Skip to main content

Racing NSW case gets weaker, whining gets louder

Nothing new here, just more of the same acts of desperation from Peter V'landys and TABCorp.

Copyright is wrong strategy - Bill Saunders

Betfair, Racing NSW still at loggerheads

Betfair punts on revenue in NSW racing row

When I was teaching people how to use Betfair more effectively, sometimes you would just have to throw your hands up in despair when people couldn't work out for themselves that their strategy was completely flawed or they wouldn't learn from their mistakes. I once had a guy who thought it was a great idea to lay a horse at about 30, then if it looked like winning, back it back at 3. He couldn't work out why he'd lost about £50k....

In business, if you put all your eggs in one basket, ignore all the advice from educated people in the field and piss ridiculous amounts of money up the wall, you should be held accountable for it. But as per usual in a government-appointed racing body, it won't happen...

Comments

  1. And at the end of all this Racing NSW will be in the hole millions in legal fees. And will V'Landys and the rest be held accountable? No. With the TAB pulling the strings NSW he will be there until they need a fall guy

    ReplyDelete

Post a Comment

Thanks for your comments, but if you're a spammer, you've just wasted your time - it won't get posted.

Popular posts from this blog

Spot-fixing - you will never, ever be able to stop it

According to this report , IPL tournaments so far have been rife with spot-fixing - that is fixing minor elements of the game - runs in a single over, number of wides bowled etc. The curious part of that article is that the Income Tax department are supposed to have found these crimes. What idiot would be stupid enough to put down 'big wad of cash handed to me by bookie' as a source of income? Backhanders for sportsmen, particularly in a celebrity- and cricket-obsessed culture like India are not rare. They could come from anything like turning up to open someone's new business (not a sponsor, but a 'friend of a friend' arrangement), to being a guest at some devoted fan's dinner party etc. The opportunities are always there, and there will always be people trying to become friends with players and their entourage - that is human nature. This form of match-fixing (and it's not really fixing a match, just a minor element of it) is very hard to prove, but also, ...

lay the field - my favourite racing strategy

Dabbling with laying the field in-running at various prices today, not just one price, but several in the same race. Got several matched in the previous race at Brighton, then this race came along at Nottingham. Such a long straight at Nottingham makes punters often over-react and think the finish line is closer than it actually is. As you can see by the number of bets matched, there was plenty of volatility in this in-play market. It's rare you'll get a complete wipe-out with one horse getting matched at all levels, but it can happen, so don't give yourself too much risk...

It's all gone Pete Tong at Betfair!

The Christmas Hurdle from Leopardstown, a good Grade 2 race during the holiday period. But now it will go into history as the race which brought Betfair down. Over £21m at odds of 29 available on Voler La Vedette in-running - that's a potential liability of over £500m. You might think that's a bit suspicious, something's fishy, especially with the horse starting at a Betfair SP of 2.96. Well, this wasn't a horse being stopped by a jockey either - the bloody horse won! Look at what was matched at 29. Split that in half and multiply by 28 for the actual liability for the layer(s). (Matched amounts always shown as double the backers' stake, never counts the layers' risk). There's no way a Betfair client would have £600m+ in their account. Maybe £20 or even £50m from the massive syndicates who regard(ed) Betfair as safer than any bank, but not £600m. So the error has to be something technical. However, rumour has it, a helpdesk reply (not gospel, natur...