Sunday, 28 April 2013

Racecourse Bookmaking

In a previous life, I was a racecourse bookie, and in some ways it was fun, others, a living hell.

Mainly due to taxation complications, of professional bookies, as opposed to professional gamblers, I moved away from the racecourse, but, 10 yrs on, Betfair has made life v hard for pro gamblers, and the racecourse is an option.

I have spent the last few weeks, looking at horse-racing in the UK.

There are about 60 horse race-courses in the UK, spread up and down the country. On any given day, there is probably an average of 3-4 meetings.

Each racecourse, have different numbers of fixtures. The all-weather tracks, like Southwell, Lingfield and Wolverhampton, have between 80-100, per year. Some have as few as 20, with an average of .. Say 25.

Raceourse bookmakers, now have to buy a 40 yr licence, to bet at each racecourse. These licences, are bought and sold, thru an auction process, for licenced bookmakers. Each licence, or pitch, as they are commonly known, is valued based on its seniority.

Seniority, is just that. Number 1 pitch, has first pick, where he wants to operate from, Number 60, has just that. So, at an average course, Number 1 pitch probably costs the bookie, £50k, Number 60, £500.

The difference in value, is just associated to what money, the bookie can hope to take, off the public.

Each bookie, will pay, to work on each day, 6 times the Tattersalls entry money .. so, if Joe Public pays, £21 to enter, the bookie will pay £126 to work.This payment, is the same, for Number 1, and Number 60.

They also, now pay a yearly marketing fee, of about 8 times, admission.

If we look at an average racecourse, where they race, 30 times a yr.

If you have number 1 pick, the cost of working on a day, is :

£50k for the licence, spread over 40 years, divided by 30 meetings .. so 50000/1200 = £400

The days licence - £121, plus marketing fee .. £8

You need .. 2 staff .. probably £100 each

The kit to operate as a bookie, costs .. £15k, so, lets take £50 a day for that.

Petrol etc .. another £50.

All-in, if you bet in a prime spot, the costs are £800. In a poor spot, £350.

Bookmaker income, is based on margin. In a good spot, you would hope to take £1000 a race, probably more, at 10%-15% margin. so 7 races, on average, you would hope to win £1100, less expenses of £800, u get £300 per day .. thou, you have a huge capital investment, in racecourse licenses, which will fluctuate in value, over the years.

A poor pitch, will take, maybe £400 per race .. at worse margin, so, its v v hard .. thou, u probably have less workmen, as its less busy.Poor pitches, only really have a value, on realy good days (summer usually), when a lot of people attend .. a racecourse might get 2000 people attending, a run-of-the-mill meetng, but, its summer days, might get 10000. On these days, all bookies will make money, off-setting, the v many poor days, where it rains, and few people attend.

Its a tough game, made harder by the effect of mobile betting, as people can now bet on their cell-phones, via apps. As a rule, people do like to bet in cash, but, in hospitality areas, the temptation not to move, to place a bet, is quite big.

Anyway, having seen quite a few raceourses over the last 3 weeks, its obviously an industry, going thru a lot of change, and is greatly affected by the strength of the local economy. South of the UK, is still fairly strong, as is the north, but the midlands, is really suffering .. (from industry moving away/closed).

IMHO, there are still too many racecourses in the UK, and the prime land, will no doubt, be lost to housing development. I would think, 40-50 racecourses would be sufficient - and more viable, for everyone.

The sheer cost, of becoming a bookie, makes fresh blood almost impossible. This is worrying, from the long term aspect, but, some bookmaking families will no doubt train off-spring. I would hate to be a new guy, starting out, with a bank, of .. say £30k. It would be v hard. With £200k to play with, you would have a chance, but .. banks, wont lend u anything, based on these licences, so, basically, getting the capital .. will prove beyond, most.

Working as a racecourse bookie, you see a lot of things, some funny, some not so.

In previous years, the off- course firms used to hedge a lot of their off- course liabilities, which may have accumulated at their betting shops, in the High Street. This hedging, would reduce the Starting Price, at which most off-course bets are settled, and everyone was happy. These days, the SP mechanism has become outdated, as its doesn't reflect betting exchanges, and less hedging takes place.

