tofu Posted November 20, 2010 Share Posted November 20, 2010 Hey lads, just thought I would firstly say this is an excellent forum and I can't believe I have only just discovered it. Basically I am an experienced gambler, well at least I thought I was until I had a read through these pages! So I thought I might take this opportunity to ask some questions to you all; Spread betting- Can some explain to me what this is in very basic terms? Betfair- How does it work exactly? Straddle- What does this mean? Quote Link to comment Share on other sites More sharing options...
aliando Posted November 21, 2010 Share Posted November 21, 2010 Re: A few questions from a newbie... Spread betting- Can some explain to me what this is in very basic terms? spread betting is very different to normal betting. With normal betting, you either win/lose your stake (depending on the bet, you sometimes get your stake returned eg as in draw no bet). With spread betting, your stake is mulitplied by the number of points away from the spread offered - this may be easier to show in an example: Team A play Team B The spread for the number of bookings is offered at 38-42. Each spread betting bookie will give you information on how bookings are calculated, but it is often 5pts for a yellow, 10 for a red. if you think there will be lots of bookings, you could BUY bookings - this means betting on over 42 points. if you think its a game between vicars and cannabis smokers, you may decide to SELL bookings - this means betting on under 38 points. if the game finished with 3 yellows and no reds, it would mean a final score of 15 points. If you'd bought bookings, your loss would be (42-15) x your chosen stake (so, for a £1 stake per point, you would have a £27 loss). If you'd sold bookings, your winnings would be (38-15) x your chosen stake (so for a £1 stake, you would have a £23 profit). Of course if the final bookings total came to 40points exactly, everyone loses and the bookies have judged the market perfectly :ok The obvious attractions here is that your winnings can be multiplied x amount given a really good day - markets like runs scored in the cricket, for example, can provide a nice pay day. But, obviously, that works 2 ways and if the bet doesnt work out well, you could find you're in for a hefty loss. Most responsible spread betting indexes will offer stop-loss. This means that you know the maximum you can lose should your bet really go tits up. Equally it will maximise your winnings too but is a helpful way to start playing and understanding without as much risk. >Betfair- How does it work exactly? This is called an 'exchange' and is simply anyone betting against anyone else. You chose the odds, place your bet and wait to be matched. You can bet as a punter, or play like the bookie would and lay events (bet tht they will NOT happen). It offers us punters the possibility of higher odds than the bookies. Betfair take a % of any winnings made (normally 5%) and tht is how they make their money - all other winnings go to the successful punter. Straddle- What does this mean? if we're still talking sport then I better leave this to the horse racing people :unsure Quote Link to comment Share on other sites More sharing options...
tofu Posted November 22, 2010 Author Share Posted November 22, 2010 Re: A few questions from a newbie... Cheers mate, really good explanations. Spread betting seems quite complex to me but Betfair seems really interesting. Quote Link to comment Share on other sites More sharing options...
4hookes Posted November 28, 2010 Share Posted November 28, 2010 Re: A few questions from a newbie... Hi guys, I'm a total noob as well and hv some questions about Betfair, why are some punters not using it but use sites like pinnacle and bet365 etc? I've also seen punters who say they avoid bet exchanges, so what's the problem with exchanges like Betfair? Thanks in advance for the answers.:ok Quote Link to comment Share on other sites More sharing options...
clarky101 Posted November 28, 2010 Share Posted November 28, 2010 Re: A few questions from a newbie... Commission on winnings i would imagine Quote Link to comment Share on other sites More sharing options...
ONEDUNME Posted November 28, 2010 Share Posted November 28, 2010 Re: A few questions from a newbie... if we're still talking sport then I better leave this to the horse racing people :unsure I've been backing horses for decades. Straddle is a term I've never heard before. What's the context mate? Quote Link to comment Share on other sites More sharing options...
ONEDUNME Posted November 28, 2010 Share Posted November 28, 2010 Re: A few questions from a newbie... Betfair take a % of any winnings made (normally 5%) and tht is how they make their money - all other winnings go to the successful punter. Not exactly true. There is another "premium charge" over and above the regular percentage commission charge which is only payable if you are making a certain amount of profit over a certain time period. This is why a lot of punters have turned against betfair and look to use regular bookmakers where it is feasible. It's often quoted that betfair prices are better than bookmaker prices but, more often than not, you can find a better price with a regular bookmaker if you have enough accounts. Where Betfair had the advantage is that you are able to lay bets on there as well as place bets. Quote Link to comment Share on other sites More sharing options...
4hookes Posted November 28, 2010 Share Posted November 28, 2010 Re: A few questions from a newbie... Thanks everyone for the responses, i guess this forum truly is the best sports forum in the world, you get replies within...minutes. Thanks again! Quote Link to comment Share on other sites More sharing options...
davidc Posted November 28, 2010 Share Posted November 28, 2010 Re: A few questions from a newbie... Straddle- What does this mean? A quick google search reveals that straddle bets take place in poker. Straddle and sleeper bets. GL Quote Link to comment Share on other sites More sharing options...
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