Sorry to keep harping on about this, but its just American betting is so much different to European. I am only posting in the hope that by swapping mentalities, everyone can benefit. I have certainly not got any answers but the speed and fluctuation of prices in the off-shore books suggest a low customer base and over competative market. This is not a lot different to the British bookmaking pecking order, where small books are constantly harrassed by the bigger books prices.
To give an example, when I was bookmaking, a small book, A is playing B, The big books make their prices, A is EVs, B is 4/5 . One of my customers comes in and says big boys are offering 4/5 over this game, forget that this customer is off the books for tax purposes, and any tax free hedgeing outs I have are in the same boat as me, I am basically stuck with a bet on A at odds of 5/4 with any tax implications involved. I was not as big as these off-shore books so it seems to me, they have to make a judgement call, just like a punter. It ends up in a duck and dive exercise that I have been through that will drive you mad as a book. Watching Pinnacle, which I have done because posters on here seem to talk about them more, they are nothing more than a bigger version of me when I was bookmaking, basically gambling with the odds in their favour. The difference with many of the European books is they have the back-up of high percentage, high turnover markets like racing and soccer.
I hope this helps, as I said before, I am not trying to teach you Americans how betting works, only the different mentality. On the other hand, I am learning much from you on this Forum that I can take advantage of the British Books.
To give an example, when I was bookmaking, a small book, A is playing B, The big books make their prices, A is EVs, B is 4/5 . One of my customers comes in and says big boys are offering 4/5 over this game, forget that this customer is off the books for tax purposes, and any tax free hedgeing outs I have are in the same boat as me, I am basically stuck with a bet on A at odds of 5/4 with any tax implications involved. I was not as big as these off-shore books so it seems to me, they have to make a judgement call, just like a punter. It ends up in a duck and dive exercise that I have been through that will drive you mad as a book. Watching Pinnacle, which I have done because posters on here seem to talk about them more, they are nothing more than a bigger version of me when I was bookmaking, basically gambling with the odds in their favour. The difference with many of the European books is they have the back-up of high percentage, high turnover markets like racing and soccer.
I hope this helps, as I said before, I am not trying to teach you Americans how betting works, only the different mentality. On the other hand, I am learning much from you on this Forum that I can take advantage of the British Books.