This is natural evolution, but, yet another source of income, for a bookie, that has dried up. Experienced bookmakers, with capital, will still win .. But, it's no fun. Working, when its pouring with rain, and your only cover, is an umbrella.

Wednesday, 24 April 2013

More ramblings

Got up fairly early, to play some golf.

Noticed, (one of many Betfair RNS announcements), recently :

This one, is a directorate change :

Part of the announcement, says :
Commenting on his own appointment, Peter Jackson said: "Betfair is a unique brand at one of the most exciting stages in its history. I am looking forward to contributing to its continued development."

Excuse me, but, exciting stages in its history ?? .. which company, can be said to be exciting, when its going thru take-over issues, becos its management are percieved, to be doing the wrong things .. hence the take-over ? 

Challenging would have been a better adjective, but, I wish him well.

Finally got to the golf course, and .. maybe I am getting morbid with old age, but, faced this, near the 1st Tee  :

I am not sure I have ever seen a golf memorial .. on the course before, and didnt find anyone who knew the history .. but, it was thought provoking. 

I didnt play that great, but, wouldnt blame the above ..

Over the course of the season, I expect to eat a lot of fast-food, at various prices.

Price, varies enormously .. 

Top of the range, will be the £9.20 burger at Ascot .. no, its not worth it.

Value winner, so far, is the £1 hot-dog (2 sausages), offered at a reduced price, (down from £3.20), after race 6, on a 7 race card, in the silver ring, at Stratford racecourse.

Monday, 22 April 2013

Betfair Stuff ,,

BF apparently tuned down a bid, of £8.80 a share, valuing it at £900m .. (it listed at £13)

Maybe, ongoing discussions will increase price.

This is a post, from the Betfair forum, re Betfair revenues : (frog2)

The Premium Charge is a legacy of Betfair's former management team and hopefully the new CEO has an open mind to it.

Following the 1st charge UK pre-play racing volume, which has been growing nicely, started to fall. This is a key market in terms of real commission. Even now racing makes up over 40% of exchange revenues.

Following the 2nd premium charge both revenues and amounts matched on everything bar in play sports (where millions are traded for very little revenue) have gone from growing year on year to flat lining. At the same time group revenue growth has stopped. This is after growth in the sportsbook and mobile channels.

Its not difficult to see why this is happening. Betfair has a monopoly in some markets. Where people have to use them e.g. to trade on a test match cricket or a tennis match inplay they over no other option. They either play here or stop totally. Where people can go elsewhere e.g. pre-race horses or football they will go elsewhere. The charge is simply too high.

The problem is where Betfair has a monopoly it is making a low margin (trading) and where it does not (when people want an actual bet) BF makes a higher margin. Betfair is losing its higher margin business.

An outright punter winning just over 2.5% on stakes will pay the 40% premium charge if he stakes enough. This is a very marginal system yet he still falls into the threshold.

Even if Betfair acted now they have lost so much good will. I used to do 100% of my betting on here. I have never even paid the charge but slowly I am moving my betting elsewhere. I need to keep my generate commission rate high so I avoid high margin bets on here. I use it for lower margin bets and trading that I could not do elsewhere.

I hope Betfair see sense. In 2008 the exchange was not broken. It was still growing both in revenues and amounts matched across all markets. They refused to settle for this growth and are now paying the price and must scrap the charge before its too late and the decline becomes terminal. Otherwise they will just be left with a second rate sportsbook and casino.

average daily matched all horseracing and non inplay sports year to date    

Apr-07    £33,345,799
Apr-08    £45,879,142
Apr-09    £51,573,807 (1st PC 11/08)
Apr-10    £55,740,339
Apr-11    £61,204,673 
Apr-12    £60,555,818 (2nd PC 06/11)
Oct-12    £61,014,819*

average daily group revenue year to date

Apr-03    £87,671

Apr-04    £186,301
Apr-05    £293,151
Apr-06    £400,000
Apr-07    £509,589
Apr-08    £668,493
Apr-09    £824,658  (1st PC 11/08)
Apr-10    £934,247
Apr-11    £1,076,712
Apr-12    £1,065,753  (2nd PC 06/11)
Oct-12    £1,090,217*

*averages half year


Revenue is basically flat, which, can easily be associated with a number of factors, including recession/PC/loss of markets in restricted counties.

