SBR.
You may want to consider an educational section about live trading/betting. The basic A-B-C's.
You may want to consider an educational section about live trading/betting. The basic A-B-C's.
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There is some dumb in this thread, but it is clear that most of the people get it. The dummies are luckily firmly in the minority.
Can you answer this question?
What legitimate reason could there be for requesting 13 to 1 odds on a team that is already winning 8-2 in the bottom of the 7th inning? It is clearly an attempt at angleshooting. Only a moron can not understand this. It has nothing to do with normal trading strategies. No matter how much you babble about margins and such, it won't change this fact.Comment -
Concentrate next time, Danielsan.
Just kidding man, and live betting is something that I made a gob of money off of then lost it all very quickly. I lost my entire BR twice due to live betting. I have no money to gamble with right now because of this. Every time I grow another bankroll I swear to myself that I will not touch live betting and I don't for weeks. But it only takes that one time that you come home and see some dumb offer somebody has made that you know is not right, and you are off to the races again.
Most should stay away from live betting. It is the most addictive form of sports gamb.
Dark Horse, ease up man he understands live betting as well as you do. He made a mistake. I agree with him that the people who put up those offers should be banned permanently after 1 warning.
Dark Horse after reading your responses again, I think it may be you that doesn't understand what is being complained about here.Last edited by WileOut; 11-03-09, 03:06 PM.Comment -
interesting idea. i'll test it out tonight on the college football game. i'm gonna throw up some sick reverse lines and trap some noobsComment -
It's just part of the live-betting minefield, and it's always been that way. There are guys that do nothing else but lay the trap, and I suppose one or two good catches and they're set.
Soccer is one area where some specialize at it; Soon as a goal is scored and markets are un-suspended they are able to offer all sorts of tricky prices and reel people in. I'd recall more but this was explained to me one evening by a couple of chaps over about 30 pints, so my memory is hazy at best.Comment -
Ironically it was explained to me in a very similar fashion
I was big on trading in the early days of Betfair, but I know some of the people who operate now, and effectively they feed live PBP data (by watching for big markets) into mathematical models which produce pretty solid lines in MLB/NFL. Feed those into the Betfair market instantly and thus they gobble all the little mistakes people make straight up, which means these days I don't bother with it so much.
I know people who do it FT on tennis and do well, and I do OK at cricket -- those are momentum sports where a revised 'lay the leader' doesn't need much improvement to be a winner -- everything can change with one wicket or one break (point).Comment -
DarkHorse,
I understand the point you're trying to make and I agree that once an event goes live, its a free for all and no trades should ever be cancelled.
However, allowing traders to put up these trap offers does nothing but hurt the exchange and shouldn't be tolerated.
If you go to any Matchbook event they are featuring live, as soon as one side becomes a 10-1 or more favorite (-1000 or more), these parasites put up their trap offers. For example, if Team A is trading at a fair value of -1800, they will put in orders offering Team B around -1700. These parasites have no desire to trade anywhere near fair value and are putting up these orders to take advantage of traders who do.
When traders like KGambler get burned by these parasites, it makes them want to discontinue live betting at Matchbook and if enough real traders are effected, it can put a serious dent into the liquidity of these live markets and everyone loses.
All Matchbook management has to do is monitor any live trading event (which is something they should be doing regardless) and when they see these reverse trap orders being entered, they can easily find the person doing this and give them a warning not to do so in the future. If they do it a 2nd time, then their live betting privileges should be suspended for at least a week. If they do it a 3rd time, then they should be banned from placing orders in live events.
There is a big difference between a trader who is placing a -300/-300 market (25-75) at the beginning of an event hoping to take advantage of price fluctuations as opposed to a trader who waits for the event to get out of reach and then enters reverse orders hoping to trap live traders. Matchbook should have no problem differentiating between the 2.
Since you seem to be the only one defending these "trap" traders and you also took the same stance over at TradeSports a while back, I'm wondering if you personally make it a habit of submitting these bogus orders?Last edited by andywend; 11-04-09, 01:24 PM.Comment -
I despise these angle-shooting parasites that put up these offers. It takes time to scrutinize the prices more closely ... and it isn`t helping my eyesite by having to squint and put my face right in front of my monitor to figure out whether it`s a plus sign or minus sign that I`m looking at.
Personally, I think there should be an appeals process whereby you can submit your claim to Matchbook. There needs to be a cut-off point, because there is a difference between shitty odds and an obvious trap line. Maybe the cutoff point should be 10x or so .. so if the fair line is +1300, for example, maybe anything worse than +130 is considered `cancellable`.Last edited by Halifax; 11-04-09, 05:00 PM.Comment
