betfair loophole

RaiseTheBlinds

well Im looking at a market now that has a big loophole for just over 19% profit,.....
you may have to make it your final bet on that site though.

ok here it is :

directions to page - http://sports.betfair.com/
go to snooker/worldchampionship/winner market.

now,... the field is positive profit ,..i.e you can back every player there and make a profit, but the reason for that is - players like Ding JUnhui, jamie cope, higginson , etc, still have their qualifiers to play.
I guess the players in betfairs market are already qualified on their rank/status.

now , if you had 1000 euro, and back each player in proportion, you should have your 1000 euro back, and 195 euro in "green profit" on the players in the market.

you get your origional 1000 there available to withdraw in case one of the qualifers (ding,cope,dayetc.) mangae to win.

your balance would be negative, but betfair couldnt take money that you dont have in your account ? could they !!!

betfairs mistake is not taking into account that the green profit system allows you to have the original money back into your account once you are in "the green" on all available players !!!

not going to do it myself, but ive never heard of it been done and the loophole has been there for ages.
anybody going to give it a go ?

Chucky the tree

Good timing, i'd avoid loopholes on betfair if i was you.


One lad managed to get himself into 12k of debt on the Carling cup match today, thinking he found a loophole. A few other tits decided to follow him in, bit of a diaster really.

http://forums.moneysavingexpert.com/showthread.html?t=386063

Heres another thread about it.

http://forums.moneysavingexpert.com/showthread.html?t=386241


He wont actually have to pay the debt, but they still lost what they had in his bank.

RaiseTheBlinds

i also notice that people are actively and quietly at it,.. if you check the money placed on each player,..it is proportionate to their odds

at this stage you would never have good money put on the outsiders like barry hawkins etc. !!

the other side of it is, that you could lay some at very good prices as people playing this loophole can only take what is on offer if they want to remain green instantly !!!

the mind boggles,...

RaiseTheBlinds

Chucky the tree wrote:

Good timing, i'd avoid loopholes on betfair if i was you.


One lad managed to get himself into 12k of debt on the Carling cup match today, thinking he found a loophole. A few other tits decided to follow him in, bit of a diaster really.

http://forums.moneysavingexpert.com/showthread.html?t=386063

Heres another thread about it.

http://forums.moneysavingexpert.com/showthread.html?t=386241


He wont actually have to pay the debt, but they still lost what they had in his bank.

ah........ ok, but when you go all green the stakes are refunded into your withdrawable balance

todays concerned the layers side,.... backing is a different kettle of fish !!
absolutely immpossible to loose unless you have the idle funds sitting by to pay betfair !!!!

dont forget the oppurtunity to lay you greeery whilst the newcomers turn up on the market !!! when your green you are green .

Chucky the tree

It was the fact they forgot that bets on players who didnt start where voided that shafted them.

For me, its not worth the hassle for a relatively small return.

RaiseTheBlinds

ok,....
but when you are backing as opposed to laying ,...that non-runner circumstance dosent apply !!! does it ??
only the layer of all markets should get stuffed,.... how could the backer loose out ?

very contentious subject this,.... very curious to see the outcome,..and no doubt it will be a big furore sometime soon,..the qualifiers are just started !!

keep your mince pies open for the debates ,... the bot users will hoover that up, and theres fantastic legitimite prices to lay when the bots kick in !!

Chucky the tree

It seems with the snooker but the only thing to worry about is a qualifier winning it. Even then the only i would be worried about is Ding.

RaiseTheBlinds

hmmm,..... i think ill wait to hear the reaction of betfair to todays events
didnt know it was sucha big thing till i read the links ou posted.
i wont be risking it ,also got big green champions league to loose potentially.
nowhere near as risky as the fgs market,... but still there are 16 qualifers to enter the tournament.

including ding,...who only has to play the last qualifing round to enter !
also holt, mc manus, hicks, mc coullagh, milkins, selby,marco fu, david grey, bond, swail, perry , bingham and finally mark king.....who will be favourites to qualify.

now looks like good laying odds if you have the balance

Dodge

http://www.worldsnooker.com/tournament_latest_drawsheet-76.htm

This will show you who's left to qualify. 16 players to be added to the main draw. Some of these have had good/great results on tour this year including Ding Junhui and Ryan Day.

