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I got closed down by BET365 last week. I had about 10 or 12 bets and won £900. I was basically told to go away.
Technology allows bookmakers to get very accurate pictures of customers; doubtless they use some projection software too.
I wouldn’t blame them for closing accounts they deem unprofitable, or potentially so; I think, in their position, many of us would do the same.
Bookmakers are scum who only welcome losers, it’s hard to see what benefit they bring to either racing or punting.
Can’t help thinking we’d all be better off with a Tote/exchange monopoly for the sport.They are supposed to be bookmakers, they should lay off any liabilities they can’t handle. If they keep on closing down anyone who makes a profit. word will spread and even the mug punters won’t bet with them. Do they not realise that mug punters don’t know they are mugs, they think that they can make it pay! God knows there are enough of us on here.
I've stumbled on the side of twelve misty mountains
I've walked and I crawled on six crooked highwaysTechnology allows bookmakers to get very accurate pictures of customers; doubtless they use some projection software too.
I wouldn’t blame them for closing accounts they deem unprofitable, or potentially so; I think, in their position, many of us would do the same.
Thank goodness you are not a bookmaker. It hardly explains closing losing account does it, or for that matter ones that have made a relatively small profit? Perhaps instead of the adverts ‘I’ll have a tenner on the favourite’ they should explain what sort of bets they want and at the same time actually offer an explanation as to why accounts are being closed.
Technology allows bookmakers to get very accurate pictures of customers; doubtless they use some projection software too.
I wouldn’t blame them for closing accounts they deem unprofitable, or potentially so; I think, in their position, many of us would do the same.
Thank goodness you are not a bookmaker. It hardly explains closing losing account does it, or for that matter ones that have made a relatively small profit? Perhaps instead of the adverts ‘I’ll have a tenner on the favourite’ they should explain what sort of bets they want and at the same time actually offer an explanation as to why accounts are being closed.
Many punters seem to think that bookmaker means the opposite of what it says. A Bookmaker’s job is to make a book balance so a profit is guaranteed.
When people who are refused a bet say ‘He’s not a real bookmaker!’, they actually mean he’s not a real punter.
Margins on horse-racing are tiny for bookmakers and they need micro managing.
I’m not saying all the algorithms in their monitoring software are perfect, but if you were running a business, any business, and some aspect was flagged up as hurting your very marginal profits or likely to hurt your profits soon, what action would you take?
I am constantly amazed at how some bookmakers make the game pay. Bet 365 for example. They like to offer best price on every horse in certain races mid-morning. But by doing this they’re often betting to an under-round. ie It’s possible to back every horse in the race with them and still make a profit!
If a punter beats SP by an
average
of over 20% he/she is likely to have their account closed. It doesn’t even have to be a winning account Stilvi. It is just that if you’re beating SP by an
average
of over 20% they know you’re very likely to be making money soon.
Bookmakers are a business. They’re in it for the money, even if they’re providing us with an excellent service.
Bookmakers are the only shop you can come out better off than you went in. If you did that at M&S or Harrods or Asda they’d soon ban you from shopping there.
Value Is Everythingif you were running a business, any business, and some aspect was flagged up as hurting your very marginal profits or likely to hurt your profits soon, what action would you take?
Have you ever run a business pal?
I would be annoyed but intrigued, and would very much covet access to their business model – what am I doing wrong that you’re doing right? – priceless information that in the real world results in spying and espionage
In our queer little world it would seem bookmakers either have the cocksure and all-too-British blind belief that their tissue (business model) is correct, or else they’re plain stupid
Information (overlays) freely supplied by knowledgeable competitors – heed well and adjust your information (underlays) accordingly
And make every effort to keep this valuable source of alternative thought both content and willing to show his hand
i.e. lay the clever loss-leading bets and learn: ignore and/or dump at your peril
Droe – it’s not quite so simple. Some bookmakers are very hard to beat e.g. Pinnacle because they consistently price correctly . But British bookmakers allow exploitable loopholes in each way terms, best odds guarantees, arbitrage with exchanges, lucky 15 bonuses etc. They do this to attract mugs and keep the arithmetic simple. The downside is people exploiting the loopholes but they mitigate this by aggressively restricting and closing profitable accounts.
