arbitrage on horse racing

[bluetoss]

hi,fellas,

i am looking for a tool that can integrate in the ladder of AGT to do arbitraging.

for instance, i back a horse at odds 5 with 100 bucks and then i lay at odds 4.2 with $119.04 to make a profit of $19.04. i am looking for a calculator that can help me to automatically compute $119.04 to make a profit of $19.04 regardless of the result. is there such a tool available???

if you know whether if this will be useful for trading horses, please let me know. the cons too. really appreciated and cheers!

[djferrick]

hi,fellas,

i am looking for a tool that can integrate in the ladder of AGT to do arbitraging.

for instance, i back a horse at odds 5 with 100 bucks and then i lay at odds 4.2 with $119.04 to make a profit of $19.04. i am looking for a calculator that can help me to automatically compute $119.04 to make a profit of $19.04 regardless of the result. is there such a tool available???

if you know whether if this will be useful for trading horses, please let me know. the cons too. really appreciated and cheers!

just right click on the 4.2 in the ladder on the toy and the toy will tell you how much profit you stand to make and it will place the bet for you if you click the greeen profit number that appears in the right click menu. Yes it does everything doesn't it ? ....

[Temujin]

just right click on the 4.2 in the ladder on the toy and the toy will tell you how much profit you stand to make and it will place the bet for you if you click the greeen profit number that appears in the right click menu. Yes it does everything doesn't it ? ....

Problem being arbitrage would not be in the same market so the Toy doesn't know how much he has bet at what odds elsewhere.

Plenty of arb calcs out there. Or just make your own spready up. Not hard to google or write a formula into Excel.

[Temujin]

Since Google is such a new concept, I have done the search for you. Tough 30 seconds of my life spent here.

http://www.chromaweb.com/bets/calculator/index.php

[djferrick]

Problem being arbitrage would not be in the same market so the Toy doesn't know how much he has bet at what odds elsewhere.

Plenty of arb calcs out there. Or just make your own spready up. Not hard to google or write a formula into Excel.

i misundersttid the question my apologies

[Temujin]

No dramas....

I have asked the same thing, for a manual inclusion/exclusion of bets both on BF and on other mediums. Think it would be a handy feature, especially now since there is a DAQ version. Wouldn't have to be automatic, but a manual option would certainly be nice.
Problem being, not many have requested anything like this so it is more than unlikely.

Still though, spreadsheets are pretty easy to use.

[Nosmo-King]

I have knocked up an excel sheet which does what I think you want, however I don't know how to attach it to this message..I've seen other messages where excel spreadsheets have been attached but I don't know how it's done.

I'll keep looking and hopefully succeed.

[doubleback]

Nosmo-king, put that fag out! You could always use mediafire, then just post the link, e.g., Chromaweb - Excel version

[Nosmo-King]

AH HAA..

I think I managed it.

Check this out.

[Temujin]

Or make it in Google docs. I do all my spreadsheets there now after losing them time after time when my HDD fails. Then just make them public to people with the link and post the link.

[bluetoss]

thanks to all

somehow, after pondering, it may not be worth the risk to do this. if you gonna take risk for backing and laying a horse during run, may as well go for backing throughout the race. just 2 cents worth opinion. more ideas from you all will be great for looking at this in more perspectives. cheers!

[Nosmo-King]

Well I am glad we all made the effort. Good luck

[rphi6876]

somehow, after pondering, it may not be worth the risk to do this. if you gonna take risk for backing and laying a horse during run, may as well go for backing throughout the race. just 2 cents worth opinion. more ideas from you all will be great for looking at this in more perspectives. cheers!

Guess your definition of arbitrage differs significantly from most, as the general meaning of the term is a risk free profit: from wiki "When used by academics, an arbitrage is a transaction that involves no negative cash flow at any probabilistic or temporal state and a positive cash flow in at least one state; in simple terms, it is the possibility of a risk-free profit at zero cost".
Just curious if I have an arb because I layed lower on betfair and backed higher on a bookie whats the risk I face? The bookie or betfair folding before they pay out seems pretty unlikely?

[Temujin]

Guess your definition of arbitrage differs significantly from most, as the general meaning of the term is a risk free profit: from wiki "When used by academics, an arbitrage is a transaction that involves no negative cash flow at any probabilistic or temporal state and a positive cash flow in at least one state; in simple terms, it is the possibility of a risk-free profit at zero cost".
Just curious if I have an arb because I layed lower on betfair and backed higher on a bookie whats the risk I face? The bookie or betfair folding before they pay out seems pretty unlikely?

That the price is still available when you do it since you are putting on 2 bets at different times. Also need to make sure the rules are the same for both markets or at least you have taken them into consideration if there are any differences.
Cricket for example, 50 overs or less, a tie is deemed as a void bet on BF. T20 super overs mean your bet rides with most bookies, otherwise you are paid out by dead heat rules.

There is no risk free profit, until both bets are matched. And most bookies have it in their T+C that they can cancel matched bets if they deemed they have put up a price in error. They have a time limit and procedures they need to follow, but some are good and payout anyway. Had a bet on a 1.26 favourite that was put up around the wrong way and got 3.50 for it. Only put on 3k since I didn't want a delay. Paid me out after the event and made a nice quick 6 grand on it.

The other thing you need to consider is scratchings and overinflated reduction prices with the bookies. You can get a windfall out of it if BF have it wrong, but in general, a scratched runner means at the very least a reduced profit, at the most an arb bet that costs you big.

[bluetoss]

there is a saying, " never trade skills for luck"... sometimes, laying odds dun go your way and you will be in trouble...

That the price is still available when you do it since you are putting on 2 bets at different times. Also need to make sure the rules are the same for both markets or at least you have taken them into consideration if there are any differences.
Cricket for example, 50 overs or less, a tie is deemed as a void bet on BF. T20 super overs mean your bet rides with most bookies, otherwise you are paid out by dead heat rules.

There is no risk free profit, until both bets are matched. And most bookies have it in their T+C that they can cancel matched bets if they deemed they have put up a price in error. They have a time limit and procedures they need to follow, but some are good and payout anyway. Had a bet on a 1.26 favourite that was put up around the wrong way and got 3.50 for it. Only put on 3k since I didn't want a delay. Paid me out after the event and made a nice quick 6 grand on it.

The other thing you need to consider is scratchings and overinflated reduction prices with the bookies. You can get a windfall out of it if BF have it wrong, but in general, a scratched runner means at the very least a reduced profit, at the most an arb bet that costs you big.