- This topic has 20 replies, 10 voices, and was last updated 8 years, 6 months ago by
.
- Posts
Coral extend lay to lose guarantee in shops
Sounds good – if you’re near a shop it might be worth arbing a £!00 16/1 e/w in a 16 runner handicap.
RACING POST
BY BILL BARBER 11:51AM 8 SEP 2015CORAL have announced an extension to the number of races in which the bookmaker will guarantee to lay bets to lose a minimum amount in their betting shops.
From September 9 the firm will from 11am daily lay all bets in what they describe as “good quality” races – Class 4 and above handicaps, Listed and Group/Graded races in the UK – to lose at least £2,000 per customer.
The firm last year announced they would guarantee to lay bets to lose at least £5,000 on all races shown on Channel 4.
Spokesman David Stevens said: “It’s important to reiterate that the overwhelming majority of bets offered up by our customers are laid in full at the prices on offer, but we accept that there is a perception in some quarters that bookmakers are not interested in taking bets to lose larger amounts.
“In reality that is simply not the case, but as with our £5,000 guarantee that we introduced a year ago, extending that policy will formalise the procedures in place for our retail customers on a significant number of UK horse races, as well as a selection of high profile international contests.”
Stevens insisted horseracing remained an important part of Coral’s business.
He went on: “Many punters do not place bets to win the amounts we are dealing with here, but plenty do want to, and to those people, we are saying Coral shops are the place to go.”
The guarantee will only apply to betting shops for now.
Stevens added: “Coral online and mobile customers already receive a number of offers that are unavailable in shops, including best odds guaranteed and ‘free bet if beaten by a head’, but due to the challenges of trading huge volumes of bets in a short space of time on this channel, we are not in a position where liabilities can be monitored and managed sufficiently for us to extend this offer to coral.co.uk customers.
“However we are not ruling out extending it to telebet customers at some point in the future.
Massive kudos to Corals. A fantastic development. Races of that profile should give Corals shop punters an average of 10 races a day to play in.
Lets hope its a huge success for Corals, and potentially a game changer for punters, if others follow suit.
Great news indeed.
Fantastic news and well done to Coral. I’m kind of hoping that Coral continue to be at least one bookmaking firm that are willing the play the game fairly. They put some others to shame. It’s a shame they can’t extend this to their online operation but to be fair I’ve never had a problem with them online either, (yet).
Their stance will gain them an awful lot of respect and hopefully customers and hopefully other firms will start to wake up and smell the coffee as to what being a bookmaker is / should be all about.
Someone just back from a Coral shop wanting an E/W bet in the St.Leger wasn’t laid and told “the guarantee is what it is, doesnt apply to ew bets”. Ol’ Joe will no doubt be turning in his grave !!
Not my favourite company. Haven’t had my account “closed” as such, but not being allowed to win more than £20 – just as well be. However, this guarantee should be applauded by everyone. At least I can have an hour’s round trip to my nearest Corals for an ante-post bet.
I take it win only ante-post bets are included?
Value Is Everythingdid email them about this,asked about if it applies to each betting,still waiting reply.lol
Didn’t take long for the compulsive negatives to emerge with their darkness…
We should be doing away with this bookmaker each-way nonsense. Stronger win pools and a friendlier overround are what we want.
Use Tote if you want to place bet.
ooooh Coral…
not knocking corals mate,just the fact they have not made it clear(imo) that its to WIN bets only
Mr Walton
Corals head of racing tweeted this a few hours ago…
Reminder from 11am, @coral shops now guaranteeing £2k win takeout to anyone in Class 4+ hcps, Listed/Group races. £5k C4 guarantee remains
You can check out his Twitter timeline here…
to old for all that twitter stuff,but did read it and an interesting discussing going on,thanks again for that link
Why would anyone take “advantage” of such an offer when they’re likely to be under the odds in 99.99% of cases.
For example in the opening post kasparov mentions backing a horse at 16/1 and laying it back. Yet it’s quite likely this 16/1 shot will be 20 to 25/1 on the exchanges.
It will be interesting to see some examples on here from pro posters taking “advantage” of this offer and what odds they could have had elsewhere when placing their bet with Corals, reckon the examples will be in short supply.
No surprise to find a Coral 4/1 “available” at 9/2 elsewhere on oddschecker. And understandable given the nature of the offer.
You’ll find the majority of “pro posters” more than happy with a monkey at fours, rather than the tenner they can have at 9/2 anywhere else.
Its a proper offer, Yeats. Credit where its due. Gone down well with the faces. Actually the more I think about it, its a pretty brave offer.
A Class 4 is not beyond the remit of the Curley gang, etc.
If it’s 9/2 elsewhere it will be bigger than that on the exchanges and quite likely nearer the race. You’d be mad to take 4/1.
It’s also been reported that lots of Corals shops now open at 9.00 despite their early prices only being available from 8.30, another scam.
Anyway I look forward to you and others posting their bets up that have taken advantage of this generous offer.
Lets have some examples, the only people that appear to be praising it don’t appear to be taking advantage of it.The only people benefitting from it will be Corals which is why it’s only available after 11.00am.
It you can have more than five bob on a 9/2 shot on Betfair at a time before 10 mins, let me know, Yeats. The problem is not the price, its the liquidity.
And listening to most of these “pro posters”, they don’t want to play in liquid exchange markets, because at stage their largely efficient. They want odds volatility.
I long ago made peace with the Betfair last 10 minute market, accept its almost correct, and attempt to screw a low single digit ROI out if it, and compensate with the larger turnover the ample liquidity allows.
This Coral offer keeps the older style punter in the game I guess, the argument being most will loose over time anyway, regardless of what time and how much they get on.
I don’t bet with conventional bookmakers, so the Coral offer makes no difference to me. But I’m glad to see battle rejoined as it were. For the good of the game, if nothing else.
If it’s 9/2 elsewhere it will be bigger than that on the exchanges and quite likely nearer the race. You’d be mad to take 4/1.
Best bookmaker Early Prices are often bigger than Exchanges at that particular time Yeats. And the point is this Corals offer is about good money. Where as early morning exchange prices on normal day-to-day racing usually lacks liquidity.
When taking commission and liquidity in to account – imo only nearer off time can exchange prices be considered better than bookmakers best prices. Yes, that’s if you can get on with bookmakers, but again – this Corals offer is a guarantee.
Value Is Everything
- You must be logged in to reply to this topic.