RandallFlagg's Lay Betting Journal: current betting bank total £488.21

DefaultM

You can only lay on an exchange, so betfair, smarkets, betdaq

bingefeller

DefaultM said:

You can only lay on an exchange, so betfair, smarkets, betdaq

Thanks, I know of Betfair but haven't heard of the others. 

I'm guessing there is not much to bet on at the minute? 

DefaultM

bingefeller said:

DefaultM said:

You can only lay on an exchange, so betfair, smarkets, betdaq

Thanks, I know of Betfair but haven't heard of the others. 

I'm guessing there is not much to bet on at the minute? 

Its pretty much all back apart from French ligue 1 football. They just seem to be testing people and remove them if positive. 
The golf has had a few players removed but the tournaments continued.

bingefeller

DefaultM said:

bingefeller said:

DefaultM said:

You can only lay on an exchange, so betfair, smarkets, betdaq

Thanks, I know of Betfair but haven't heard of the others. 

I'm guessing there is not much to bet on at the minute? 

Its pretty much all back apart from French ligue 1 football. They just seem to be testing people and remove them if positive. 
The golf has had a few players removed but the tournaments continued.

Where do you get betting tips from, apart from this thread? Reddit? 

RandallFlagg

bingefeller said:

DefaultM said:

bingefeller said:

DefaultM said:

You can only lay on an exchange, so betfair, smarkets, betdaq

Thanks, I know of Betfair but haven't heard of the others. 

I'm guessing there is not much to bet on at the minute? 

Its pretty much all back apart from French ligue 1 football. They just seem to be testing people and remove them if positive. 
The golf has had a few players removed but the tournaments continued.

Where do you get betting tips from, apart from this thread? Reddit? 

Betting tips? I gave up on following other's tips years ago.

With the suspension of horse racing due to Covid-19 I withdrew my betting fund and put it in my stocks & shares ISA, it's made money that way that I would have gambling! I've closed my Betfair account and can't be arsed with it anymore.

bingefeller

RandallFlagg said:

bingefeller said:

DefaultM said:

bingefeller said:

DefaultM said:

You can only lay on an exchange, so betfair, smarkets, betdaq

Thanks, I know of Betfair but haven't heard of the others. 

I'm guessing there is not much to bet on at the minute? 

Its pretty much all back apart from French ligue 1 football. They just seem to be testing people and remove them if positive. 
The golf has had a few players removed but the tournaments continued.

Where do you get betting tips from, apart from this thread? Reddit? 

Betting tips? I gave up on following other's tips years ago.

With the suspension of horse racing due to Covid-19 I withdrew my betting fund and put it in my stocks & shares ISA, it's made money that way that I would have gambling! I've closed my Betfair account and can't be arsed with it anymore.

Ahh stocks and shares is a whole other ballgame.  

I signed up to the Robinhood waiting list, but I'm only like 250000 in the queue, so it'll probably be a long, long time before I get the chance to sign up.  

DefaultM

bingefeller said:

DefaultM said:

bingefeller said:

DefaultM said:

You can only lay on an exchange, so betfair, smarkets, betdaq

Thanks, I know of Betfair but haven't heard of the others. 

I'm guessing there is not much to bet on at the minute? 

Its pretty much all back apart from French ligue 1 football. They just seem to be testing people and remove them if positive. 
The golf has had a few players removed but the tournaments continued.

Where do you get betting tips from, apart from this thread? Reddit? 

There are services you can join, but in my opinion it's largely pointless. 

Day 1 you get a load of spiel about how so and so horse did well here on such and such a date and the ground is right for that to happen again blah blah. They tell you to stake however much on each of their picks, and the bookie to use.

Day 2 you get a paragraph about how there were no winners yesterday but if such and such had happened you'd have been in profit. Then they'll say something like "onwards and upwards! We can't expect them all to be winners, and we'll see the value play out over time".
So you're basically expected to keep blindly staking your money on someone else's opinion in the hope you'll turn a profit because they say they're giving you value.

To be fair most of the services are in profit, but for example one I looked at gave a profit of 30 points over 12 months. Well if you put on a tenner a bet that's £300, and the service was £30 a month. When questioned on this they said yeah but if you put £1000 on each bet you'd have made £30,000. 

DefaultM

Yesterday my tips came through and it highlighted another problem which is called slippage. The tipster said that the odds would be 3/1, however when I got there it was 2/1. All the tipster's results are based on the odds they take, but they're always going to get better odds than you as they're the ones putting the bet on first. As soon as other people's bets start to go on the odds are driven down.
If that horse wins the tipster records it as a £30 profit, whereas you only got £20. It's then possible to get in to a situation where the service is saying its in profit, but actually not everyone is. 

My own selections are based entirely on trying to beat the start price of the horse on Betfair, and that's the only way to be in profit in my opinion. For example I've taken a horse at 50/1 each way this morning, which means if it places I get 10/1 odds. It's currently 3/1 to place on Betfair, and I'm hoping those odds comes in further by race start.
In the long run this is very profitable, but equally it can take longer to be in profit than a lot of people have the stomach for. I also expect the bookie to close the account where I placed that bet as it shows I know what I'm doing, and they won't want my business.

DefaultM

Horse in the example above had a start price of 18/1 and came second.