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Betting limits

Discussion in 'SPORTSBOOK' started by flv, Apr 27, 2016.

  1. flv

    flv
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    SportsBook Bookie Survivor/Pickem Mgr
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    Q - Not that I want to, But why are there limits on the Bets!? Why not run it like "Texas Hold-um where you can go all in on a bet if you wish!!?!

    A - Most of the NFL Draft markets are very volatile. Some exist only on this forum. I'm not around 24/7 to keep prices updated. Some members only want to bet on an incorrect price - such as straight after a team announcement. When a market isn't stable there are low limits to give all members a fair chance and prevent someone gaining an unfair advantage. If people are betting on 1 side of a wager it will affect the market price. Most people aren't betting the limits. When someone makes the maximum number of wagers they're currently permitted on a specific outcome I review the price and then increase the maximum number of wagers.

    If somebody makes a request to wager substantially more than is currently permitted that request would be accommodated, but it would be at a fair market price. EG the current price on Ezekiel Elliott is 1.9. If you have bet the maximum and you want more i'll lay you $5K more at 1.84. If you want $10K on top of that it'll be at 1.78. Beyond that you can have what you like, but it'll be at 1.72.
     
  2. DaveFan'51

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    I have never heard of a Sportsbook that changed the Betting odds just because some "Whale" decided he wanted to bet a lot more than anyone else.
     
  3. flv

    flv
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    Really?

    Try betting $20K with a big established bookie like William Hill on a minor and unstable market and see what response you get. They have Treadwell at 1/2 to be the 1st WR selected. They're currently advertising Fuller, Coleman, and Doctson at 5. Trying betting $20K on Fuller at 5 then come back to me.

    It's all about balancing books. If money comes in on 1 side the price shortens and the market moves. It doesn't matter whether it's a whale with 1 bet or a fan base all putting small amounts on their hero.
     
  4. DaveFan'51

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    From what I have seen Books do,. If they post certain odds and you walk in to make a bet at those odds, that's the Bet! They adjust the Odds after the Bet to balance the Books, as you say, after your bet! Simple.
     
  5. flv

    flv
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    http://www.cbssports.com/nfl/eye-on-football/25429380/man-loses-over-150000-betting-on-the-seahawks-to-beat-the-rams

    Why does a guy walk around Vegas with 165 large in a briefcase looking for 1/11 when every internet bookmaker was laying 1/7 or 1/8 on a solid event like an NFL game with a stable betting market? The answer is because those internet bookies won't lay a stranger a $15K liability at those prices. Every bookie has limits regardless of whether they're $500 or $100,000. If you don't believe me go to the SBR forum and read what professional and social gamblers post about the biggest bookies on the planet.

    My brief here is not to make a profit but to encourage ROD participation. To that end betting markets are geared towards the Rams and the betting margins are wafer thin. Prices on the Rams are on the generous side because we want members backing and cheering for the Rams, not their opponents.

    The Sportsbook is here as a competition. Members can compete to see how much they can win, how good their judgement is, or whether they can win more than someone else. It's only a competition if it's realistic and fair. I can lay odds of 1000 of B following A and C following B. Everyone would eventually stop using the Sportsbook because betting would become pointless. Winning wouldn't require skill just perseverance and the ability to click a button.

    If you want money from the Sportsbook you are going to have to win it fair and square. I'm not going to give you $1M or even $1. If you want to wager every $ROD on a stable event at fair odds - such as the Rams at 66 to win the Super Bowl - you will be accommodated. If you want to wager every $ROD on an error or a typo you are crap-out-of-luck. You can bet the current maximum, as can everyone else, and if you want more it will be at a smaller, fairer price when the book is adjusted.*

    * Bets on typos won't be honoured. If a price should be 10/11 and it comes up as 101/1 it will either be settled at 10/11 or refunded as @CGI_Ram sees fit.

    If you think this approach is wrong or unfair you are welcome to talk to @CGI_Ram about changing it or becoming a ROD Bookie. I have no problem with someone else putting in the time and effort to keep the ROD community interested.
     
  6. DaveFan'51

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    I am not asking to make money off of a typo or an error. Just that If you post X Odds I can Bet what ever I want at those Odds If I have the ROD $$$$ to do so! I'm not asking for anything else!
     
  7. flv

    flv
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    If you want it done that way you can step up to the plate and offer to run it.

    If it's no limit betting only i'll put up a no limits book on the Super Bowl at comparatively stingy odds and that'll be it. Nothing else. No NFC Championship, no NFC West, no Draft bets, no Rams 1st pass, no Rams OL via PFF, zip, nada! I'm only interested in doing this if it's a fair and realistic contest between Bookie and Punter. It's not worth investing large amounts of my time researching and maintaining books only for winners to be decided by those who can identify mistakes.
     
  8. DaveFan'51

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    You are now talking to AIR!!!!