I am learning things about Canbet

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  • Mudcat
    Restricted User
    • 07-21-05
    • 9287

    #1
    I am learning things about Canbet
    What I have found a few times - and I also just got a PM from a fellow poster about it - is that their sportsbook operates almost like an exchange at times. It's like they post their lines but there are only a fixed number of dollars that can be bet on them (regardless of the limits listed on the website).

    The example in the PM I received was of trying to place 2K on a moneyline and getting the following message:

    The current Canbet risk at the above odds has been exceeded. Press "Confirm Bet" to accept the reduced bet amount.

    The reduced bet amount they were offered was $145.

    I have had this happen a few times too. I just spoke to a manager over there and he didn't want to go along with my exchange analogy but I can't think of another way to explain it. Whatever you call it, that's what happens. I told him I would be posting this here and he sounded like he might have a look.

    A few more points:

    There is no way to tell ahead of time how much money you can put on a certain line. You have to go right to the final confirmation screen before you know.

    It is equally likely to happen with spreads, totals and moneylines.

    These different available "risk" amounts vary from game to game (i.e. - at any given time, every NBA moneylines on the board could have completely different "risk" available.)

    This manager said that if you just wait a few seconds and try again, their "risk" should be increased. To be honest, that's not consistent with my experience. I've had cases where I've tried again several minutes later and still couldn't place the bet I wanted and finally gave up.



    I'm not trying to put down Canbet. I have found them to be on a steady upward trend - getting better and better - for the last 6 months or so. And this effect I'm describing doesn't happen all the time - it is more the exception than the rule by far in my experience - but it had me scraching my head so I thought I would mention it.
  • Jay Edgar
    SBR MVP
    • 03-08-06
    • 1576

    #2
    I don't use them that much, but even in limited use that has happened to me as well, particularly lately.

    $145 as an "available amount" is on the high side, in my limited experience.
    Comment
    • pags11
      SBR Posting Legend
      • 08-18-05
      • 12264

      #3
      this is good for the book that they limit their risk, but bad for bigger players...perhaps they should list themselves as an "exchange" then so there isn't confusion...
      Comment
      • acw
        SBR Wise Guy
        • 08-29-05
        • 576

        #4
        The owner of Canbet is a guy called Mark Read. His nick name for a long time has been The Chicken. Nothing has changed.
        Comment
        • Winston Smith
          SBR Wise Guy
          • 09-26-05
          • 752

          #5
          $145 as an "available amount" is on the high side, in my limited experience.

          Yikes. Really?
          Comment
          • BAUS
            SBR MVP
            • 08-10-05
            • 2191

            #6
            I know exactly what you are decribing Mudcat. The exchange analogy is very accurate, but I think this is a mechanism they have in place to limit their exposure, in case one side gets pounded hard in a short period of time.

            SIA does a similar thing as well. I will try to bet $550 on a ML, and I get a message saying "the most you can bet on this game is $78.59".

            BAUS
            Comment
            • Jay Edgar
              SBR MVP
              • 03-08-06
              • 1576

              #7
              Originally posted by BAUS
              "the most you can bet on this game is $78.59".

              BAUS
              plus tax
              Comment
              • Mudcat
                Restricted User
                • 07-21-05
                • 9287

                #8
                I had it happen a couple more times today. Maybe it's more common than I originally let on.
                Comment
                • Dark Horse
                  SBR Posting Legend
                  • 12-14-05
                  • 13764

                  #9
                  Happened to me several times as well. I thought it was a mistake in the software or something. When it happens I just place the bet somewhere else. No big deal.
                  But they should lower the vig if they want to be an exchange.
                  Comment
                  • pags11
                    SBR Posting Legend
                    • 08-18-05
                    • 12264

                    #10
                    it really sounds like they need to address this or run the risk of losing players...
                    Comment
                    • darkghost
                      SBR MVP
                      • 09-19-05
                      • 1721

                      #11
                      It happens to me alot on overnight nba lines just like you describe. On one occasion it said the maximum I could bet was $0.01!! So just to see if it would accept a penny wager I tried and it got accepted.
                      Comment
                      • Mudcat
                        Restricted User
                        • 07-21-05
                        • 9287

                        #12
                        Originally posted by darkghost
                        It happens to me alot on overnight nba lines just like you describe. On one occasion it said the maximum I could bet was $0.01!! So just to see if it would accept a penny wager I tried and it got accepted.

                        You must have really sweated out that game.
                        Comment
                        • stump
                          SBR MVP
                          • 09-14-05
                          • 1715

                          #13
                          i had this happen to me numberous times in the nfl season, finally it was the last straw for me with them. Canbet was once a great book, but now are just mediocre. Too many others out there that are better than to mess with them
                          Comment
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