17-03-2003 17:22									#1
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Well, I speak to you after a brilliant weekend. Well, not totally brilliant as Aberystwyth went out of the Welsh Cup at the quarter final stage by losing 3-2 to Barry Clowns. Were leading 2-1 in the 80th minute.

Saturday's quarter finals included a game between a South Wales regional league side, Ton Pentre, and a Welsh Premier side, Oswestry. Obviously the bookies looked at their respective leagues and gave odds of 4/1 on a Ton Pentre win.

Here's what they didn't know.

Ton Pentre are easily good enough to finish mid-table in the Welsh Premier but do not play in it for two reasons; their ground doesn't meet needed specifications, and secondly, the cost of travelling is prohibitive for such a small set-up.

So, odds of 4/1 due to bookmakers not knowing the full information, and to cap it off, singles were accepted!

Between everyone I know, at least £500 was placed on Ton Pentre, including £140 of my money that I somehow got my hands on.

The score/

Ton Pentre 3 - Oswestry 0



Share your betting tips and stories...

	17-03-2003 17:25									#2
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1.50 e/w on a 150-1 shot in the derby came 3rd.

Given a tip by a bloke I knew he said it was a dead cert.
I put £10 on the nose at 9-1. It won just.
Next time i saw the bloke he said he had given me the wrong horse.

	17-03-2003 17:33									#3
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LOL.

The bookie took a right hammering. Even one guy who NEVER bets put on a fiver...

	17-03-2003 17:34									#4
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Bookies getting hammerd is always fun.

betting on hole in ones in golf used to be good. Bookies didn't know the proper odds and would giive you 100-1 on it happening in a tournannet when the proper odds are about 10-1. They wised up to that quite quickly though

	20-03-2003 19:50									#5
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Let's have a bit more discussion - come on Ming, I thought you'd have had something to say.

	20-03-2003 19:55									#6
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In a horse race split between 2 favorites, take the long-shot.

	20-03-2003 19:56									#7
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In boxing never bet on the white guy(unless he's boxing another white guy)

	20-03-2003 20:02									#8
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You must have bookmakers over there who don't understand the business.

Here... the odds don't actually mean who the bookies think will win, or what's the chance of an event occuring.

The odds are established based on what is needed for the bookmaker to have equal money on both sides of the bet. The odds change base solely on how the money is being bet, and in reality has nothing to do with the actual event.

If the bookmaker does it right, he doesn't care who wins, because if there is equal money on both sides, he collects his percentage from the lossers...

	20-03-2003 20:06									#9
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The bookies tend to open the market on the basis of what they think, the money then comes in and they ajust the odds accordingly. They often lay bets with other bookies to cover their liabilities

	20-03-2003 20:08									#10
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In 1992 I won 75 quid in the only bet I have ever placed on a horse.

"Party Politics" to win the Grand National at 14/1. It was a weird bet because I got the tip a couple of weeks before from from a one legged man who frequented the pub I worked in and the general election was only a couple of weeks away. At the time it was 66/1 so I guess I was an idiot for not placing the bet earlier (the betting shop was next door ).

Anyway, to cut a long story short, the pub was packed for the race and only myself the manager and the tipper won.

	20-03-2003 20:31									#11
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To elaborate a little on Ming's point;
Bettors are actually betting against each other, not against the bookie.
Bookies set odds to accomplish this.

Bookies, don't lose.



And about not betting on white guys in boxing?
Maybe, maybe not.

	20-03-2003 20:34									#12
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Bookies in the UK compete aginst each other and therefreo slightly adjust their odds to attract bets. If they think a horse won't win they lengthen the odds to attract the money. There is a very complex interaction between the behavoiur of bookies and punters which affects the odds.

	20-03-2003 20:39									#13
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Well... then I have no sympathy for their losses. If done right, you make money no matter what, with very little risk. Sounds like pure greed, and there really is no need for it.