Discussion
Not all strictly football related but worth a read:
http://www.bbc.co.uk/news/business-36099387
So how do Ladbrokes get shafted by a string of favourites winning at Cheltenham yet also finds itself with a £3 million liability if rank outsiders Leicester win the Premier League ?
They should be cleaning up if Leicester win, or there are some seriously shrewd punters out there.
http://www.bbc.co.uk/news/business-36099387
So how do Ladbrokes get shafted by a string of favourites winning at Cheltenham yet also finds itself with a £3 million liability if rank outsiders Leicester win the Premier League ?
They should be cleaning up if Leicester win, or there are some seriously shrewd punters out there.
Bluedot said:
They should be cleaning up if Leicester win, or there are some seriously shrewd punters out there.
Based on Leicester being around 5000/1 to win the league, they'd only have to had accepted £600 in bets wagered to be liable for £3mil. However, they must've taken plenty more than that in bets on the likes of City, Chelsea, Man u, Arsenal etc winning the league. andyjo1982 said:
Bluedot said:
They should be cleaning up if Leicester win, or there are some seriously shrewd punters out there.
Based on Leicester being around 5000/1 to win the league, they'd only have to had accepted £600 in bets wagered to be liable for £3mil. However, they must've taken plenty more than that in bets on the likes of City, Chelsea, Man u, Arsenal etc winning the league. TwigtheWonderkid said:
This. They are not saying their £3m liability is a loss maker. They probably took £50m on the big 4.
Then surely it's not a liability ? If a bookmaker or even a punter playing on the exchanges says they have a liability of £x on a particular outcome then that takes into account all other trades on that specific market.
SilverSpur said:
It's not shrewd punters it's idiotic dreamers. Some of which have already picked up £70 grand..... Idiots.
Bookies clean up big style when outsiders win. A few headline payouts but they save millions in small returns on favourites.
Exactly, so I don't get the £3 million liability if Leicester win, it makes no sense. And if it doesn't take into account the millions they would have taken on the 'big boys' then it's not a liability at all.Bookies clean up big style when outsiders win. A few headline payouts but they save millions in small returns on favourites.
Bluedot said:
TwigtheWonderkid said:
This. They are not saying their £3m liability is a loss maker. They probably took £50m on the big 4.
Then surely it's not a liability ? If a bookmaker or even a punter playing on the exchanges says they have a liability of £x on a particular outcome then that takes into account all other trades on that specific market.
If there's a flood, an insurance co may say they have a 10 million liability, the amount they are likely to pay. That's got nothing to do with the 20 million they collected in premiums.
The bookies will make billions when every punter that suddenly thinks their team, no matter how shot, can win the league and make them rich next season. People will be putting 50 quid on the likes of WBA, Crystal Palace, Watford, Everton, who ever gets promoted.
And then the usual suspects teams will dominate next year.
Even Spurs fans will be chucking money down the drain.....
And then the usual suspects teams will dominate next year.
Even Spurs fans will be chucking money down the drain.....
TwigtheWonderkid said:
Any money they stand to pay out is a liability. That's standard business talk.
If there's a flood, an insurance co may say they have a 10 million liability, the amount they are likely to pay. That's got nothing to do with the 20 million they collected in premiums.
Sorry, we'll agree to disagree there then. In bookmaker speak, talking about a liability on a certain outcome means that is your profit/loss based on how you have formed your market.If there's a flood, an insurance co may say they have a 10 million liability, the amount they are likely to pay. That's got nothing to do with the 20 million they collected in premiums.
Bluedot said:
TwigtheWonderkid said:
Any money they stand to pay out is a liability. That's standard business talk.
If there's a flood, an insurance co may say they have a 10 million liability, the amount they are likely to pay. That's got nothing to do with the 20 million they collected in premiums.
Sorry, we'll agree to disagree there then. In bookmaker speak, talking about a liability on a certain outcome means that is your profit/loss based on how you have formed your market.If there's a flood, an insurance co may say they have a 10 million liability, the amount they are likely to pay. That's got nothing to do with the 20 million they collected in premiums.
As various clubs fall by the wayside thru the season, those liabilities disappear, until now, when they are left with only a liability on Leicester and Spuds. But with all the pre season faves out of the running, they are going to be quids in regardless of who wins it out of those 2. But those 2 still have a liability.
TwigtheWonderkid said:
Not on a long term bet. In August, when the bookies had taken bets on who would be PL champs 9 months later, if you'd asked them what their liability was for each club, they could tell you how much they would pay out on each club winning.
As various clubs fall by the wayside thru the season, those liabilities disappear, until now, when they are left with only a liability on Leicester and Spuds. But with all the pre season faves out of the running, they are going to be quids in regardless of who wins it out of those 2. But those 2 still have a liability.
Of course they do but as you say, they will be quids in from the other bets they have layed.As various clubs fall by the wayside thru the season, those liabilities disappear, until now, when they are left with only a liability on Leicester and Spuds. But with all the pre season faves out of the running, they are going to be quids in regardless of who wins it out of those 2. But those 2 still have a liability.
We disagree on the wording of it but apart from that we are in agreement.
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