City win nets punter £160k (1 Viewer)

[jon92]

Coventry City coming back to beat Preston North End 3-2 last night not only cheered the majority of the 12,655 crowd at the Ricoh Arena and the City supporters watching at home and abroad, it proved a good night for one Betfair punter.
With a minute to go, Coventry City were 800/1 to beat Preston 90 mins. Betfair have announced that someone bet £200 on City winning and picked up £160k.

 

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[covcity4life]

fairplay!:claping hands::claping hands::claping hands::claping hands:

 

[jon92]

Fair enough put £1 on it but £200 wtf

 

[ccfcway]

mental, thats someones money that, its not Betfair who has lost out.

Whoever had £160k in their betting account to be able to lay that much must be crying this morning

 

[jon92]

mental, thats someones money that, its not Betfair who has lost out.

Whoever had £160k in their betting account to be able to lay that much must be crying this morning

They won £160k not lost it

 

[dantheman]

Coventry City coming back to beat Preston North End 3-2 last night not only cheered the majority of the 12,655 crowd at the Ricoh Arena and the City supporters watching at home and abroad, it proved a good night for one Betfair punter.
With a minute to go, Coventry City were 800/1 to beat Preston 90 mins. Betfair have announced that someone bet £200 on City winning and picked up £160k.

That's the rent sorted then!!

 

[ccfcway]

nope, someone lost it as well

for them to win 160k, someone would have had to have 160k in their account to give them,

Betfair isnt a normal bookies, they just take a comission. they allow you to be the bookie,

so, in effect, its like me taking your £200 Jon and keeping it if cov didnt win, but they did, so i have to give you £160k. Betfair make something like 4% comission on anyones winnings

 

[jon92]

nope, someone lost it as well

for them to win 160k, someone would have had to have 160k in their account to give them,

Betfair isnt a normal bookies, they just take a comission. they allow you to be the bookie,

so, in effect, its like me taking your £200 Jon and keeping it if cov didnt win, but they did, so i have to give you £160k. Betfair make something like 4% comission on anyones winnings

Aw yh true I always foRget betfair like that

 

[Noggin]

800/1 seems nuts. I don't know how often the better team both on paper and on the night wins at home from a goal down in the 89th minute but it's gotta be significantly more often than a 1 in 800 chance. Especially since if the odds are 800/1 it should really be significantly less likely to happen than every 800 times as there needs to be profit in it for betfair and some profit for yourself. ie you'd be nuts to put up odds of 1/1 for a coin toss.

 

[ccfcway]

betfair dont care, they get comission on the "winnings" and there is always a winner in ever bet, so its no lose for them.

 

[Otis]

Fair enough put £1 on it but £200 wtf

Exactly what I was thinking.

£200 with just a minute left?

We have now heard about the £160,000 he's won. No mention of the 800 grand he's lost over the past 12 months though.

 

[LastGarrison]

You'd have to imagine it would be a High Street bookmaker with that sort of dough.

Either way someone has made a monumental fuck up!!

Shame.

 

[CovLis86]

Theb160k would have been split between a few people offering thos odds. But still, crazy money on a crazy result. someones got that book from back to the future.

 

[MatthewWallis]

No way would it have been 800/1

 

[Joy Division]

nope, someone lost it as well

for them to win 160k, someone would have had to have 160k in their account to give them,

Betfair isnt a normal bookies, they just take a comission. they allow you to be the bookie,

so, in effect, its like me taking your £200 Jon and keeping it if cov didnt win, but they did, so i have to give you £160k. Betfair make something like 4% comission on anyones winnings

Holy shit! :claping hands:

 

[jon92]

No way would it have been 800/1

we were loosing 2 1 in the 90th min with 5mins to go? and its what odds the other person gave the punter

 

[Astute]

In the 90th min nobody knew there was 5 mins left after 90 mins.

I save them sort of bets for clubs like Manure losing at 90 mins. Would never put £200 on though. At 800 I would risk losing a couple of quid.

 

[LastGarrison]

Theb160k would have been split between a few people offering thos odds. But still, crazy money on a crazy result. someones got that book from back to the future.

In order to get that much money on at exactly those odds in that couple of minute period that they did I would put decent money on it that it was just one bookie/layer though.

 

[Nick]

What happens if they don't have the prize money in their account? Do they need to have the money there for the potential win before they can take the bet?

 

[Brighton Sky Blue]

Stories like that encourage reckless betting from those who can't afford it.

 

[Brighton Sky Blue]

What happens if they don't have the prize money in their account? Do they need to have the money there for the potential win before they can take the bet?

You put down both your stake and the potential loss down as 'insurance'.

 

[mhuntcov1989]

mental, thats someones money that, its not Betfair who has lost out.

Whoever had £160k in their betting account to be able to lay that much must be crying this morning

Hopefully it was Westley... haha !

 

[Deleted member 4232]

I love betfair

 

[CTID]

haha fair play to them! It may not be wreckless, it may just be like the poster on here who had a few wins so its was "free money" so thought sod it ill give it a go. Granted i would have gone with £5 not £200 but still fair play to them.

Its interesting though, that you can be the bookie. With football bets rarely coming in, you could clean up being the bookie on betfair. Do you state how mush you are willing to stake in potential payout?

 

[Nick]

Apparently it isn't true. Oh well would have been nice!

 

[CUS Wyken]

Apparently it isn't true. Oh well would have been nice!

I know Cov went to 900's on betfair. probably someone had a few quid on it.

 

[Astute]

Its interesting though, that you can be the bookie. With football bets rarely coming in, you could clean up being the bookie on betfair. Do you state how mush you are willing to stake in potential payout?

You state the odds you are happy to offer and how much you are willing to lose. The odds that are highest get taken first. Otherwise you have backers that want higher odds....might be just 0.1 more than being offered. This is the pink column on betfair. You put your bet into this column. You are then the layer, just the same as if you offered odds.

There is another way of making money which I use. Bookies make the odds well before the games. Injuries change teams. The odds have already been done though. Find one that has come down a bit on betfair. Say for instance one has dropped from 3/1 to 2/1. Go to your local bookie or check online to get nearly 3/1. Bet lets say £100 at 3/1 and lay at 2/1. If you lay to lose £250 at 2/1 you make a profit of £50 whatever the score Problem is it takes a lot of research although you are onto a winner......as long as punters take the odds you offered.

 

[thegameaintstraight]

In the 90th min nobody knew there was 5 mins left after 90 mins.

The ref did. (Not suggesting anything at all).
Betfair markets move in mysterious ways, where did this £160k story start?

 

[Sawyer]

Ive never seen a team to win to go that high, normally gets suspended when it get's that ridicolous, never used betfair though so cant really comment.

 

[Astute]

In the 90th min nobody knew there was 5 mins left after 90 mins.

The ref did. (Not suggesting anything at all).
Betfair markets move in mysterious ways, where did this £160k story start?

The Ref didn't know until the board was held up. He then interprets it to his decision. I think we played nearly 6 mins over.

There are a collection of people that have a competition on how far they can go on a tenner. They offer odds of about 100/1. Mainly football 8 goals or more. £10 becomes £10.10. Then £10.21. It moves a fair bit quicker after about 15 winning bets. Have seen some massive losses....although they have only lost a tenner of their own money. There is a massive betfair community with chatboards. Like on here but all about gambling and the next supposedly good bet.

 

[thegameaintstraight]

The Ref didn't know until the board was held up. He then interprets it to his decision. I think we played nearly 6 mins over.

Indeed we did thank goodness, but does not the ref decide what time goes on the board?

 

[Astute]

I could be wrong but I thought it was the job of the 4th official these days....they do need something to do