profit can be calculated by
Arbitrage betting involves relatively large sums of money for 98% of arbitrage opportunities return less than 1.2%. The practice is usually detected quickly by bookmakers, who typically hold an unfavorable view of it, and this can result in half of an arbitrage bet being canceled. Marshall The Quarterly Review of Economics and Finance 49 (2009) 917-930
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The advantage over usual betting arbitrage is that it is a lot easier to find bets with an acceptable loss, instead of an actual profit. Mathematically arbitrage occurs when there are a set of odds, which represent all mutually exclusive outcomes that cover all state space possibilities (i.e. One would have invested $136.67, but have collected $143, a profit of $6.33 (4.6%) no matter the outcome of the event.
Betting exchanges such as Smarkets have opened up a new range of arbitrage possibilities since on the exchanges it is possible to lay (i.e. 1.25-1+3.9-1=1.056displaystyle 1.25^-1+3.9^-1=1.056 and 1.43-1+2.85-1=1.051displaystyle 1.43^-1+2.85^-1=1.051
Disappearance of arbitrage: Arbitrages in online sports markets have a median lifetime of around 15 minutes, after which the difference in odds underpinning them vanishes through betting activity. The idea is to find odds at different bookmakers, where the sum of the inverse of all the outcomes are below 1, meaning that the bookmakers disagree on the chances of the outcomes. However, the commission charged by the bookmakers and exchanges must be included into calculations.
Stake in outcome 1
Stake in outcome 2
Odds for outcome 1
Odds for outcome 2
Return if outcome 1 occurs
Return if outcome 2 occurs
Other potential problems include:
As well as spending time physically matching odds from various bet sites to exchanges, the other draw back with bonus bagging and arbitrage trading in this sense is that often the free bets are “non-stake returned”. 9.
^ Keynes, Milton. Arbitrage betting is almost always insufficiently profitable due to detection, unreliable betting websites, limiting of stakes, hackers, and scammers that use high percentage arbitrages to trick bettors into providing security credentials.
1.1 Using bookmakers
1.2 Back-lay sports
1.3 Bonus sports
1.4 Shop arbitrage (sharbing)
There are a number of potential arbitrage deals. However, it is relatively time consuming to find close matched bets or arbitrages, which is where a middleman service is useful. When conditions allow, by placing one bet per each outcome with different betting companies, the bettor can make a profit regardless of the outcome. TBR. As many bookmakers require a certain turnover of the bonus amount, matching money from different bookmakers against each other enables the player to in effect quickly “play free” the money of the losing bookmaker and in effect transfer it to the winning bookmaker. Matching terms for all bookmakers is time consuming, requires lots of expertise and experience, while still being fairly error-prone.
Detection: There are very few bookmakers who openly tolerate arbing. For example, the appropriate stakes may be incorrectly calculated, or be placed on the wrong “legs” of the arb, locking in a loss, or there may be inadequate funds in one of the accounts to complete the arb. Therefore, in order to reduce “losses” on the free bet, it is necessary to place a bet with high odds, so that the percentage difference of the decrease in odds is minimised.. Making a return involves many bets spread over typically many bookmakers and keeping track requires good record-keeping and discipline.
Responding to an available arb may require transfer of funds from one bookmaker to another, through one or more ewallet accounts with each withdrawal requiring special approval.
While there are commercial software products and web services available to help with some of these tasks, they are complicated and may involve significant initial investments and monthly subscription fees.
Arbitrage bettors using software tools or web services to find arbitrages will often make an existing arbitrage even more prominent and obvious to the bookmaker because of the number of arbitrage bettors placing bets on the same outcome, so that the lifetime of an arbitrage found via such tools is often even much shorter than the average 15 minutes. Many jurisdictions allow bookmakers to cancel bets in the event of such a “palpable” ["obvious"] error in the quoted odds This is often loosely defined as an obvious mistake, but whether a “palp” in fact has been made is often the sole discretion of the bookmaker.
Placing a bet of $100 on outcome 1 with bookmaker 2 and a bet of $100*1.43/3.9=36.67displaystyle $100*1.43/3.9=36.67 on outcome 2 at bookmaker 1 would ensure the bettor a profit.
By signing up to various bookmakers, it is possible to turn these “free” bets into cash fairly quickly, and either making a small arbitrage, or in the majority of cases, making a small loss on each bet, or trade. The bettor can repeat the bet that has been cancelled so as minimize the risk, but if he cannot get the same odds he had before he may be forced to take a loss. This usually leads to unprofitable arbing as the most successful bookmakers are so adept at identifying arbitrage bettors.
