Best Bookmakers Offers

All That Glitters - Part One.

Cyril's Betting Advice
Cyril's Betting Advice

Racing isn’t really my cup of tea despite having worked in the industry for so long. However some of the Cheltenham offers have caught my eye. One in particular on Wednesday’s on programme.
Some bookmakers were offering EVEN MONEY on what was to anyone who knew his horses a 4 to 1 ON shot. This was, of course, Sprinter Sacre. Why were the layers being so beneficial to the punters? They certainly hadn’t just taken a vow of PHILANTHROPY. Had they? I doubt it very much. Were they really being so careless with their money? I doubt that, very much too. The only explanation I can think of is the fact that they really wanted as much money coming in as possible to cover obligations they MIGHT suffer if the favourite didn’t win. I do think it was very much an insurance against something unforeseen happening during the race. I can find no other reason for this GIVEAWAY.

They could have let all their liabilities ride and take a chance on good fortune smiling upon them. Bookmakers, however just don’t operate like than. As with any other race they had to balance their books. The fact that they shouted from the rooftops that the race result cost them a million pounds or more is besides the point. They will have made their 7 to 10% on the race. Especially when taking into account the many thousands placed on ANTE-POST wagers. They even made sure that they held the upper hand when offering this little tid-bit by putting a cap on individuals stakes.

So when it seems that the bookies offer seems too good to be true, it will be. But you will have to dig deep for the real reason behind him opening his satchel to one and all.

A BETTING MYTH?

This is just my own interpretation of, “Favourites winning big races are bad results for the bookmaker”. Whenever a favourite wins a big race the following morning the newspaper headlines relate how much the bookies had to pay out. So what! It never tells you how much the layers have taken on the race. Nor does it relate the total number of betting slips that were settled. The latter is never mentioned in the press. Probably because the bookies don’t give that information out. My simple “equation” is this. A 5/1 winning favourite needs only 5 losing bets of the same stake to give the layer an even book. However a 20/1 winner requires the bookie to have taken 20 losing bets of the same stake to cover his back. This may sound a little cock-eyed to most people but having settled BIG RACES for over forty years I know which I’d prefer. Even when a winning favourite gave me more bets that needed to be settled.

Think about it, it makes sense.


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