Cautionary Tale for Betfair users

[billvernon]

Found this and thought it was interesting - looks like there were 6 very happy punters after Binocular won 1000-1 dreams Six Betfair punters will be hoping Binocular does take his place in the Smurfit Kappa Champion Hurdle field. Nicky Henderson's charge was expected to miss the race but is now back in training and could book his place at the Cheltenham Festival if he pleases connections next week. J P McManus' charge drifted to the maximum price on Betfair when he was ruled him out of the Champion three weeks ago - £52 was matched (£26 backed; £26 laid) at those odds - and a colossal £881 has been matched at 100 (99-1) or bigger on the one-time favourite. In addition, he has also been matched at 980 (979-1), 880 (879-1) and at all rates down from 720 (719-1) on the exchange. There are six lucky Betfair backers at 1000, with £10 being the biggest individual bet struck. Binocular is currently trading at 28 (27-1) on Betfair. Betfair spokesman Tony Calvin commented: "Kicking King is one of the most famous Betfair betting stories, winning the 2005 Gold Cup as the 4-1 favourite after trading at 999-1 when being effectively ruled out of the race weeks before. "But if Binocular were to win the Champion it will eclipse even that legendary betting tale, mainly because of the monies traded at three-figure prices are so huge. Some Betfair punters are sitting very pretty this morning.

[fintron]

Re: Cautionary Tale for Betfair users a perfect example of layers not understanding value in betting. I couldnt lay a horse at that price even if it was dead, the return doesnt justify the risk imo.