Spurs. Next 3 Prem Games.

[Houdini]

Thank you, Manwhore...

Damn, i only bet once on 4 & 5......damn and blast!

 

[Houdini]

I can bet as many times on the same selection as i choose, but more importantly, so can anyone else.

 

[Manwhore]

Houds,


Can you give me half a mil in v, and i'll sneakily re-open the bets for 10 mins to place half on 7 points and half on 9 points.


That's not cheating is it.

 

[Manwhore]

Houds,


Can you give me half a mil in v

I didn't want to seem greedy and ask for £1m :lol:

 

[seany]

Houds,


Can you give me half a mil in v, and i'll sneakily re-open the bets for 10 mins to place half on 7 points and half on 9 points.


That's not cheating is it.

While you got it open you can remove my bet thanks.

 

[Houdini]

Houds,


Can you give me half a mil in v, and i'll sneakily re-open the bets for 10 mins to place half on 7 points and half on 9 points.


That's not cheating is it.

:lol:

No, of course it ain't...

 

[Manwhore]

so where's my half a mil then :shrug:

:lol:

 

[Houdini]

I'm trying to hack into Seany's account to start you off with 29750v....shhhhh a minute!

 

[seany]

I'm trying to hack into Seany's account to start you off with 29750v....shhhhh a minute!

There you can have it.

 

[spurslenny]

Am I sensing a bit of skullduggery at play?

 

[fatpiranha]

Actually this is quite literally a license to print money. The odds are massively incorrect apart from the Spurs to get 9 points and Spurs to get zero points options which is just slightly generous. When formulating their books bookmakers set the odds to form what is known as an 'overround'. In a perfectly fair book the overround would be 100%. Anything less than this and you can bet on all options in the correct proportions and guarantee a no risk profit. Sometimes with different bookmakers offering different odds the overround drops below 100% which allows punters to cover all possible options an guarantee a profit. This is known as 'arbing' and bookies hate it and will close the accounts of any punters they suspect of doing it. Generally the overround for premiership matches is around about 103% if you add up all the best available odds. In reality most punters don't always have accounts with all of the bookmakers and don't take the best available odds which usually means the overround is about 105%. This is known as the bookmakers 'vigorish' and is how they make their profits.

The overround in this particular book is a staggeringly low 33.07%. That means that if you correctly stake on all options you are guaranteed to more than treble your investment. Any bookmaker offering such odds would instantly be bankrupted.

I'm sure Houds hasn't done this deliberately but has simply miscalculated. I'm not sure quite how but there are several possibilities. For example there is only one way to get 9 points (win all matches) or 0 points (lose all matches) whereas to get 7 points you need 2 wins and a draw but the draw can come in any of the 3 matches. This means you can win your bet via WWD, WDW, or DWW routes. 3 different ways. For 4 points there is WLD, WDL, DWL, DLW, LWD, LDW ie 6 possible ways. I suspect this is what Houds has failed to take into account.

 

[haxman]

I suspect he didn't really care tbh. I doubt there's very little Houds doesn't know about bookmaking.

 

[fatpiranha]

I suspect he didn't really care tbh. I doubt there's very little Houds doesn't know about bookmaking.

I don't know Houdini but I would prefer to give him the benefit of the doubt and assume he has made an honest mistake. As he has made by far the biggest bets on this market to assume that it was done deliberately is tantamount to accusing him of cheating.

 

[haxman]

I don't know Houdini but I would prefer to give him the benefit of the doubt and assume he has made an honest mistake. As he has made by far the biggest bets on this market to assume that it was done deliberately is tantamount to accusing him of cheating.

Vbookie tends to be run to favour the punter mate, I wouldn't worry about it :up:

 

[Houdini]

Actually this is quite literally a license to print money. The odds are massively incorrect apart from the Spurs to get 9 points and Spurs to get zero points options which is just slightly generous. When formulating their books bookmakers set the odds to form what is known as an 'overround'. In a perfectly fair book the overround would be 100%. Anything less than this and you can bet on all options in the correct proportions and guarantee a no risk profit. Sometimes with different bookmakers offering different odds the overround drops below 100% which allows punters to cover all possible options an guarantee a profit. This is known as 'arbing' and bookies hate it and will close the accounts of any punters they suspect of doing it. Generally the overround for premiership matches is around about 103% if you add up all the best available odds. In reality most punters don't always have accounts with all of the bookmakers and don't take the best available odds which usually means the overround is about 105%. This is known as the bookmakers 'vigorish' and is how they make their profits.

The overround in this particular book is a staggeringly low 33.07%. That means that if you correctly stake on all options you are guaranteed to more than treble your investment. Any bookmaker offering such odds would instantly be bankrupted.

I'm sure Houds hasn't done this deliberately but has simply miscalculated. I'm not sure quite how but there are several possibilities. For example there is only one way to get 9 points (win all matches) or 0 points (lose all matches) whereas to get 7 points you need 2 wins and a draw but the draw can come in any of the 3 matches. This means you can win your bet via WWD, WDW, or DWW routes. 3 different ways. For 4 points there is WLD, WDL, DWL, DLW, LWD, LDW ie 6 possible ways. I suspect this is what Houds has failed to take into account.

A lovely read...however, have you taken into account the odds on ALL of the outcomes in ALL of the combinations?
The book was meant to have single betting only on it and the odds were enhanced to go along with that.
Unfortunately, or fortunately, whichever way you look at it, multiple bets were mistakenly allowed, and once someone had laid multiple bets it would have been wrong of me to change it and deny the same right to other punters.

You also haven't read my comment stating that this is an early Christmas present bet for SC punters.


Don't worry, it wont be happening again, it's back to single betting on this type of bet from now on!

 

[fatpiranha]

A lovely read...however, have you taken into account the odds on ALL of the outcomes in ALL of the combinations?
The book was meant to have single betting only on it and the odds were enhanced to go along with that.
Unfortunately, or fortunately, whichever way you look at it, multiple bets were mistakenly allowed, and once someone had laid multiple bets it would have been wrong of me to change it and deny the same right to other punters.

You also haven't read my comment stating that this is an early Christmas present bet for SC punters.


Don't worry, it wont be happening again, it's back to single betting on this type of bet from now on!

In answer to your 1st question then yes; that is exactly what an overround does. Obviously there are only 27 possible variations (win, lose or draw over 3 events (ie 3x3x3 =27) with different odds for each outcome for each event. When I first worked for a bookmaker 32 years ago we had to do this rather tedious process with pen and paper but now there are hundreds of bet calculators online which will give you the answer in under a second.

The number of times you can bet on event is totally irrelevant. You can bet with a bookmaker as many times as you like on the same event. The problem is the massively incorrect odds.

As for it being an early xmas present for SC punters then the fact that you have bet 425k, Yid-ol 200k and all the rest of the SC punters added together just over 196k somewhat casts doubt on your protestations of altruism :roll:.

I realise that vbetting is just a bit of fun and that it doesn't matter a jot in reality but there is the slight danger that someone could mistakenly get the impression that they could win with real money based on their vbetting performance having won lots inadvertantly betting on a market such as the one you have posted here.

If you supply me with the odds you are using for each match i'll happily calculate the correct odds for this market.

 

[spurs mental]

I like free vCash

 

[Houdini]

I like free vCash

I forgot to tell you what you will be expected to do with your winnings...should you all win...ray:


save it for the comp that's coming up...:up:

 

[mattyspurs]

What comp?

 

[mattyspurs]

This is real money right? Remember Houdini, I gave you my bank details for you to pay my winnings straight into. You had better not be stringing me a line!!