Quote:
“I should check and read the thread including the links before making statements.”
minisidewalk - Sorry I did read the 'Bookies section' and all of the threads before replying as I was under the impression that was how forums worked.
I was not disputing Ladbrokes has taken tens of thousands of pounds worth of bets just not off one or two people (As would be the case in a Horse Race). This fact Ladbrokes 'shortened' the price from 1/12 to 1/33. indicates that there has been lots of 'money' coming for Lisa. Bookmaking is all about manging your liabilities, that is why you get fluctuations in the prices. There is no way you could go into your local high street bookies and put a bet on for thousands of pounds for Big brother. All events which Odds are offered are subject to certain traiding principles, Ladbrokes Principles for Big Brother are £100 maximum bet. If you dont believe me go into your local shop tomorrow and ask what is the most you can have on BB.
TV CRITIC Is Correct about betfair - As long as their is someone on the other end willing to 'lay' your bet you can get on bets in fairly substantial amounts (and better prices than the high street)
I was only pointing out that Bookies such as Ladbrokes only price up these events in order to attract press coverage and potential new customers. They are in a no loose situation even if they have to pay out again.
For arguments sake say they took £30,000 worth of bets on Lisa to be evicted £30,000 @ 1/33 means that they are paying out only £909.09* in winnings........thats not bad considering the press attention they have recieved for paying out early
*£30,000 @ 1/33 Returns £30909.09
If bookmakers had their way they would not touch big brother betting with a barge pole - If it atracts new users to either their shops or website they are happy but not at the cost of hundreds of thousands of pounds. Their bread and butter is still Horse racing - thats how they make the REAL money.
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