If you're backing the seeded players to beat the field, you should be safe enough with only Ding Junhui having the talent to win the big one IMO. I wouldn't be putting a grand on it though

My guess is that as the field willl be added to, your stake will remain as a negative on your balance, meaning you couldn't withdraw the stake (or use it elsewhere)

RaiseTheBlinds

my point is,... your balance will be positive certainly until the addition of the qualifiers, by which time you could have your stake withdrawn and safely back in your pocket.
you wouldnt need to put a grand on it,... as you get your initial stake returned to your balance when all are green ,...and free to re-use the stake again , and again and again.

if you had 50 euro in your account and reused it 1000 times,..... then withdrew your 50 euro,... you would only have zero balance with a hefty 4 or 5 figure "green" remaining on the top ranked players ....

somebody is risking it as we speak,.... with the likes of hawkins and steve davis already backed at 32/1 ...... what a great time to lay,.... surely you'll get in the region of 200-300 /1 when all the 16 qualifiers emerge.

i dont know how it will work out and i wouldnt recommend it tbh,... but its a loophole betfair need to close asap in my opinion !!! the company will be at a major loss if they dont take the punters to the courts.
they've withdrew all the first goal scorer markets from all football games and havent yet noticed the snooker market,.....shocking !!

Dodge

RaiseTheBlinds wrote:

my point is,... your balance will be positive certainly until the addition of the qualifiers, by which time you could have your stake withdrawn and safely back in your pocket.
you wouldnt need to put a grand on it,... as you get your initial stake returned to your balance when all are green ,...and free to re-use the stake again , and again and again.

And I'm telling you this is not the case! You will still have a liability on your account as they KNOW that 16 players are to be added to the field. Go ahead and do it if you don't believe me.

RaiseTheBlinds

and im telling you again, in case you didnt understand , that you would be left with a red on 16 players, a red that may not be inforceable , whilst you have your own stake money back in your own bank account.

i know they know there are 16 players to arrive,...we all know that, but their system is still flawed, and you have an infinitive amount of money to gamble whilst they replenish your balance with your original stake.

if you think thats not a problem to betfair then dont bother taking part in the conversation, cause you obviously cant grasp the point, that you can spend 50,000 euros without it costing you a single cent.

like i said i wont be doing it , i would however like to see their legal position and action over the fgs market wheree they allowed people spend 100's of thousands which were never in their accounts.

thats all im saying.
thread closed on my part as far as im concerned, dont need to take any smart remarks with a discussion like this.

keep posting your 10 fold accum's , and ill keep buying lottery tickets.

Chucky the tree

put the handbags away lads.

Collie D

Chucky the tree wrote:

put the handbags away lads.

Ditto that ;o)

I read that link, Chucky, crazy stuff indeed. Not quite sure what Raise the Blinds is getting at but as they say if it loks too good to be true....

Dodge

RaiseTheBlinds wrote:

dont need to take any smart remarks with a discussion like this.

Apologies for the Smart remarks. Didn't mean to come across as an arsehole, which I did...

Have you done this bit of trading? For fun I have to very small stakes. Total Liability of €188, which is NOT put back into my account (for wthdrawl or playing other markets). Lowest "green" is on Ronnie @ just over a fiver. If Ding wins, I'm down €188. Max green on Ali Carter

The stake is down as a liabilty, and you do have an "infinite amount to gamble". This is not the same as the FGS market

RaiseTheBlinds

apologies from me then ,..... i completely took you up wrong on that.



must o been in bad form that day,..which isnt usually like me to be honest.
I'll make it up to ya some day , god willing.

Dodge

Just an update on this...

I'm now red on all qualifiers, including second favourite Ding. I'd still be confident of winning though, particularly given his tough draw.

All the seeds to win in the first round please