Betfair is now, simply, a mid-tier betting company, drifting .. maybe they are happy.

Saturday, 20 April 2013

Betfair puzzles ..

The overall quality of blog posts, re gambling, has been steadily improving, and 2 of real quality, deserve special mention :

Mark Davies .. former Media Man at Betfair .. at a time, when 'getting the message out/across', was not easy, has always had his finger on the pulse, and his 2 articles re the CVC bid, need referencing :

This is a 2 part summary, of lots of things, and anyone with a related interest in exchange gambling, should read them.

This other item, writes about the industry, from a compilers perspective :

Also, well worth a read.

Thursday, 18 April 2013

Getting the Value

Decided to go to Cheltenham races for the day .. despite the rain and cold.

Its been miserable in England . and really windy. Played The Belfry golf course yesterday, and, the intense cold and gusts of wind, made the course almost unplayable for the good golfers, let alone hackers like me .. lost about 6 balls, which was about right.

Anyway, got to Cheltenham, and had a right result, getting in ...

Its normally £20 for a mid-week meeting, and the usual touts are hanging around. I wont use them, unless absolutely desperate .. preferring to pay the course, full price, than saving .. say £5.

Anyway, as I make my way to the kiosk, I can see a guy, looking for someone he can give a spare ticket to .. so, I help him out !!!

I get in ok .. and ask him, if he has any tips .. he says, no .. so, I tell him to back the fav in the 2000 guineas trial, at Newmarket .. Toronado - at 4.05, which is about 1.80 .. and, I know will win.

I v rarely tip horses, or anything, as I hate the grief when they lose (as, they can do) .. but, this was a special case.

It duly hacked up, and is a very serious horse/contender, for everything.

I enjoyed the racing at Cheltenham, but was v sorry to see champion jockey, Tony Mccoy, have quite a serious injury, from a fall. Hes a model professional, who I hold in the highest regard, and wonder how many more years, he will put his body, thru everything, a steeple-chase jockey, lives with.

It will be a sad day, when he retires, but, overall, hes been a lot luckier than most, with injuries.

Wednesday, 17 April 2013

Puzzles ..

I like doing puzzles, and have run the full gamut of different types :

From the very basic, 1983 Ascii type game, of Enchanter ..

Which, as u can see, is a very old game .. but was fun ..

To : 7th Guest , which, in its day, was the dogs ..

The spooky staircase, in the puzzle laden house.

To, Apple IOS games, like The Room :

These puzzles have an ending.

The puzzle, that is Betfair, never seems to :

Its a long story, but, founders/shareholders/users/employees .. all have different paths to follow, and many, just seem dead-ends, like many of the puzzles, above.

The latest chapters, have seen rumours of Ladbrokes making a bid (why??), and a private investment vehicle - CVC - apparently thinking about making a bid, to turn Betfair private :

This makes no sense to me .. but, many things in the financial world, are far more wacky .. however, I do think, this is a puzzle, that will run and run ..

Monday, 15 April 2013

Ding Dong, the Witch is dead.

Back in December, I wrote :

That gold was a sell at $1700 ..

I have been beaten up, by Golds rise, over the last 2 yrs, and .. the last qtr, has been pay-back.

Its now . $1350, and dropping fast.

The gold mines are in trouble, and expect more strikes/closures in many gold producing areas in Africa.

Gold has much further to fall, IMHO, but, I know nothing.

Equities have had a fantastic run .. its v possible, a correction, is coming.

Do your own reasearch, and consult your financial advisor.

Sunday, 14 April 2013

IPL 2013 - KKR v Hyderbad

Schedule changed, and was able to watch this, from about 5 overs in.

They playing at Kolkata, and 150 would be a defendable score for KKR.

At 57-0 after 7 overs, KKR were 1.40, (started at 1.66 or so, ), and just couldn't resist, having an interest.

Havent done much with it .. 169-3 after 18.4 .. they will win.

Baseball Movies

I am sucker a for a good Baseball Movie, and must be have watched the movies on this list :

at least 100 times.

I happened to catch a new one, on a flight, and it deserves to be added to the list :

Sure, its predictable, and a crock of shit, but, I loved it, anyway.


Masters - Day 4

So, Tiger used his 'Get out of Jail free' card, and got the 2 shot penalty.