Stake reviewal: Some bookmakers are known to accept only very small stakes by default, while requiring larger stakes to be manually reviewed before being accepted, which basically makes it difficult for an arbitrage better to determine if a leg was completely accepted or not, until it may be too late.
Bet cancellation: If a bettor places bets so as to make an arbitrage and one bookmaker cancels a bet, the bettor could find himself in a bad position because he is actually betting with all the risks implied. Below is an explanation of some of them including formulas and risks associated with them. High street bookmakers however, offer their odds days in advance and rarely change them once they have been set. They typically demand that this amount is wagered a number of times before the bonus can be withdrawn. In this way the bookmakers wagering demand can be met and the initial deposit and sign up bonus can be withdrawn with little loss.
Arbers’ dedicated email addresses are subject to advertising campaigns from third parties which suggests that client data may be resold behind the scenes.
Bookmakers who encourage responsible gambling will close accounts where they see only large losses, unaware that the arbitrage trader has made wins at other books.
Capital diffusion is serious; many bookmakers make it very easy to deposit funds and difficult to withdraw them (requiring lots of additional information, and documents as proof of identity, i.e
He’s working on “Gone in an Instant,” a documentary about his personal boom-to-bust tale. He was named to the All-Star team three times and won the top prize in pro basketball with the Miami Heat in 2006.
“I gave them whatever they wanted and spoiled them.
Walker filed for bankruptcy in 2010. Walker quickly became a basketball superstar.
Related: Ex-NFL star: ‘I had to start over and pick up the pieces’
Cars, jewelry and homes: As with many other sports stars, instant wealth meant instant luxury for Walker. That’s how you lose your wealth real bad at the beginning,” Walker said.
The hope is that these “real-life parables” from Walker and Scott will educate the younger athletes, Drew Hawkins, head of Morgan Stanley’s global sports and entertainment division, told CNNMoney.
1) Get the word “no” in your vocabulary when dealing with friends and family. We had a ton of undeveloped real estate. “You can still enjoy your life to the fullest, but let’s preserve some of that wealth for your kids — and for their kids,” Walker said.
“These individuals are forced to make decisions as teenagers and these decisions impact them for a long time,” said Hawkins. A year later he pleaded guilty to felony bad check charges, according to court filings. You can’t do that,” Walker said. It went bad.
“I created a very expensive lifestyle.
Before the age of 20, he had won the NCAA basketball championship and was selected by the Boston Celtics as a top pick in the 1996 NBA Draft. The banks wanted their money back,” he said.
“We got caught in the recession.
Related: Tiger Woods is THE worst highest-paid athlete
Real-life parables: Now that he’s out of bankruptcy, Walker is working to educate future sports stars.
Given his humble beginnings, Walker wanted his friends and family to enjoy his riches as well.
CNNMoney (New York) First published July 24, 2015: 9:29 AM ET
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Related: Andy Roddick: Safe investments can be sexy
Real estate firm goes bust: The real catalyst, Walker said, was the Great Recession.
But like many professional athletes who experience a sudden explosion of wealth, it was all gone in an instant. Walker and former NFL linebacker Bart Scott recently teamed up with Morgan Stanley Global Sports & Entertainment to bring real-life lessons to today’s players. He estimates he helped about 30 people move to “better situations.” He gave cash to many of them — often without holding them accountable. “Be prepared to use that word a lot,” he said.
As if that wasn’t bad enough, Walker had unwisely put up his personal financial portfolio as collateral.
But first Walker had to figure out how he went from fat NBA paychecks to financial rock bottom. Walker didn’t serve jail time due to a plea agreement, but the former NBA star was ordered to pay off gambling debts.
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Thanks to his on-the-court success, Walker made more money playing the sport he loved than he could even dream of when he grew up in a poor Chicago neighborhood. Instead of thinking about the future, he spent lavishly on cars, jewelry and homes.
“I thought I was set for the rest of my life,” Walker told CNNMoney.
2) Think about the future, not just the here and now. Despite pulling down more than $108 million during his career, Walker filed for Chapter 7 bankruptcy in 2010, just two years after retirement. “It ended up being an open ATM throughout my career.”
He also lost large sums of money gambling, although Walker insists this wasn’t the main cause of his financial collapse and that media reports are overblown. He ended up being forced to pay back about $20 million to banks. “My story is sad.
Advice for today’s stars: Walker has two simple pieces of advice he hopes the younger generate walks away with. The economic chaos caused the implosion of Walker Ventures, his Chicago real estate firm. It’s sad to see other guys work so hard throughout their life — and then they just lose it in two or three years.”
That’s why Walker, now 38, is now working to steer young athletes away from the mistakes he made.
