Betfair Starting Price

This is the forum where you can discuss any aspect of bookmaker injustices you wish. You start the topic and encourage others to develop it with you. Wherever possible do outline or attach evidence that supports what you are sharing, e.g. Live Chat text, screen grabs, emails, letters, etc. It may even become one of our future campaigns!

The other subject specific forums below, do give you ideas to think about, but if you want to post here, please do.

Any advertising for gambling services will be deleted and the user blocked.
Post Reply
shedders
Supporter
Posts: 3
Joined: Wed Nov 14, 2018 8:43 am

Betfair Starting Price

Post by shedders » Wed Nov 14, 2018 10:00 am

I placed a lay bet at BSP for a liability of £15. The horse lost at a BSP of 1.18 The bet was settled with a profit of £35.69. They say there was a reduction factor of 20% but the return seems very low to me. Are they right. Does anyone know how to calculate this? I asked for a breakdown but they sent an example with multiple reduction factors that confuses the hell out of me. Grateful if anyone can enlighten me.

Jimmy Justice
Site Admin
Posts: 594
Joined: Wed Jan 13, 2016 9:16 am

Re: Betfair Starting Price

Post by Jimmy Justice » Fri Nov 16, 2018 10:29 am

I've spoken to our man using no names. He's asked if you can provide full details of how they calculated the reduction factor, because it doesn't work like rule 4 for fixed odds. He thinks the return might be a tad low, but he can't work it out fully without seeing the figures used.

JJ

shedders
Supporter
Posts: 3
Joined: Wed Nov 14, 2018 8:43 am

Re: Betfair Starting Price

Post by shedders » Mon Nov 19, 2018 2:42 pm

I have been asking for full details of how they settled the bet but all I get is a reply saying the bet was settled correctly. I placed the bet on Oscars Ridge at 09.41 about 3 minutes or so before Forest Bihan was withdrawn. They say that gave a 20% reduction factor. Defeats the object of BSP for me if NR's hours before the race have this effect. Thanks for replying.

Jimmy Justice
Site Admin
Posts: 594
Joined: Wed Jan 13, 2016 9:16 am

Re: Betfair Starting Price

Post by Jimmy Justice » Tue Nov 20, 2018 9:24 am

Any views anyone?

shedders
Supporter
Posts: 3
Joined: Wed Nov 14, 2018 8:43 am

Re: Betfair Starting Price

Post by shedders » Thu Nov 22, 2018 10:08 am

I recieved this from Betfair. Does anyone know if it makes sense?

> _Essentially the bet stood because the original liability was over
> £10 and was only reduced below that due to adjustments made for the
> NR._
>
> _In terms of the calculations it’s impossible to be completely
> accurate because we don’t know exactly what the RF of Oscars Ridge
> was set to at 09:47am when the NR came out, and these are constantly
> changing as money goes in to the market, but it would go something
> like this:_
>
> _NR RF__ = 20%_
>
> _OSCAR’S RIDGE RF__ = 66% approx. (based on it trading around 1.5 in
> the market during that morning)_
>
> _BET LIABILITY__ = £15_
>
> _100% - 66% = 34%>_
>
> _20%/34% = 58.8%>_
>
> _100% - 58.8% = 41.2% * £15 = £6.30 liability which is near enough
> to the actual £6.40 he ended up with_

Jimmy Justice
Site Admin
Posts: 594
Joined: Wed Jan 13, 2016 9:16 am

Re: Betfair Starting Price

Post by Jimmy Justice » Fri Nov 23, 2018 4:25 pm

Any thoughts anyone?

JJ

Post Reply

Who is online

Users browsing this forum: No registered users and 0 guests