On reflection, its probably wrong .. they/he should have enforced a DQ, as it doesnt do much for the game, and its not really in the spirit of 'The Legend of Bagger Vance' (great golf movie).

Anyway :

Overnight leaders have a great record, and Sned or Cabrera might well pull it off.

Cabrera has a funny record, of only having won 2 US PGA events, but, they were both in the Majors ..( US Open, 2007, Masters, 2009  !!

Tiger is 4 shots back .. why do I have this nagging feeling, he will finish 1 shot off the winner ?

Looking fwd to the final round.

Saturday, 13 April 2013

Masters Dilemmas

So, it appears Tiger Woods may have infringed rules, when he took a drop on the 15th hole, when his ball richocheted into the water, off the flag.

Golf rules, are colossal .. and open to some degree of local interpretation, .. thou, they created controversy on Day 2, giving the 14 yr old kid, a 1 shot penalty for slow play .. when, there are far more guilty culprits, on the tour.

From a betting viewpoint, he has traded from 4.7 overnight, out to 8.4, and presently sits on 6.4, awaiting a ruling ..

I hope he stays in, as I like watching him play, but, can see, rules should be followed.

I should also mention, world-tv audiences, rise something like 70%, when Tigers playing. So, as golf is a money game, would be a bit surprised, if they DQ him.

Friday, 12 April 2013

Poker Insurance

Well, I suppose it had to come.

Followers of Phil Helmuth, will have often seen him, ask for insurance, in cash games.

It works like this : He gets into a hand, where, after the money is in, he is .. say 4/1 fav. He asks for insurance, from a willing layer, taking, perhaps 7/2 .. which, reduces his variance. So, if the cards fall badly, he gets the insurance money, if not, he pays the premium, but picks up the pot.

This new website, is offering insurance, on all Poker Stars cash games, and even bubble insurance, in tournys.

The 'premium' , varies, but appears to be based on the cover u take + premium .. so,

If u elect for 10% cover, its 10% of the buy-in +  2.5% of the buy-in, for bubble insurance .. cash game insurance, varies, based on number of hands etc.

If u have bubble insurance, but, a limited bank-roll, having the insurance might make your play, a little more aggressively.

Things are changing in the Poker world .. Bitcoin etc / legal changes ..

((If you had bought Boyd Gaming at $7.00, as advised here a while ago, u would be happily looking at todays $9.00 share price))

((I am also happy, to report the demise of Gold .. this is going, much lower, IMHO))

Masters Bets : Looks ok, so far

As I was writing about this, I had a few bets :

Its a right result, that after day 1, DJ, is now 9.6, and Woods/Mickleson, are bang there.

Will lay £250 at 9.6 DJ, and watch the rest .. its too good a tourny, to waste time, betting on it.

Some things change, others dont.

Have been in the UK for a week, and .. its depressingly like it was, a yr ago.

A) Its raining .. which means, most of the cricket at Warwickshire is off ..

B) The roads still get congested, and u have time to wonder.

When my mind wanders, it often thinks about the personal tragedy, of losing a family member, on the roads.

The Uk is a myriad of dual-carriageways, and people have a tendency to remember lost ones, by putting flowers on lampposts.

One particular lamppost, has fresh flowers every week, and I have been driving past it for many yrs.

Its tricky to take a picture of, so, have been trying to find one, on-line.

This just delves u into deeper layers :

Which asks the question, whether public memorials on lamp-posts should be allowed ..

One really harrowing comment, mentions a 'Ghost Bike', left at a road junction, where flowers are regularly left. U can only imagine ..

I suppose all personal tragedy is .. just that, but, the visual display of remembrance, makes it more telling.

Drive safe .. and maybe, slow down, a fraction.

Wednesday, 10 April 2013

Give me hope, Joanna ..

Sorting thru old stuff, can be an interesting time.

I wouldn't say I am a hoarder, but, do seem to collect stuff, and a planned house move, is the ideal time, to have a thorough sort-out.

The out-tray, got a full helping, but, a few tasty morsels arose.

One, was a betting slip, for a football game, played in 2010.

The betting slip, is a bit faded, but, you can just make out, it's a bet of £300, for the Scottish football side of Falkirk, to beat Stirling Albion, at 4/5, for £300.

