October Kicks Off - Just

That was not the best start to the new month. First market I enter and I find myself down £13!

After the success of September I was looking forward to getting October off to a good start. Unfortunately, it didn't pan out the way I had hoped.

The first dog race of the day saw the favourite come in from 3.30 to 2.30, yet I didn't get on it.I have become wary of these short priced dogs as all too often I have seen a huge amount of money come in immediately taking the odds out by 20 ticks or more. As this price came in, I was convinced that that was exactly what was going to happen, so I became increasingly reluctant to enter the market in case I got caught. Sod's law, it didn't and I had to move on to the next race having missed a glorious opportunity.

The second race of the day saw me much more prepared to enter the market and I got caught. Twice! On different dogs by the very thing I was trying to avoid in the first race. Typical. The moves weren't so dramatic as I've seen in the past, but collectively they accounted for nearly £13 down the drain. I spent the next 2 hours slowly nibbling my way back into profit.

I didn't do much trading in the afternoon, eventually stopping with just over £7 in profit. Not my best performance, but considering where I was right off the bat, I've got to be happy with that.

I didn't bother trying much in the evening when it was apparent that the markets were pretty dead due to the Champion League matches.

On a more serious note, many of you will be aware that Betfair started charging today. What's most disturbing about that is the fact that the £1000 so called 'allowance' seems to have been applied retrospectively despite assurances by Betfair that it would not.

This really is a gross breach of the contract between them and their customers. Clearly those effected by the charge have had to, as far as I am aware, agree to new term and conditions regarding the premium charge. But to apply that new agreement retrospectively is nothing short of outrageous. But then, nothing that firm does anymore should surprise us.

With the imminent release of Bet Angel for Betdaq, I hope there will be a significant shift to the purple exchange and let's hope Betfair get a bloody nose for the fiasco they have created. Having said that, it appears that Betfair aren't too bothered if the traders in particular move elsewhere. They certainly seem to be repositioning themselves as a traditional bookmaker rather than a sports exchange. It's a sad turn of events to see such an innovative company apparently turn their backs on the very ideals that made them great in the first place.


Anonymous said...

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Alistair said...

I am happy to encourage a move to Betdaq, though I would have thought it is self-evident to any successful trader.

I'm equally happy to mention your site, though I'm not sure why you need peoples' Betdaq nicks as requested on page http://www.purple-move.webpark.pl/the_solution.htm and I quote:

"All you have to do is email me your nick if you already have an account at Betdaq or open a new account in Betdaq using a link or banner from our website and wait until 21.10. 2008"

I'd advise my readers to join your list if they so wish, but not give out any details regarding their Betdaq account. Stating the obvious, I know, but it is still worth saying.

Also, from that quote, you appear to have an ulterior motive in requesting sign ups from the link on your site. This being the case, I'd urge my readers not to do so as I object to such requests made by commenters on my site - see my post about Door To Door Salesmen - even more so when it is made anonymously.

However, in this case, I've given you the benefit of the doubt and allowed your post due to the importance of the issue.

I won't be joining your list as I won't be moving completely due to the software issues I have discussed elsewhere in this blog. I already have an account at Betdaq which I use as much as I can. Certainly, if I'm ever hit by the premium charge then I'll be moving there completely. When or if that will happen, I do not know.