History will be made this weekend, with BETFAIR providing betting "during the race" on selected Caulfield races, which will be the first time this has occurred in Australian racing. For thi Saturday, it will be operating on the Group races on the Caulfield program.
While a number of punters will join the majority by simply backing runners late in the race when they look certain to win, or laying runners that look certain to lose, there are other, less-competitive ways to profit from "in-play" betting.
For example, if you selection has drawn a wide barrier, you may wish to place half your normal bet before the event starts, and then place double your bet should your horse get a great run in transit, taking a slightly shorter price. Or you may back your selection if you think it is certain to lead, and then lay it off mid-race at a reduced price on Betfair, as on-pace runners generally trade lower than their starting price, provided that the pace is not breakneck.
Whatever method you choose, Trackdata advises to pay close attention to the following rules when betting "in-play" with BETFAIR:
a) Professionals will spend money in obtaining the fastest vision possible, so within the next six weeks, you should assume that you are at least one to two seconds behind the pros in what you see on television.
b) Currently, the least lag time will be on Free To Air (Channel Nine, Channel Seven, etc) VIA HOME AERIAL, followed by SKY, with TVN having the longest lag. Don’t even attempt to bet "in-the-run" by watching vision online. Naturally, you should check your own broadcasts personally to confirm the lag times.
c) Punters on-course will be in the best position visually, but most will not have the technology to get the most out of this advantage.
d) Specialist software will give you a great advantage over those that use the BETFAIR internet website. A number of possible options for all your BETFAIR needs can be found at the official BETFAIR solutions page:
http://solutions.betfair.com/index.php/Sports/Trading/
e) You cannot beat the pro’s by attempting to watch the whole field and making snap decisions. Concentrate on one, two or three runners only, and if circumstances don’t work out for an investment, wait for the next race.
f) Avoid getting involved in laying at 1000/1 and backing at $1.01 – for 99.9% of traders, the risks are not worth the rewards.
g) You will still need to your form study and preparation to beat the majority.
h) "In The Run" betting provides a number of great betting opportunities for those who seek the appropriate advantages, do their homework, and look for value investments. However, the pitfalls are many. Dip your toe into the water to begin with.
Punters should also remember the following two true examples, before getting too heavily involved without previous experience in the UK, for which "in-play" betting has been operating for many years.
* In a five horse steeplechase, traders laid the first runner to fall at an obstacle at big odds, only for all of the remaining horses to also fall, with the rider of the original faller climbing back on and completing the race in first position.
* In a flat race, traders heavily supported at $1.01 what looked a certain winner who had a five length lead, only to find out on the winning post that the camera did not show a runner on the outside rail who actually bolted in.
Closer to home, on Caulfield Guineas day three years ago, the Bart Cummings trained God's Own looked to almost fall on the home turn, yet somehow managed to stay on his feet and catch Paratroopers in the shadows of the post to gain victory. There are no certainties for "in-play" betting.
There may be a lack of liquidity to begin with for the first few weeks, which is to be expected. However, these are certainly exciting times, and may add another profitable income stream for those who endeavour to make money from Betfair in Australia.
For further information, & a free $50 Bet, please visit the BETFAIR website now: BETFAIR IN-PLAY TRADING.
Kevin Skene, TRACKDATA, 10/10/08, 06.00PM
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SHREWD PUNTERS ABOUT TO SCORE BIG