Vaal Race 2 Betting

Victory Serenade was withdrawn with a 5% deduction this morning,and the bookmakers syndicate adjusted Rockingandrolling from 12/10 into 11/10,Shea Shea from 16-10 into 15-10 and Fast Forward from 7-1 into 5-1.

My problem lies with the adjustment on Fast Forward.On Interbet 30400 has traded of this horse at 16-1,a further 4690 at 14-1 and there is currently 9310 on offer 14-1.That all makes up a significantly larger amount than the claim of 25000 that the bookmakers offer,so how is it possible that this horse has shortened from 7-1 into 5-1 in this mornings opening betting.

Bookmakers have taken to shortening horses without any claim simply because it has been tipped by the tipster on USO,but why has a horse like this not in fact drifted from 7-1 out to 10-1?It seems like it is all one way traffic.

In Cape Town on tuesday the race time SP was bigger than 126% on every race,what's going on?Whoever adjusts the betting waits until about 2 or 3 minutes to race time before reducing the betting percentage from about 135% into 126%.Do the gambling board not have rules that govern the betting percentage,just like the casino where the has to be a certain percentage payout per machine.

It is no wonder the rumours continue to abound about racing being in trouble,punters are tired of this,it's about time something gets done about it.

Lets have exchanges and let market forces prevail.......A good start would be to allow,anyone who wishes too, to lay on INTERBET,as long as they deposit the funds so that no credit is involved.

10% commission Rob? 6% TAX and 45 for the exchange?

Hibs,
The6% tax is ok (tax is just a fact life)but as locals became educated to the benefits (and fun ) of laying as an added dimension (and then the whole new world of "trading") Interbet would be inundated with new accounts,and bearing in mind that all stakes and/or liabilities have to be in those accounts in cash,consider the returns to the facilitator in interest alone.Commisions on transactions could be reduced to a nominal amount(or even eliminated) and still have a lucrative business.

I'm not sure what you mean by "45 for the exchange" but I assume you mean company tax.....if so,bear in mind that it is a percentage of the gross profit of the facilitator,not its turnover ,or that of its customers.

The issues are far from insurmountable and could be made to work with just a little good sense.

I would be very surprised if INTERBET has not been set up in such a way so as to have a head start when the law changes,and within days installing the necessary programme changes to facilitate local layers,and so becoming SA's first open exchange.

sorry rob the `45` was meant to read 4%

I'm with Rob on this one punters should have the opportunity to lay aswell . There have been countless occasions whre i bet an atc and miss it in the last without having the opportunity to lay off a certain portion to ensure a profit win or loose .

I noticed today that Hollywood had match race betting, so technically speaking if you are backing the one you are laying the other?

Sorry Dave ,not quite true....
So far I have only seen 1 match per race,so you cannot choose your horse to lay unless it happens to be a "chosen" one,but more importantly if you back horse A and it runs,lets say 5th,and horse B runs 4th you lose.......but if you had layed horse B on an exchange you would be a winner!

True Rob was just making a point, I am fully aware of the working of an exchange and in fact spent many days trying to go through the card just picking losers Its not as easy as it sounds and funny enough I would appear to be good at it now in my search for winners

lol