Sorry I thought it was obvious that there Was more than those 11 but looking back I don't see why it would be lol. Anyone can still back out if they want, will refund. Like I said, it's my first time, I'm aware that some prices may not be vgood, if Dubai or Ed or anyone wouldnt mind sending a quick pm about how to go about pricing it up for next time so it's more in line with a bookie that'd be much appreciated
George, Le knave booked.
Alex - completely understand. If I had a pound for every time I have felt something perfectly clear (as it has been in my head at the time) and subsequently not expressed it 100% I would be a wealthy man.
On novelty betting such as this bookies will generally take the Michael when it comes to their 'margin'. Whilst a football match odds market may bet to 104%, something like "Who killed Ken Barlow?" or "What colour hat with the Queen be wearing at Royal Ascot" will bet to more like 120%.
One might look at this (as a punter) and say "I'm being ripped off" in the latter, where, in reality the prices (and therefore the overround/margin) are much less certain in the latter examples. The extra fat on the market comes about (a) to protect the bookies from this to an extent and (b) because they can and people are generally less price sensitive in such markets (owing in part to less competition).
When pricing up something like this (24 runners), if confident in my ability to price the market I would still look to bet to around 130%. That gives you 1.25%/runner (in the halcyon days before Betfair ruined it for everyone horse racing SPs were approaching 2%/runner) which feels about right.
The problem you have is that those on here are a lot more savvy than the average bear. They will moan at the overround and tell you your prices aren't competitive enough. That, as a customer, is their prerogative, but given the volatility you are taking on (relative to potential profit), I would stand by my recommendation in order that you, as bookmaker, are getting an appropriate balance of risk:reward.
If you fancy sticking your balls out of the bathwater on this one, lay me £250 Cheong @ 12s??
VBOL, and apologies if earlier message was brief (I was on the mobile).
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