As part of his gig with Morgan Stanley, Walker recently spoke to athletes at Boston College and the Seattle Seahawks about his mistakes
“The abnormal stock market volatility has revealed an immature market, inexperienced investors, an imperfect trading system, and inappropriate supervision mechanisms,” Xiao said at an annual meeting. Beijing will release GDP data for 2015 on Tuesday.
On Friday, the yuan had weakened sharply offshore, opening up a gap of more than 1 percent with the steady onshore market.
China’s central bank tightly manages the onshore market by setting a daily target for the yuan, which is allowed to trade within a 2-percentage point band either side.
A senior dealer in Shanghai suggested that the RRR move “will help drain yuan liquidity offshore, and will dampen banks’ interest in conducting offshore yuan business”.
The People’s Bank of China (PBOC) said it would start implementing a reserve requirement ratio (RRR) on offshore banks’ domestic deposits, in a move that seemed intended to soak up additional liquidity.
The offshore yuan CNH=D3 was trading at 6.5855 per dollar, around 0.1 percent softer than the onshore spot rate.
China’s major share indexes have lost 16-18 percent so far in 2016, taking them back to around the levels plumbed in August, when the market slumped more than 40 percent in a summer crash.
Chinese equities had tumbled on Friday, with the Shanghai index closing lower than at any time since December 2014, leaving most investors who put their faith in Beijing’s measures to end last summer’s crash nursing losses.
(Reporting by Pete Sweeney, Samuel Shen and Shanghai and Beijing newsrooms; Writing by Alex Richardson; Editing by Neil Fullick)
The spot market CNY=CFXS opened at 6.5800 per dollar on Monday and was changing hands at 6.5790 by mid-afternoon, 0.08 percent firmer than the previous close. His remarks were published on the CSRC website.
Xiao Gang, head of the China Securities Regulatory Commission (CSRC), pledged over the weekend to strengthen oversight of the market.
“The market sees that this is a gesture by the PBOC to warn speculators that are betting on a fast depreciation of its currency,” said Zhou Hao, senior emerging markets economist for Asia at Commerzbank AG in Singapore.
Setting an RRR – requiring banks to hold a certain level of currency in reserves – could tighten liquidity leaving less yuan for banks to lend and so making it more expensive for speculators to bet against it.
But sentiment remained fragile, with analysts expecting further turbulence ahead.
A turbulent start to 2016, with currency and stock markets tumbling, has stoked concerns that Beijing’s policymakers are in danger of fumbling as China heads toward its slowest growth in 25 years. The central bank had set a firmer tone by raising the mid-point to 6.5590 CNY=SAEC..
Monday’s move by the PBOC was seen by some as being – at this stage – more of a symbolic warning to banks, aimed at discouraging them from being too active in yuan dealings as part of its broader campaign to deter those betting offshore that the currency will fall.
SHANGHAI China’s yuan rose on Monday as the central bank announced a fresh move to deter offshore speculation in the currency, while stocks rebounded modestly from near levels last seen at the depths of last year’s summer crash.
China’s currency has fallen around 5 percent since August, and while most analysts expect further weakening the authorities have been loath to allow it to depreciate too fast.
After recent jitters about the health of the world’s second-biggest economy, investors took some comfort from data that showed a continuing recovery in the housing market.
Confusion over China’s foreign exchange policy and its commitment to reforms has sparked mayhem in financial markets in recent weeks, as the PBOC allowed the yuan to fall sharply in early January and then moved aggressively to try to steady it.
Ever-contrary, China’s notoriously volatile stock markets opened sharply lower on Monday but reversed course to buck the global trend, with the benchmark Shanghai Composite Index .SSEC and the CSI300 index .CSI300 of the largest listed companies in Shanghai and Shenzhen both edging up 0.4 percent.
“After experiencing the crashes last year, the sentiment is quite vulnerable and pessimistic now,” said Xiao Shijun, an analyst at Guodu Securities in Beijing.
Global markets have also tumbled in January, with Asian shares sliding on Monday to their lowest levels since 2011 following weak U.S
Gere digs so deep into this flawed tycoon that we come to understand Robert’s actions without for a minute forgiving them. And Gere nails every nuance in a role that holds up a dark mirror to the way we live now. At 62, he is at the peak of his powers. It’s an implosive tour de force.
