covers.com, partnership, and betting exchanges etc
November 11th, 2013 at 3:14:27 PM
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Was wondering if the odds posted on www.covers.com are correct for tonights game
they supposedly have Tampa Bay + 3.5 @ -110, at The LVH
and Betfair have Miami - 3.0 @ about + 115.9*
* this is the "real" betfair price after a commission of 5% (the price you see on betfair is $2.22 /or/ about + 122)
since i don't live in vegas, i was wondering if the spread and price at the LVH is correct, (+3.5, -110)?
if this is true, it seems like a no brainer to me that a partnership or something like that could be used to exploit it,
also, i don't know how often these situations occur, but if it is only once a week (or even two weeks) it still seems like a pretty good idea
lastly, i know US players can't use betfair at the moment, which is part of the reason why i am looking to form a partnership
ps i know there is not enough time for me to do it for this game, but if you already have a friend with a betfair account or something, then YOU still have enough time to do this, if the LVH post is correct
they supposedly have Tampa Bay + 3.5 @ -110, at The LVH
and Betfair have Miami - 3.0 @ about + 115.9*
* this is the "real" betfair price after a commission of 5% (the price you see on betfair is $2.22 /or/ about + 122)
since i don't live in vegas, i was wondering if the spread and price at the LVH is correct, (+3.5, -110)?
if this is true, it seems like a no brainer to me that a partnership or something like that could be used to exploit it,
also, i don't know how often these situations occur, but if it is only once a week (or even two weeks) it still seems like a pretty good idea
lastly, i know US players can't use betfair at the moment, which is part of the reason why i am looking to form a partnership
ps i know there is not enough time for me to do it for this game, but if you already have a friend with a betfair account or something, then YOU still have enough time to do this, if the LVH post is correct
November 11th, 2013 at 3:27:18 PM
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The current line at the LVH is Miami -2.5 -110.
The line moved from -2 to -2.5 at 12:16pm, and has not changed since.
The line moved from -2 to -2.5 at 12:16pm, and has not changed since.
Talent hits a target no one else can hit; genius hits a target no one else can see.
November 11th, 2013 at 3:31:11 PM
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post deleted, because of gambling tax rules, sorry for wasting your time
November 11th, 2013 at 3:38:06 PM
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Quote: ksdjdj
and Betfair have Miami - 3.0 @ about + 115.9*
* this is the "real" betfair price after a commission of 5% (the price you see on betfair is $2.22 /or/ about + 122)
Please spare me/us the research and advise what you mean by "commission of 5%". Thanks
November 11th, 2013 at 3:40:34 PM
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must be a problem on www.covers.com, there it say +3.5
November 11th, 2013 at 3:44:44 PM
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betfair charge a maximum of 5% on profit (per market) at the moment, so if you are getting + 122, then you are really getting +115.9 (+122 x 0.95)
November 11th, 2013 at 3:51:08 PM
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if you had plenty of cash behind you, you could possibly get around the tax, by not cashing in your ticket straight away and 'hoping' that the wins and loses would even out,
but you still have plenty of risks (see below),
1. how long many weeks/months you have to collect on your ticket
2. you could win all or most selections at the vegas casino and then have to pay the tax on them
3. plenty of other risks not mentioned
ps this is all pointless now anyway, since someone posted that the spread and odds are +2.5 -110 @ LVH
but you still have plenty of risks (see below),
1. how long many weeks/months you have to collect on your ticket
2. you could win all or most selections at the vegas casino and then have to pay the tax on them
3. plenty of other risks not mentioned
ps this is all pointless now anyway, since someone posted that the spread and odds are +2.5 -110 @ LVH
November 11th, 2013 at 3:58:28 PM
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Quote: ksdjdjbetfair charge a maximum of 5% on profit (per market) at the moment, so if you are getting + 122, then you are really getting +115.9 (+122 x 0.95)
What about when you bet the underdog? Thanks. Seems this is a unique way of charging a vig, charging on a win?
