Trojan Posted 6 hours ago Share Posted 6 hours ago I had an argument with a long term big punter in the pub the other day. Another mate and I were discussing how the Fixed Odds at times are priced really strangely for particular horses for example Orchestral. Was she short in the market initially to attract your average punter to throw it in their multis? Like a form of reverse psychology. We also discussed the improbability of how often Fixed Odds end up equalling the Tote price - particularly AFTER the race has started. We decided that the TAB lays Fixed Odds on the Tote on a fairly regular basis. Anyway the big punter (won a few punter of the year competitions) piped in and said that the TAB didn't lay Fixed Odds bets and it was in the rules. So I had a spare moment and looked at the Racing Act legislation and the TAB Betting Rules. It specifically says in both that the TAB CAN lay bets. The TAB rules say - LAY OFF BETS 13. We may at its sole discretion place all or part of a Fixed Odds Bet accepted by us on another betting system to manage its financial exposure. Off to the Thirsty Thursday session to get my two jugs I bet!!! 2 Quote Link to comment Share on other sites More sharing options...
Wingman Posted 3 hours ago Share Posted 3 hours ago They need the tote pools to be high enough to make it viable and as they have successfully cannibalised the tote it probably is a Saturday event and even then only on the bigger days. An example would be where they are up to lose 60K on one horse in fixed odds but the tote pool is only 40K. Bottom line is the tote punter is the one most at risk 3 hours ago, Trojan said: We also discussed the improbability of how often Fixed Odds end up equalling the Tote price - particularly AFTER the race has started. That I do not have an answer to other than; UNLESS it is inhouse arbitrage Quote Link to comment Share on other sites More sharing options...
curious Posted 2 hours ago Share Posted 2 hours ago Will the new legislation mean that they can't lay off with overseas providers? Or will they be exempted from that? Quote Link to comment Share on other sites More sharing options...
Trojan Posted 1 hour ago Author Share Posted 1 hour ago 57 minutes ago, curious said: Will the new legislation mean that they can't lay off with overseas providers? Or will they be exempted from that? Good question. Who knows what the back end of their systems connect to. Their other brands in OZ? Quote Link to comment Share on other sites More sharing options...
Trojan Posted 1 hour ago Author Share Posted 1 hour ago 1 hour ago, Wingman said: An example would be where they are up to lose 60K on one horse in fixed odds but the tote pool is only 40K. Bottom line is the tote punter is the one most at risk But they wouldn't need to lay off much to mitigate some risk. The tote punter gets screwed anyway because even if they bet 10 seconds before race start the price changes after the race start. 1 hour ago, Wingman said: That I do not have an answer to other than; UNLESS it is inhouse arbitrage That would be feasible as again there doesn't appear to be a rule against it. Quote Link to comment Share on other sites More sharing options...
Trojan Posted 1 hour ago Author Share Posted 1 hour ago There is nothing in the rules to say they have to lay off on the same event either. Quote Link to comment Share on other sites More sharing options...
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