This is a very odd bet, for me to have (it's my writing), as I v rarely bet on Scottish soccer, especially in a betting shop, and, as the slip was saved in the safe, there is hope, that maybe, it was a winner.

I googled Falkirk football results for 2010, around July, and the game doesn't seem to exist.

Not good .. So, tried to find out, if Ladbrokes would honour a bet, placed 3 yrs ago .. If it had won.

This info, is not easy to find, so, decided to just visit a shop, and see.

Bad news .. They only honour bets for 1 yr .. So, have dunnit.

Dunno if the bet was a winner, or not.


Following investigation by Twitter followers, it seems to indicate, game was 0-0 draw .. best result, I suppose.

Its debatable whether u should keep old betting slips .. I recall Peter O'Sullivans autobiography (race commentator), who aid he indexed/filed, everyone of his 10,000 betting slips.

Tuesday, 9 April 2013

Other stuff

Am back in the UK, and .. basically, its under a hard ride.

Jobs are few and far between ..people have little free resources, and its cold to boot.

I have been horse-racing, at a few tracks, and its plain how poor things have become.

Its often interesting, how good a reflection gambling spend, is, as a measure of a countries well-being ..

As I say, the UK, has some problems .. which, I think are structural, and wont be easily solved.

A friend of mine, has been looking for work, and its very scarce. In 4 months, any job he has applied for, have had 200+ applicants (people want to work), but, u need to be an outstanding candidate, to get an interview. Pub work, is a back-up, but, Pubs are closing everywhere.

 ) shows 22k closed pubs .. the social fabric, is being changed.

Tricky ..

Friday, 5 April 2013

Aintree - Day 2

Didnt make Day 1, as BA flight delayed, and Tube signals failed, making a 1hr tube ride from Heathrow, 2 hrs.

Welcome back to the UK.

Anyway, went today, and its changed a bit .. but some things, never change.

Day 2 is ladies day, and given, its freezing cold, u would expect, them to wear something .. I had 4 layers, plus decent coat .. Ladies, seem to wear a bit less  ..

And these were some of the more well protected .. anyway ..

The game has changed for UK bookies. Its a 3 day meeting, and apart from the cost of the racecourse licence, which is hard to value .. but say, its £10k average .. u pay more, based on position .. over 40 yrs, the expenses to work, are about £3k.

We had a decent pitch (or track position, to bet from), in front of one of the Tattersalls grandstands.

So, to show a profit, if u are betting to a margin, of say 10%, u have to take £30k, in bets, or £10k a day, to break-even.

Day 1, they took, £6k, .. Day 2 .. Ladies day, has a crowd of 60,000 normally, as opposed to 35k on Day 1, so we took more money .. about £9k, but, its not enough. It was cold/windy, which may keep some punters away, but, those that come, appear to have less money to spend.

The results on Day 2, were v punter friendly, so, we lost, and have a long way to climb, on the final day tomorrow .. which is Grand National day.

Its a long day .. 2 hrs drive to the track, setting up kit, (which costs .. £10k), betting all day, before dis-assembling kit and driving home ..

When u lose, its not much fun .. thou, as expected, the KFC shop, is still there ..

Thursday, 4 April 2013

IPL 2013 - Game 2 - Bangalore v Mumbai

Pre-toss :

Bangalore 1.80

Mumbai  2.22

Mumbai win the toss, and fast fingers .. took Bangalore down to 1.77, before they realise they will be batting, and prices settle at :

Bangalore 1.90

Mumbai 2.12

Run line .. about 167

Bangalore, generally weak, pre game ..

Here we go ..

Ball moving all over, the place .. Dilshan and Gayle, facing.

I like to be with Mumbai, for a bit.

