Matching The Gee Gees

[SharpeShooter]

As requested by Bull, a quick guide to matching the Gee Gee's (How I do it at least). Beware that it is much more volatile and has complexities such as rule 4. Personally I don't worry about rule 4 as it can work for you as well as against you. I have lost £7 on a qualifier that should have been pennies, I've also returned an extra £6 on a SNR bet. It tends to even itself out BUT don't do this if you can't accept losing more than you thought you would

The bigger the meeting or race, the greater the competition between the bookies and more liquidity on Betfair. At 11 am most races on betfair have between 2 - 20,000 matched, for ascot this was more like £250,000.

At the off there is usually £300,00 - 600,00 and again for ascot more like £3-4m. This made ascot great for arbs and I made >90% on EVERY SNR I did and on some >100%

When the bookies publish their early prices get on quickly and look for an arb. Glancing Betfair you'll soon realise which of the days meetings will attract the money. You can normally find a least 1 arb or narb and often 3 or 4 races will have an arb in them. Get your bet and lay in place as with any other sport.

[bull]

I will have a few questions to ask at some point...but thanks for the starter.

BTW did you see this:

http://www.newsoftheworld.co.uk/news/38 ... tfair.html

[SharpeShooter]

Now where we make the extra profit. If we can find arbs or narbs with other bookies in the same race we can cash in, so long as one of our backs wins. If we don't back the winner we have still placed 3 or 4 qualifying or free bets as usual. Horses are great as you can turn your money round quickly and place lots of bets in one day. I have just completed the Bet365 basket for a second time and I completed it in a week. Not only this but I made £180 from it too !! (a 5% loss on every qualifier and 20% loss on every free bet would return £120)

So, if you have several bets in place on one race and one of the horses wins you will have a net loss at betfair. This means that every horse you layed that didn't win, you pay no commision on your winnings giving you extra profit.

As an example

Back Horse 1 @ 3.0 £50 qualifier and lay at 2.9 £52.61
Back Horse 2 @ 8.0 £25 qualifier and lay at 7.6 £26.49
Back Horse 3 @ 12 £50 SNR free bet and lay at 12.5 £44.17

Worst case scenario another horse wins and your bets all return at betfair assuming 4.9% commision

Horse 1 £50.04 (4p profit)
Horse 2 £25.19 (19p profit)
Horse 3 £42.01 (£42.01 profit from free bet)

Assume horse 1 wins

Horse 1 £100 win at bookmaker £99.96 loss at betfair (4p profit)
Horse 2 £26.49 (1.49 profit)
Horse 2 £44.17 (£44.17 profit)

Total extra profit £3.46

Odds like these are pretty easy to find. Now try replacing the odds on the SNR with back at 17 lay at 15. These are more common than you might think.

Profit from Freebet if we don't back a winner is £50.89 (101.78%) and if horse 1 or 2 wins £53.51 (107.02%)

[RIT]

I will have a few questions to ask at some point...but thanks for the starter.

BTW did you see this:

http://www.newsoftheworld.co.uk/news/38 ... tfair.html

This story seems a bit suspect to me. As one of the comments says "you cannot lay a horse for £1.5m @ 6-4 (2.5) with Betfair because every time you placed a lay bet for a few 1000, the price would move down until it reached 1.01. If you decided to wait for the price to return to 6-4 (2.5) the race would have started."

Also it says he got started by borrowing "a few thousand". Well with the amounts he supposedly won it must have been a very big "few" or it would have taken him years to build up to £20 million.

But hey, at least my oddsmatcher has just started working again after being off for the last 2 weeks.

[SharpeShooter]

The Bet365 4/1 offer !!

I did this for the first time just this week as I couldn't get my head around it. I didn't use it at all in making the £180 from the bet basket. Basically if you back a winner at odds of 4/1 or better in one of their feature races, Bet365 will give you a free SNR bet to the value of your stake. Combinr this with the bet basket for maximum profits. I can't take the credit for this method but can vouch it works.

Find an arb or narb. I found a Back at 5.5 and lay at 5.4

In your matcher add 0.8 to the back odds so

Back £50 at 5.5 in tha matcher add 0.8 so your matcher will say

Back £50 at 6.3 Lay £58.87 at 5.4

If you horse loses you've made a qualifying bet and made £5.98 profit on the bet

If you horse wins you've placed a qualifying bet, gained an extra £50 SNR bet from which you should make at least £40 and lost £34.03, so after your SNR you'll be £6 up on the qualifier.

Note the £50 SNR HAS to be placed on the next feature race

[RIT]

If you want to carry on receiving reloads in the future from Bet365 I would give this a miss SteveSharpe.

I was doing this for about 4 weeks and they then said I am banned from this offer and I will not receive any offers in the future even though I was mainly losing there and making them loads.

I know this has happened to other people also.

As their advert says - "keep finding those winners and we`ll keep giving you free bets". Yeah right !

p.s. guess how many posts I have now made on this forum. Yep 365.

[SharpeShooter]

If you want to carry on receiving reloads in the future from Bet365 I would give this a miss SteveSharpe.

I've read about people hammering this offer and getting banned from it. I was thinking of making 1 bet a week for a bit of extra profit. Do you know if there is a maximum stake Bet365 will match as i couldn't see one in their terms.

This week I made £11.96 from a £100 bet. I figured If I do 1 £250 bet then it would be like having an extra £25 SR bet weekly.

This story seems a bit suspect to me. As one of the comments says "you cannot lay a horse for £1.5m @ 6-4 (2.5) with Betfair because every time you placed a lay bet for a few 1000, the price would move down until it reached 1.01. If you decided to wait for the price to return to 6-4 (2.5) the race would have started."

I don't really believe the story but I don't get how this would force the price down. If you offer £1m at odds of 2.5 then that is the odds on offer to all backers until that £1m has gone or someone offers higher odds. The odds are driven down when demand outstrips supply, not the other way around.

I'm sure their are people who've made millions out of Betfair, but not using this system. If you've ever tried trading tennis in play the money matched reaches millions and in the French open final I seem to think £14m was traded in total. I traded about £300 in £20 bets so never risked more than £20 at a time, so someone with a bigger risk tolerance could easily trade £30,000 in £2,000 bets or even £3m in £200,000 bets (The liquidity is their in big games to do this)

[RIT]

I have never seen a horse race on betfair where there is enough liquidity match £1.5m on a single horse.

[SharpeShooter]

Like I said, I don't believe the story, but I do believe their are Betfair Millionaires out there, just not using this high risk system. I wouldn't risk £100 with his way of doing things

[Alan]

Ive just started looking at this and like you said there are plenty of arbs going about but im still a bit confused about the risk factor when it comes to backing and laying horses.

Lets say william hills was offering a horse at 8.00 and at betfair it was around 6.5 for quite some time.
Now lets say i back the horse at hills at 8.00 and lay it off at 6.5, what are the risks involved?
Football seems to be pretty much risk free but with horse racing i keep hearing of things like rule 4 etc.

Basically what are the pitfalls when it comes to backing and laying horses