When Betfair's Sportsbook came into play I couldn't help myself doing a bit of arbitrage. I'd see a difference between the price on Betfair exchange and Sportsbook (or visa versa). So I take the bet and lay it off to a no-lose bet or instant profit.
Clearly, the powers that be didn't like it too much and I was sent an email saying that my account would be limited.
Basically, restricting the opportunities. It was my own laziness not doing the same thing with a different bookmaker which would have negated the problem.
Why Betfair or any exchange should be that bothered is beyond me because if the prices are available I feel what they do is restrictive practice so in ways they are wrong rather than the bettor. However, if you make the rules you make them to suit. I find it ridiculous.
Anyway, I see a horse the other day and thought it was a big price compared to the exchanges.
This is the message I received.
See top of page.
I thought Reckon I'm Hot was a decent price at 40/1 and would most likely be backed. Gary Moore's colt was backed to 18/1 so I would have made a good few quid laying the bet off on the exchanges.
I love the bet option detailed: Please enter stake between min: £0.00 | max: £0.00. So I could bet between nothing and nothing.
I think that means we don't want your bet.
Reckon I'm Hot finished 5th.
So much for wanting to take bets, hey.
I always remember a quote from the film Carry On At Your Convenience. When Sid Plummer whose budgie, Joey, kept picking the winner of horse races by chirping when he heard a name he liked.
After years of bad luck losing, Sid Plummer wins big from his old adversary Benny the bookie. The next day he goes to the bookies to place a bet and the bookie refuses to take the wager.
Plummer says: ''What kind of sportsman are you?''
Benny says: ''If I was a sportsman, I'd be riding the horse.''
Need I say more.
Author: Unknown
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