RCB 1-0 after 1 over , Mumbai favs 1.87

RCB 2-0 after 2 overs, Mumbai 1.85

Wkt - Dilshan 0 from 8 .. RCB 3-1, Mumbai 1.61 .. money right, so far .Gayle would be a 30 tick wkt

RCB 9-1 after 3 overs, Mumbai 1.67 .. taking some profits

RCB 16-1 after 4 overs, Mumbai 1.68 .. RCB 2801 after 4.4 .. sawdust brought on .. 2.00 each

Wkt .. after sawdust .. Kohli 24 from 14,

RCB 28-2 after 5 overs, Mumbai 1.63  .. I am with RCB .. didnt like that wkt

RCB 31-2 after 6 overs, Mumbai 1.51

Wkt - Agarwal 1 from 5, looks outclassed, Mumbai 1.40 .. all about Gayle now, thou, wkt looks tricky

RCB 36-3 after 7 overs, Mumbai 1.44 .. still with RCB

RCB 44-3 after 8 overs, Mumbai 1.42

Gayle looks in some touch .. gorgeous 4 shot, followed by 6

RCB 56-3 after 9, Mumbai 1.57 .. still with RCB

RCB 60-3 after 10, Mumbai 1.43 (Gayle poss injured, but don't think so)

RCB 74-3 after 11, Mumbai 1.63 .. Gayle hitting out, but does look wobbly cant run) .. trying to go level

Wkt - Christian 4 from 13, (mkt wouldn't let me out) .. 75-4 after 11.4   1.43

RCB 75-4 after 12, Mumbai 1.42

Wkt - Nair .. 80-5 after 12.3 , 1.40

RCB 82-5 after 13, Mumbai 1.42

RCB 93-5 after 14, Mumbai 1.45 .. Gayle hanging in .. 140, might be a game.

RCB 100-5 after 15, Mumbai 1.48 .. taken red .. and will lay Mumbai, if RCB get 140

RCB 106-5 after 16, Mumbai 1.48

RCB 115-5 after 17, Mumbai 1.54  .. good effort this from Gayle, incapacitated .. 66 from 49

RCB 132-5 after 18, Mumbai 1.73 .. big pressure for Mumbai (all way thru)

RCB 140-5 after 19, Mumbai 1.61 .. Gayle facing for last over ..

RCB finish on 156-5 .. Mumbai 1.69 .. Gayle not out, 92 from 58 .. game on ..but, mkt loves Mumbai.

Not sure .. Ponting/Tendulkar, doesn't really frighten me ..have re-laid Mumbai

Heres the reply ..

Ponting opening with Tendulkar ..

Mumbai 2-0 after 1 over, Mumbai 1.74 .. mkt still has em, a few tick short, but, understandable.

Mumbai 4-0 after 2 overs, Mumbai 1.83 .. looks right

Mumbai 11-0 after 3 overs, Mumbai 1.79 .. tricky game .. but, think Mumbai will shorten v quick, if no wkt

Mumbai 23-0 after 4 overs, Mumbai 1.53 .. missed 1.7x, took 1.68 ..

Mumbai 27-0 after 5 overs, Mumbai 1.63 .. no wkts, but some runs wud be nice.

Mumba 38-0 after 6 overs, Mumbai 1.53 .. break even, is 1.44 .. maybe, get a draw ..

Got there .. gone flat .. phew !!

Mumbai 50-0 after 7 overs, Mumbai 1.34

Wkt - Tendulkar .. 23 from 19, run-out .. Mumbai 1.47

Mumbai 54-1 after 8 overs, Mumbai 1.45 .. no position.

Mumbai 58-1 after 9 overs, Mumbai 1.55 .. tempted to lay Mumbai (small)

Wkt - Ponting 28 from 33, .. RCB favs . 1.94 .. small green

Mumbai 62-2 after 10 overs, RCB 1.91

a 4, and price moves 28 c,  mkt still respects Mumbai .. need 9.4 an over, .. switched to Mumbai (small)

Mumbai 69-2 after 11, Mumbai 1.89 .. Pollard to come,

Mumbai 74-2 after 12, Mumbai 1.85 .. need 10's

Mumbai 85-2 after 13, Mumbai 1.71 .. taking small green ..

Wkt - Sharma 11 from 11 ..88-3 after 13.3  RCB favs 1.80

Mumbai 91-3 after 14, RCB 1.82 .. crack cocaine of trading now . Pollard not in ? / Butcher instead.

Need 11 per over ..

Mumbai 96-3 after 15, RCB 1.48  .. leaving this v late .. need 61 from 30

Mumbai 106-3 after 16, RCB 1.68 .. need 51 from 24 ..

Match changing over ..

Mumbai 130-3 after 17, Mumbai 1.19 .. volatile shit, this is .. booking small green ..

Mumbai 140-3 after 18, Mumbai 1.13 .. Tie anyone ??

