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Guardian piece
I’m surprised it doesn’t cover and at some length, the effect on all off course bets.
https://www.theguardian.com/sport/2018/feb/18/odds-fixed-against-novice-betters-bookmakers
Definitely interesting, it’s a shame to see that they targeted a ladies’ day, pretty shameless. I would love to look at the industry, their prices and where and when the majority of the money is spent, can’t ever imagine much transparency though.
Pardon my naivety, but what do you mean by the effect on off course bets?
Tip of the Iceberg……this has been going on most weekends throughout this season on many major races.
Grand National 2017……”on course percentage 154%”
The biggest betting heat of the year for the general public.
How many of the 40 horses started bigger than opening show………4
horseshttp://www.skysports.com/racing/results/betting-shows/761078/aintree/08-04-2017/randox-health-grand-national
Ricco……Every single punter in the land who has not taken a price will be settled at SP
If that SP is lower than it should be……..the saving to all bookmakers is MASSIVE.
If there was just one Journalist in this sport…………Truly Rancid Practice.
I’ve never used SP’s, so again, excuse my ignorance, by how are they set?
I can understand fixing nice profit margins with a small number of book makers at quiet tracks, but surely at large meets, a bookmaker can make a killing by offering reasonable odds if the rest are ripping punters off, or is that getting in to “watch your kneecaps” territory.
Ricco,
Here’s taster on it from SPRC site.
“Rules for determining the Starting Price (SP)
The starting price for each horse is the market price at the off generally available to good money on the boards of those bookmakers in a sample whose each-way terms for a given race most closely reflect the each-way terms on offer for that race in the off-course retail market.a. Decision rule for calculating SP
For each horse in a race the prices on offer by all bookmakers in the sample are ordered into a list from longest to shortest. The list is then divided into two equal halves and the SP is the shortest odds available in the half containing the longest odds. The SP or a longer price will have been offered by at least half the bookmakers in the sample.b. Selected definitions
i BookmakerA bookmaker is defined as an on-course bookmaker betting in accordance with the Gambling Commission’s Licence Conditions and Codes of Practice. For the purpose of SP sample selection, these rules categorise bookmakers as SP Qualified or Non-Criteria. A SP Qualified bookmaker displays prices against every runner for at least ten minutes before the scheduled off time of each race and continues to do so up to the off. A Non-Criteria bookmaker does not display prices in this way.
ii Good money
Generally that offered by a Starting Price Qualified Bookmaker who, in the judgment of the SP Validator following consultation with the Betting Operator, is prepared to lay a single bet to lose at least £500 on each horse in a scheduled race at that meeting.”
Worth noting that on twitter the other day, Geoff Banks argued that the SPRC do not return SPs at tracks where SiS have the broadcast rights and that SiS use their own staff – he offered examples of SiS SP returns V SPRC returns (SiS noticeably shorter) but I don’t know how credible the claims are. The SPRC have always (under one name or another) been responsible for returning SPs. I know they used SiS reps on course to gather info on what was on offer, but it’s news to me that SiS are allowed to make their own SP independent of the SPRC whose website is here – http://www.thesprc.org/rules-regulations/
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