The Best Bookie you've Never Heard of
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Either you haven’t heard of this site, or you have and have been keeping it for yourself.
Black Type Bet promise not to restrict accounts. and they’ve been going for a month or two now so seem reputable.
Not going to post links as I’ll get accused of being an affiliate wanker, and I don’t do that as my name’s not Matt.
I just want to see you lot batter this site to see how long they keep their promises.
Thank me later.
+0September 19, 2016 at 4:03 pm
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@mark The only way low margin trading can be a success, is by having a large turnover. This company is not doing anything to attract the average mug punter, but is doing all it can to find the bigger hitters. They are hoping that these punters don’t have a big enough edge to empty their satchel.
By not getting enough of the little guys who will lose regularly, to offset the winnings of the guys with the edge, they are treading a fine line between profitability and bankruptcy. One, that I currently think they are on the wrong side of.
Creating computer business models is one thing, but human nature will often put a spanner in the works, and they don’t always come out as you hoped they would.
But we’ll see, time will tell, who is right.
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Of course, I agree. The composition of punters will most likely determine their profitability… A long way from your original claim, though.
With regards to attracting the “right” punter, I do feel that they have a chance of succeeding – achieving their position on Oddschecker will help. The number of punters becoming disillusioned by high-street bookmakers has increased markedly (most won’t accept £50 E/W on a horse without calling a trader) and a huge proportion of them aren’t “sharps”.
Ultimately, it’s not difficult to beat traditional high-street bookmakers at bookmaking!
+0Found an interesting quote from a guardian article (first page googling “black type”) promoting the site:
“Black Type is adamant that it will not close winning accounts, with the sole caveat that customers using computer programmes to “arb” bets via betting exchanges – that is, take a price on their site and lay it on an exchange for a small, guaranteed profit – will be barred on a “three-strikes-and-out” basis”
It doesn’t take a computer program to arb horses to the exchange, I can see quite a few people getting their accounts closed here. I think arbing horses is the only real incentive to join this site, considering there’s no signup or moneyback specials on offer.
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I don’t think that they will necessarily struggle. Big thing is that they don’t offer BOG.
So say a horse is 2/1 all day and close to the off moves to 3/1. Say bet365 take total bet of £1,000’s on this horse at 2/1 and black type too. Now just before the off the odds increase to 3/1. bet365 are in the situation where they have to pay ALL bets out at 3/1 but black type are in a very nice situation with this horse where they are paying most ppl at 2/1 where the fair price of the horse is 3/1. So not only is their liability on this horse winning much much less than Bet365’s, but their probability of having to pay out on him at all is starting to look good for them as he drifts. They will be able to push the price higher than the other bookies in theory while still keeping themselves less exposed.
I think they can do this without necessarily having to have a bigger liability than the rest of the bookies – without necessarily having to thread a fine line.
What I hope will happen is that they can make it successful and put pressure on the other bookie’s to compete and offer the same “winners welcome” promise.
Anyway someone mentioned Jim Dandy who I notice was at 1.8 all morning and drifted out to an SP of 2.0. So Black Type probably had smaller liability on him than everyone else and so perhaps why it was easy for them to offer a price even a little higher than the true value and so easy for us to grab an arb. Maybe that is what to watch out for – drifters at the top of the field, maybe that’s where we will find the value at Black Type?
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How will they know people are arbing unless theyre either tracking them or just gonna ban people who they think are doing it?
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They are not looking to ban arbers, but to ban traders who use automated bots to place bets.
It’s obviously a bit subjective what a ‘bot’ is, but given the claims they’ve made about being punter friendly, I assume they mean that they only look to ban people who place many arbs very frequently, i.e. placing arbs 5 a minute or something silly like that.
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The Johnson’s back…
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Cheers for the heads up Johnson!I have used twice so far for each way arbing and I feel the odds have been good and fair even on the bad each way races.As long as they stay open for business continual profits should be available!Thanks
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