November 11th, 2013 at 4:29:11 PM
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Incognito and Martin probably bet on TB tonight, lol.
December 3rd, 2013 at 2:03:20 AM
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sorry, about the late reply,
so if you bet on the underdog at +3.0, you would be betting 122 to win 95, instead of betting 100 to win 115.9 @ -3.0 on the favourite, (but betfair and other betting exchanges are usually close to 100% markets, and the com is like a 'brokerage' fee you pay to the 'betfair company', if you win)
so if you bet on the underdog at +3.0, you would be betting 122 to win 95, instead of betting 100 to win 115.9 @ -3.0 on the favourite, (but betfair and other betting exchanges are usually close to 100% markets, and the com is like a 'brokerage' fee you pay to the 'betfair company', if you win)
December 3rd, 2013 at 2:58:27 AM
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Quote: ksdjdjsorry, about the late reply,
so if you bet on the underdog at +3.0, you would be betting 122 to win 95, instead of betting 100 to win 115.9 @ -3.0 on the favourite, (but betfair and other betting exchanges are usually close to 100% markets, and the com is like a 'brokerage' fee you pay to the 'betfair company', if you win)
Read your reply, thanks. However, I'm still confused...let me ask a different way if I may...
If you win your wager, lets just say in a pick em game, you have normally with a bookie put down $110.usd to win $100.usd.
If you lose your wager, again the same pick em game, you have put down $110.usd(to win $100.usd) and lost that $110.usd.
So the question or confusion, are you saying that with some outlets you have to wager $115.usd to win $100.usd on a pick em game?
December 3rd, 2013 at 3:04:48 PM
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Betfair charged a commission on your total win in a particular market. 5% is the base rate and it is discounted depending on your turnover.
Eg. If you win $100 on a football game they charge 5% commission ($5) and your net win is now $95.
Eg. If you win $100 on a football game they charge 5% commission ($5) and your net win is now $95.
December 3rd, 2013 at 3:51:10 PM
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Quote: ksdjdj
sorry, about the late reply,
so if you bet on the underdog at +3.0, you would be betting 122 to win 95, instead of betting 100 to win 115.9 @ -3.0 on the favourite, (but betfair and other betting exchanges are usually close to 100% markets, and the com is like a 'brokerage' fee you pay to the 'betfair company', if you win)
Read your reply, thanks. However, I'm still confused...let me ask a different way if I may...
If you win your wager, lets just say in a pick em game, you have normally with a bookie put down $110.usd to win $100.usd.
If you lose your wager, again the same pick em game, you have put down $110.usd(to win $100.usd) and lost that $110.usd.
So the question or confusion, are you saying that with some outlets you have to wager $115.usd to win $100.usd on a pick em game?
-----------------------
in a pick em game, you would put 100 down and they would pay you 95* if you won
* Aussie is right when he said that 5% com is the maximum (net) amount you normally pay for sports bets in any single market, like say if you had $100 @ +100 on team A and then backed team B $50 @ +300, you would only pay only 5% on the net profit of $50, for that market
sorry, about the late reply,
so if you bet on the underdog at +3.0, you would be betting 122 to win 95, instead of betting 100 to win 115.9 @ -3.0 on the favourite, (but betfair and other betting exchanges are usually close to 100% markets, and the com is like a 'brokerage' fee you pay to the 'betfair company', if you win)
Read your reply, thanks. However, I'm still confused...let me ask a different way if I may...
If you win your wager, lets just say in a pick em game, you have normally with a bookie put down $110.usd to win $100.usd.
If you lose your wager, again the same pick em game, you have put down $110.usd(to win $100.usd) and lost that $110.usd.
So the question or confusion, are you saying that with some outlets you have to wager $115.usd to win $100.usd on a pick em game?
-----------------------
in a pick em game, you would put 100 down and they would pay you 95* if you won
* Aussie is right when he said that 5% com is the maximum (net) amount you normally pay for sports bets in any single market, like say if you had $100 @ +100 on team A and then backed team B $50 @ +300, you would only pay only 5% on the net profit of $50, for that market
