[AusRace] Betfair

[Shane Baker]

This whole topic is a bit convoluted to my way of thinking;

My understanding is that you pay maximum 5% commission on winnings 
(profits);

For BACK bets this means the dividend for direct comparison to TAB's and 
other bookies would be;
((BF Win Div - 1) x 0.95) + 1   or   (BF Win Div x 0.95) + 0.05
eg $6.80 BF Win Div = $6.51 TAB div for comparison purposes.

For LAY bets you simply pay 5% of your complete LAY stake if your bet wins 
(ie if the horse looses).

It's no more complicated than that is it?

Shane.

----- Original Message ----- 
From: "Race Stat" <racestats at hotmail.com>
To: <ausrace at it.net.au>
Sent: Sunday, August 19, 2007 07:07 PM
Subject: Re: [AusRace] Betfair


> To get all this into perspective, often on big race days, many favourites
> will be matched at or very close to TAB prices.
>
> I just don't understand the psyche of people that match bets at those 
> prices
> either way, because they are both backing and laying at worse odds than 
> the
> TABS and Bookies when 5% commission is added on.
>
> It happens day in and day out. Of course there may be other reasons why
> these amounts are matched, but in the longrun - you just cannot win at 
> these
> odds.
>
> I don't think there's a punter alive who can turn a profit at 20% less 
> than
> the TAB price - maybe I'm wrong.
>
> Lindsay.
>
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