Now it may be that there are some genuinely insightful punters who make money on straight bets and they would be potentially useful sources of info. But I don’t think they would bother much with bookmakers when exchanges give better odds. Also they have been known to manipulate so-called guile accounts (see Veitch autobiography) so it’s probably simpler just to cut them off when they start making money.
Can anyone offer any reasons why they would choose to close the account?
Because they’re mug-hunting ****?
Edited:
Bookmakers are the only shop you can come out better off than you went in. If you did that at M&S or Harrods or Asda they’d soon ban you from shopping there.
Bizarre logic
Bookmakers are the only shop you can come out better off than you went in. If you did that at M&S or Harrods or Asda they’d soon ban you from shopping there.
Bizarre logic
Why so EC?
If you legally kept on coming out of Asda with shopping that was worth more than you paid for; they’d soon ban you.
Value Is EverythingBookmakers are scum who only welcome losers, it’s hard to see what benefit they bring to either racing or punting.
Can’t help thinking we’d all be better off with a Tote/exchange monopoly for the sport.Absolutely no way imo.
If you’re talking fixed odds: With one bookmaker there’d be little or no competition. They’d work to a bigger over-round and so harder to make a profit for us punters.
If you’re talking pool odds: I don’t want to back anything I don’t know the price of.
The "advantage" of exchange odds is vastly exaggerated / non existent allowing for exchange commission and when compared to best early prices in the "village".
Value Is Everything30 Minutes before the big Group 1 at Deuaville last weekend (Prix Jean Romanet) the PMU guide was as follows:
1,50 Timepiece
2,30 Announce
5,0 Lily Of The Valley
12,0 Fleur Enchantee
14,0 Divine MusicCompare this with Industry SP’s of:
2,0 Timepiece
3,50 Announce
4,33 Lily Of The Valley
29,0 Fleur Enchantee
34,0 Divine MusicBookmakers are like any business they only want customers who they can make money out of – if they can’t make money out of you why would they lay you a bet?
As for Bet365 they have a very successful business built primarily around live betting on sports, be it football, rugby, cricket, volleyball, basketball etc and centred primarily on European customers – racing is a very small part of the business and as such they can afford to give customers a longer run so to speak before deciding on whether they’re worth keeping or not than other firms.
Bookmakers are scum who only welcome losers, it’s hard to see what benefit they bring to either racing or punting.
Can’t help thinking we’d all be better off with a Tote/exchange monopoly for the sport.Absolutely no way imo.
If you’re talking fixed odds: With one bookmaker there’d be little or no competition. They’d work to a bigger over-round and so harder to make a profit for us punters.
If you’re talking pool odds: I don’t want to back anything I don’t know the price of.
The "advantage" of exchange odds is vastly exaggerated / non existent allowing for exchange commission and when compared to best early prices in the "village".
If you’re so successful with bookmakers Gingertipster why do they keep taking your money? You’ve also got to look at the bigger picture, are they good for the sport?
Horse racing has made a lot of bookmakers very wealthy men, a lot of that money should have been going to the sport rather than into their pockets.Bookmakers are the only shop you can come out better off than you went in. If you did that at M&S or Harrods or Asda they’d soon ban you from shopping there.
Bizarre logic
Agreed.
I’m sure that Asda wouldn’t mind if a few people came out of their shop with more than they went in with if the majority went in, paid their money and came out empty handed.
VC have just closed my account, without even writing to tell me so. Boylesports closed one after I won a modest sum and Stan James have now restricted me to stakes less than £10. If they saw the state of my other accounts they might change their mind. I know it’s illogical but I can’t seem to back a winner with Ladbrokes and can’t seem to back a loser with VC. If Bet365 – who I have been really impressed with – restrict me I’m not sure what I’ll do. I don’t want to go back to Betfair on principle (premium charge) but unless Betdaq increase liquidity soon I may have to. Either that or give up betting but I love the challenge and the hard work of research, study and note taking that it would be a shame to do so. So what to do?!
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