How would you like to trade a market where you get large regular price swings every 10 minutes in the afternoon, seven days a week. A
market where all prices are set purely by supply and demand, few transaction costs, no middle men and you only pay commission if you win? Where you can freely act as a market maker and where you have direct market access and where you can create a spread for others to take?

Betfair has revolutionised the betting market and created an open platform for exchanging risk on sports events. This market is now viewed much more like a traditional financial risk market than an old fashioned betting market. Smart users have realised that there are huge opportunities on Betfair because they can buy and sell risk in much the same way they would in a normal financial market but without the burden of cost or the restricted access that is usually associated with traditional financial markets.

Click here to learn more

This is copied from bet365's rules:

"Dead-heats

Where two selections dead-heat half the stake money is lost and the full odds are paid to the other half. If more than two dead-heat the stake is proportioned accordingly."

This coincides with my view, on the assumption of course that you can read into it that the stake on the winning bet is returned.

If it isn't I can't see how it is correct!

WOODIE - I think it's worth phoning them again to have them specifically confirm that they DON'T settle these bets like conventional bookies.

Effectively they are not reimbursing the winning stake and I just can't see how that's right - or fair. It might be worth waiting for Fundy's response to my 8499 first though as he has a lot of experience!

just received another email as follows
Dear Michael

Thank you for your e-mail.
The explanation that was given to you regarding dead heat settlement
correct. We have always settled dead heats in this way, as we also
have layers to protect when betting on the exchange. For a further
explanation of Betfairs dead heat rules, please click on about us,
and scroll down to dead heat rules.

Please do not hesitate to contact us if you have any further

Woodie

If it was with a conventional bookie you would have staked a 100

This would be settled as 50 win at 2/1 = 150 return and a 50 loss meaning a return of 150 from a stake of 100 and a resultant 50 profit

On betfair your account should have initially been debited with 100 for the bet and when the result was known should have been credited with 150 (including your original stake). If you check your P&L for the event it should show a 50 profit and if you check your account statement you should see the 100 debit for the bet and the 150 return (less commission)

Can you let us know exactly what is on your p&l and account statement for this event

I am sorry - I have had my knickers in a twist!

When the first bet was talked about as being 3s, I subsequently treated it as 3-1 (in English money), overlooking completely that it was Betfair. In fact the bet is at two to one.

So my old fashioned system produces half of SP 2 = 1 less half of one ie. 0.5 = 0.5 to your stake. Equivalent to two to one on. So you win 50 plus your stake of 100 back (using my method of course) and Betfair and everybody else is right.

Really sorry if I raised your hopes WOODIE.

sorry for late reply copy of my statement
Group B Buick Invitational / Top 5 Finish / L. Glover
Back 200.00 3.00 Won 100.00
no commision taken fundy your verdict if this is the correct amount there was 4 players tied for 4 th place in 5 place market. sorry i gave the earlier odds and stake for the other golf tournement the qater masters.

Anyone on the cricket this am?

SA have 2 wickets left but need another 114 runs of 48 balls.

They better not do it otherwise I'll be down the swanny!!

Famous last words, but it looks safe to me.

Thank you Aussies :-)

Won by a massive 80 runs.

2.10 at Fontwell

4 horses traded at 1.2 or below in running, with the prices of the 3 losers going as low as 1.06,1.16 and 1.20

Favourite in the last at Fontwell went from 1.2 to 1.79 then back to 1.41 pre race :-)

my biggest ever 1 race profit :-)

Nice one Steve. Sorry I wasn't watching

Well done Steve.

I wonder if the Egypt football match in the African nations is still going ahead. Anyone heard anything?

Steve...Excellent stuff.

Green on Egypt :-)

Well done to you too Bak. It's working then.

So far so good but I think timing is critical.

Cheers guys

John - shame you werent here to see that one :-)

congo almost 1-0 up inside 10 seconds

"Favourite in the last at Fontwell went from 1.2 to 1.79 then back to 1.41 pre race :-)"

Well done Steve.

I was watching it very closely, there have been some interesting races this week. It's been a good one. Didn't do as well today as other days but I know some people have had a cracking week on the horses.

Arsenal seem to be falling apart ready the press this morning, what on earth is going on over there?