Gambling £4400 to win.....£44...and losing....

[Richy_Seagull]

I admit it. - FM-View Forums

Oh dear

 

[HalfTimeOrange]

Oh dear oh dear oh dear

 

[Guy Fawkes]

Harsh

 

[Lord Bracknell]

He needs to find a corrupt bank manager somewhere in Mali who is keen to get access to a UK bank account to help him launder $25,000,000 deposited seven years ago by an unfortunate local business man who has recently been drowned at sea, leaving no next of kin.

 

[Bad Ash]

Looks like 1066 posts on another forum then...

 

[Mackenzie]

I think the term is 'gubbed'.

 

[strings]

Can't see the other forum linked at the top (I'm at work), however I understand that it is not uncommon for people to bet huge amounts on 'dead certs' in order to gain a little money. There was a story in the news not long ago about a bloke who put thousands on Man Utd beating Burnley (I think).

 

[surrey jim]

Gutted.

I remember reading about someone who bet around £15,000 on Liverpool to beat a Welsh side (TNS??) a few years ago. He said it was the longest 90mins of his life

 

[vegster]

Tough luck really, thats the risk you take with gambling and no one forced him. I believe that the Saffers were 1-4 ON to beat England on the last day of the Cape Town test so there must have been a few losers there !

 

[Bozza]

This is nothing out of the ordinary at all.

1.01 (1/100) shots get stuffed all the time on Betfair - be it horses who look home and hosed or teams (football, basketball, american football etc) who look to have a game stitched up who then suffer some form of catastrophic collapse.

A couple of weeks ago, in a horse race I was watching on TV, a horse had gone out to 1000/1 in-running (ie people thought it was completely beat and had, literally, no chance), but came from nowhere to win. £272 had been exchanged at 1000/1 on that horse, meaning that someone (or some people) had lost £272,000 in trying to win £272. That would smart a bit.

 

[Captain Pugwash]

What a numpty!

 

[Jesus Gul]

This is nothing out of the ordinary at all.

1.01 (1/100) shots get stuffed all the time on Betfair - be it horses who look home and hosed or teams (football, basketball, american football etc) who look to have a game stitched up who then suffer some form of catastrophic collapse.

A couple of weeks ago, in a horse race I was watching on TV, a horse had gone out to 1000/1 in-running (ie people thought it was completely beat and had, literally, no chance), but came from nowhere to win. £272 had been exchanged at 1000/1 on that horse, meaning that someone (or some people) had lost £272,000 in trying to win £272. That would smart a bit.

Statistically it was a smart bet. If that's any comfort to the young lad! Freak result.

 

[andybha4life123]

u have to feel for the guy.

 

[Silent Bob]

Why would you even do that? What is the burning desire to have an extra 44 quid? Just doesn't make sense.

 

[Blackadder]

I guess this sort of thing id done all the time by professional gamblers. There will always be a time when you get caught out though!

I'm going to settle for a fiver to win at Villa park! Don't know the odds yet but I assume that they will be pretty substantial!

 

[severnside gull]

now I know why I never gamble

 

[NMH]

This is nothing out of the ordinary at all.

1.01 (1/100) shots get stuffed all the time on Betfair - be it horses who look home and hosed or teams (football, basketball, american football etc) who look to have a game stitched up who then suffer some form of catastrophic collapse.

A couple of weeks ago, in a horse race I was watching on TV, a horse had gone out to 1000/1 in-running (ie people thought it was completely beat and had, literally, no chance), but came from nowhere to win. £272 had been exchanged at 1000/1 on that horse, meaning that someone (or some people) had lost £272,000 in trying to win £272. That would smart a bit.

...NOT forgetting, of course, the pungent smell of a FIX.

But no-one imagines bookies could do such a thing, do they?

 

[Mtoto]

I guess this sort of thing id done all the time by professional gamblers. There will always be a time when you get caught out though!

I'm going to settle for a fiver to win at Villa park! Don't know the odds yet but I assume that they will be pretty substantial!

Yes and no. Different professionals have different approaches. Some never back at odds-on, others might have no more than one bet a week, some turn over millions a month.

It's only been possible to bet at 1.01 since Betfair came along, and lots of people are still trying to get it right. There's no doubt that in almost any horse race (or football match for that matter) there is a moment when 1.01 suddenly becomes value, the problem is judging it right and not jumping the gun. If you are backing true 1.02 or 1.03 chances at 1.01, you will bust your bank eventually. FWIW it's worth, I'd guess a team that's 4-0 up at home with 12 minutes left is more like a 1.001 chance, and I'm a bit surprised that he got the bet laid on the draw. Unlucky in every respect, really.

I once met the chap who was on the wrong end of one of the most famous cases of a 999-1 winner, when Tony McCoy remounted Family Business after falling early on in a chase, and then came home alone when all the other runners subsequently fell too. He laid £4000 to £4 (ie. bet four grand to win four quid) and lost, but he is a real specialist where short ones are concerned and as far as I know is still making a very good living from it.