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post #10 of (permalink) Old 09-21-2006, 04:44 PM
country flag TFan1156
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Re: Week 4, Day 2

Originally Posted by probids
sorry if I confused you.

Quick example

Last night I had 1000 Pounds on NYM to beat Florida at the bookmakers

I also had 1000 pounds (laid) them to lose on betfair at the same odds.

I lose 1000 with the bookmaker and win 1000 at betfair that covers the bookmaker stake.

My profit is 270 Pounds without risk. ( I am an aussie but trade UK for obvious reasons)

1000 - 10% times 30% = 270

The bookmaker I am affiliated with pays me a commission and most bookmakers do. You need two people to trade like this but it is fun and you never lose a cent!
I think I follow you. You are betting both sides of an event at two different places and pocket the commission on the lose which you say amounts to 270 on 1000 or 27%. So all one really needs is a bookmaker willing to give you back 27% of your personal loses. It behooves me how they could profit on you that way unless you be a really bad gambler, what am I missing?
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