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Jay28

Greyhounds – Don’t trade past post time!

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Hi Guys,

I’m a bit peed off today with myself and with Betfair over last night’s little fiasco. So I thought I’d write this post to hopefully save someone else on here of from falling foul of the same thing.

So within my trading portfolio I trade Greyhounds, TBF I don’t make fortunes out of it but it’s well worth it to me, as it allows me to make a small profit but more importantly it enables me to get much more screen time outside of my working hours than I would do otherwise.

One lesson I learnt a long time ago with Greyhounds is NEVER EVER trade past post time!

So last night I broke that rule and I got punished for it!

To set the scene, most races were running very late last night, ranging from 1 to 6 mins late on average which made most of the liquidity “the sweet spot for trading time” just past post time. The wise thing to do, would off been to of switch the computer off and watched whatever crap was on TV…. but I wasn’t wise, I was stupid, I wanted to trade and decided to judge the start time with video – Bad Move!!!

So all went well for a few races, then it got to the 20:13 at Sheffield, I was in the green by £4.50 and I had the Betfair video open (through the TGT Betfair live window). The dogs are still parading…… To me meant, I had to have at least one to two minutes left by the time they get the dogs to the traps, they are all loaded and the market closes, would you agree?

The market on a Greyhound called “Tromora Lock” was swinging rapidly up and down between 4.2 to 4.5, so I put a speculative £20 lay in 4.0 and it gets match with a small spike and bounces straight back out- Bonus??? No disaster, because then market closes – I’m like WTF – the greyhounds are still on display???? I quickly flick the TV on to RPGTV on Sky TV and guess what????? The dogs are in the traps and Betfair were showing the wrong damn video!

Now if I get caught in play on greyhounds, it ridiculously comical, I always lose no matter what I do and I never ever get away with it… This of course was no difference, so that was £50 down the toilet, as “Tromora Lock” romps home an easy winner!.

I must say that this isn’t my first, second or even the third time I’ve been caught out by sometime stupid like this and I should know better by now!!!…… My most memorable time, was when I lost £200 because I was trading a greyhound race that went off about a 2 minutes late….. I wasn’t even caught in play that time and was out greened up with a nice profit well over a minute before the race even started (roughly hedged about 20 seconds past the official post time)….On that occasion, Betfair forgot to close the market and you could literally still bet on the winner after the race had finished!!! To fix the problem, rather than voiding the whole race, they decided to void all bets made after the official post time, which voided my closing position and left me with an open lay bet on the winner! (after complaining, i did get a £10 free sport book bet – Wow thanks Betfair!)

Anyway, I was stupid last night for trading past post time, which breaks my greyhound trading rules. The moral of the story is…. don’t break your rules and if you can’t stick to them for whatever reason, there is always tomorrow!

FYI….. I’m sharing this to try to save others from getting caught out like me.  If anyone else is starting to trade greyhounds. I’ve seen so many things like this happen before, markets closing unexpectedly, not closing, Betfair showing the wrong video. So it is really not worth trading past post time, if races are running late and liquidity is too late….. Come back tomorrow! – I wish I had followed my own advice yesterday – Such a fool!

I hope you are all enjoying Cheltenham.

All the best,

J.

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> Join our real-time trading chat on WowApp
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Hi Jay

Sorry to hear about this.

If you use Bet Angel, you can use some automation to hedge your position for a win or loss 5 seconds before the off.

Chris

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Thanks for sharing this cautionary tale @Jay28. I play it safe and never open a position in greyhounds with under 20 secs remaining and I always close before Betfair's official post time. It means I miss opportunities but after several months trading the hounds having started as a complete novice I've managed to avoid getting caught in play so far though of course I've luckily escaped a few times by a whisker. 

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Cheers Guys

I actually got caught in play again last night due to a greyhound race closing 25 seconds early..... I'm sure why it did as the race started just past post time.

Luckily, I got away with it this time...... but you really do have to be so careful with Greyhounds!  

 

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2 hours ago, Jay28 said:

Cheers Guys

I actually got caught in play again last night due to a greyhound race closing 25 seconds early..... I'm sure why it did as the race started just past post time.

Luckily, I got away with it this time...... but you really do have to be so careful with Greyhounds!  

Theoretically, you should be +/- break even in the long term. Sometimes you win, sometimes you lose. It just happens on greyhounds but those early suspensions should not happen at all. I don't understand why Betfair could not sort this out yet, it's happening over and over again, for the past 15 years or so.


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Be very careful with greyhounds at the moment - 16th March. I've noticed with the last couple of days some races are being suspended very early up to 40-50 secs before the official time for no apparent reason. I haven't seen this happen regularly for a long time so I'm guessing someone may be out sick, a new guy is being trained and he's very trigger happy. 

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On 3/14/2020 at 10:12 PM, Tomas said:

Theoretically, you should be +/- break even in the long term. Sometimes you win, sometimes you lose. It just happens on greyhounds but those early suspensions should not happen at all. I don't understand why Betfair could not sort this out yet, it's happening over and over again, for the past 15 years or so.

Hi Tomas

You would like to think so wouldn't you and I would normally agree with you...... However, my luck (or Variance) has been totally been really against me over the last six months, I could lay a 3 legged Basset Hound by accident and it would win by 20 lengths! 

I don't understand it either..... surely it can't be that hard!

22 hours ago, zitlor said:

Be very careful with greyhounds at the moment - 16th March. I've noticed with the last couple of days some races are being suspended very early up to 40-50 secs before the official time for no apparent reason. I haven't seen this happen regularly for a long time so I'm guessing someone may be out sick, a new guy is being trained and he's very trigger happy. 

Yes I have noticed this too, it's a shame as I just don't feel confident in the greyhound markets to get involved anymore. I can't be the only person thinks this either, so Betfair must be losing money because of it...... But TBH I don't think they care anymore, now they are a big household name, I think they are more interested in the much larger profits their sports book can offer them over the exchange.

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On 3/11/2020 at 2:44 PM, Jay28 said:

Betfair were showing the wrong damn video!

I found these links on another forum a while back. Props to whoever that guy was...

https://news.williamhill.com/broadcast/

https://open.http.mp.streamamg.com/html5/html5lib/v2.55/mwEmbedFrame.php/p/3001331/uiconf_id/30026653/entry_id/0_tklzcakd?wid=_3001331&iframeembed=true&playerId=kaltura_player_1553788066&entry_id=0_tklzcakd&flashvars[streamerType]=auto

Both are the same feed, but the second is fullscreen. I use these for watching the dogs, rather than BF live video

1 hour ago, Jay28 said:

I could lay a 3 legged Basset Hound by accident and it would win by 20 lengths! 

You and me both!!! I'm slowly getting the hang of greyhound trading though. With no horse racing for the next month or so, I'll get a lot of practice!

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Cheers Jay, I've added your link to my bookmarks.

Apologies - I've just noticed that the first link I gave now requires you to login. It used to be free to view without logging in or placing a bet

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