“Arbitrage” is such a movie, a sinfully entertaining look at the sins committed in the name of money. She can’t rock his composure. Jarecki has an eye for the telling detail, not surprising given his start with the 2005 documentary “The Outsider” (about rogue director James Toback). There’s enough plot here to stuff a miniseries or three, yet “Arbitrage” never descends to bland and predictable. Credit Jarecki, whose combustible directing debut gives “Arbitrage” the charge of a thriller and the provocation of a moral fable. Good job on that, since he’s just lost $400 million in a bad copper-mine investment, and if he can’t cover it up and unload his company on a major bank, his career will go kaput along with his fortune. Fraud puts pressure on Robert’s skill at deceiving wife Ellen (Susan Sarandon), French mistress Julie (Laetitia Casta) and chief accountant Brooke (Brit Marling), who also happens to be his daughter. Docs run in the Jarecki family, with half brothers Andrew (“Capturing the Friedmans”) and Eugene (“Why We Fight”) making notable contributions to the genre. And the glamour in his field of vision — cheers to cinematographer Yorick Le Saux (I Am Love) for the sheen and composer Cliff Martinez (Drive) for the seductive mood — is tempting enough to make us all complicit.
Like the best movies, “Arbitrage” persuades us to ask tough questions about ourselves. As the son of two commodities traders, Jarecki has Wall Street in his DNA. No Academy love, not even for his sinister brilliance in “Internal Affairs,” “American Gigolo” and “The Hoax,” or for the battered heart he brought to the cheated-on husband in “Unfaithful.”
Story highlightsRichard Gere stars as a fraudulent financier in the filmCritic says Gere’s performance is “a thing of toxic beauty”The movie also stars Susan Sarandon and Laetitia Casta
It’s instructive to note what a killer actor Richard Gere can be when a movie rises to his level.. And it resonates in his exceptional screenplay, which potently captures the gleaming seduction of Robert’s world and the fear that festers underneath.
Gere’s performance in “Arbitrage” is too good to ignore. Despite his box-office success in crowd-pleasers such as “An Officer and a Gentleman,” “Pretty Woman” and “Chicago,” Gere has long been underrated. But Gere gives us a window into the soul of a man who finally realizes that even money will no longer help him lie to himself. But Robert keeps his cool until the sudden death of one of these women has him dodging a possible murder rap with the grudging help of Jimmy Grant (a terrific Nate Parker), the son of the family chauffeur and the only black man in Robert’s circle of white privilege. And Gere knows the man, inside and out. That’s when NYPD detective Michael Bryer (Tim Roth) smells a rat and Robert’s world begins to unravel.
Jarecki knows the territory. Wearing the trappings of wealth like a second skin, Gere invites us to see what Robert sees. Watch him in the scene when Sarandon — in full, feisty flower — hits Robert with a lifetime of resentments. True, this territory has been covered from Wall Street to last year’s “Margin Call.” But Gere and first-time director Nicholas Jarecki put a tantalizing spin on what goes on in the head of a fraudulent hedge-fund manager when he decides to stick it to the rest of us, including his own family.
Gere’s Robert Miller is the picture of unflappable elegance. His rapt, watchful performance is a thing of toxic beauty. For proof that we’re in financial hell, look around
The most important step is to force the individual to see there is a serious problem. It may be issues at school with children. Internet addiction has taken so many years to become established due to the disbelief many have over its legitimacy. Most internet addicts do have an ulterior motive for being online so much. What is it that causes this? What are the symptoms? Many people mistakenly believe it’s merely a penchant for checking email or losing track of time while playing a game. Some may have complete alter identities through the internet. They must not only endure the emotional “mess” they must clean up after their loved one.. They may exhibit personality qualities much like “Dr. Internet addiction is completely curable and there’s no reason to endure it any longer.
It’s fairly easy to spot internet addiction. It may be serious problems in the workplace due to inattention or inactivity. It may be a private method for indulging in what is actually a gambling or pornography addiction. They watch their loved ones morph into someone else. If you try to talk to them, you will be ignored. Fighting Internet Addiction
Internet addiction is a very real condition that affects households worldwide. Hyde.” They are horrible to live with offline, but as long as they have that connection, they are relatively normal.
The greatest tragedy to it all is that those around the addicted individual are the real victims. Internet addiction is not the same and it’s consequences can be far more devastating. They see the mood swings and make excuses to others. The best time to act is now.
They want complete privacy when they are online. This can be skyrocketing bills from gambling or substances. Many internet addicts, however, aren’t classified with any of these more typical vices. Substance abusers may find it easier to purchase their drug of choice through the internet.
There are individuals who like to use the internet as a method of escape from their daily lives. The addicted individual withdraws from real people and becomes more focused with individuals they know online. The “fix” is pretending to be someone else. They often make excuses to stay home more, but when they are home, they may seem apprehensive or depressed until they can find a good reason to go online.
Any addiction becomes an actual “addiction” when it negatively affects the lives of both the addict and all those around them.
It often requires professional help to break internet addiction. Jekyll / Mr. Many will not even stop to talk with people who are visiting. This form of addiction is completely psychological