Mumbai 147-3 after 19, Mumbai 1.25 .. Need 10 from 6, Pollard watches from Bleaches

Wkt .. Kartik .. 60 from37, Mumbai 1.71 .. Pollard not facing - they crossed.. need 9 from 4

Wkt .. Need 9 from 3, Pollard still not facing .. they take 1 .. Pollard needs 8 from 2

4 off 2nd last ball ..

Need 4 to win, 1 ball left .. RCB 1.55

RCB win .. Good game, but didn't shine ..

1.04 bust on Mumbai .. £21m traded

Wednesday, 3 April 2013

IPL 2013 .. 77 Games .. in a decent time slot

So, the carnival is back in town.

Chennai are worthy favourites at 5.0 ..

Am hoping liquidity on Betdaq will be decent .. I will try and market-make, but, will miss the 1st few games, with travel/horse-racing commitments.

Will keep a daily blog of the games .. with some P/L pics.

Betting in the 'Land of the Free'

Internet gaming is still illegal, in most of the United States .. thou things are moving .. but, maybe, at a snails pace.

As the banks have been warned off, Bitcoins are getting some support, on a few on the marginal Poker websites.

I first heard of Bitcoins, from the manic Bryan Micon, in 2011, on .. a fairly manic, thou sometimes entertaining poker radio show. He was a long time advocate, and may have been a true visionary, as the resent buy/sell price of Bitcoins, has climbed steeply.

Bitcoins are basically virtual currency, u can buy for real cash, but .. when u have bought them, there is very little trace etc .. so, people think they are just for drugs etc .. but, some poker sites .. like now have cashing facilities.

Not for me .. but, it maybe, the future, for the next 2-3 yrs.

(( Link to Wall Street analyst, who provides a mechanism to value Bitcoins))

Sports betting in the US, is still v retarded.

I just saw a tweet, from 43BH - Butch Harmon, giving his picks, for the Masters Golf tournament.

He has picked :

Phil Mickleson .. at 10/1 .. 13/1 available on european betting exchanges
Dustin Johnson .. at 25/1 .. 37/1 available on european betting exchanges
Nick Watney .. at 50/1 .. 83/1 available on european betting exchanges

US bettors, basically, have no shot.

Tuesday, 2 April 2013

Last nite in local Casino, for a while

As its Easter, decided to go a little early, and play cash, before the normal Monday nite, Donk fest.

I buy-in for $150, and there are 2 cash tables going. 'Chummy' (not his real name), who I have beaten out of $1500 in the last mth, (once monster fav, once monster dog), is happily at the other table, and has a v decent stack .. about $1000, which .. as he always only buys in for, $150, is a good profit.

Hes v chatty, and often verbally spars with me .. but, today, hes Mr Nice .. like hes had a personaility overhaul. It was odd, but, as he was at the other table, never got to play a hand with him.

It was unusual thou .. cos, for the last month, he has hated my guts, even moving to spare seats away from me .. and, now, this ?? Maybe he knows hes a twat, its just variance, and is trying to mend his ways ..

Anyway ..

I made a Nut Flush,(on the river) in a big pot, and a good reg, had to call me, with 2nd Nuts, and now, hes got the needle with me .. so, its one of those days again.

I was winning a bit, and there were a few v weak players, waiting for the $80 Tourny/Donk Fest.

One really weak player, decided to play for his stack .. about $125, 5 mins before the Tourny started, with

A ♦ 8 ♠ , against my A ♣ K ♦ .. all-in, pre-flop, and naturally, he hits the 8.

I then go to the tourny, and get it all-in, with A ♣ Q ♠, against someone who was a little short-stacked, but should know better, with A ♦ 2 ♣ ??, on a board of

A ♥ 6 ♦ 7 ♦  ..

He hit the 2 ♣ on the turn .. and to be fair, was v appologetic.

So, no fireworks to finish with .. but, its been fun.

Monday, 1 April 2013

Poor Bookies

Over the weekend, their was a feature race-day at Turfontein, followed by a feature race day today, in the Western Cape.

Over the years, favourites have tended to dominate these days, and, over the 2 meetings, this was the flavour of the day.

Bookies were reeling yesterday, and the first 6 favs, won in Cape Town.

Its not easy .. but, no one ever feels sorry for them ..