The short answer here is that bookies making money has nothing at all to do with your betting. It is almost unheard of for a single customer to be allowed to place enough bets to sink a single book all on his own. High rollers in sports betting get special privileges in terms of their maximum bet size, but these privileges often change with the bettor’s luck—maximums get raised after the bettor sees big losses and decreased (sharply) when the bettor starts to get lucky.
Finally, Benter sent an anonymous letter to the Jockey Club’s directors explaining his intentions. But the organization never shared it with the public. (Club spokeswoman Samantha Sui told Bloomberg Businessweek, “We are not in a position to disclose or comment on matters related to specific customers due to privacy and confidentiality concerns.”) At the time, head of betting Henry Chan told the Morning Post that there was no way of knowing who the ticket holder was. “Although this is bad luck for one winner,” he said, “it means there will be a lot of winners through the charities.”
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There are different football betting tip strategies with combination bets. There is one betting strategy to combine very low betting odds, but to keep the number high, in order to make good profit due to the multiplication of odds. Regarding football combination bets we rather recommend to choose a variation that will occur with high probability. Let's take the example of Borussia Dortmund versus FC Augsburg. The odds for BVB may be 1.50 and so is a pretty safe bet. As second combination bet you best choose a tip with respectable odds, but where the result is also pretty realistic like the match FC Schalke 04 against Hannover 96 for example. You can find such tips here in our betting tips today section. The odds for Schalke may be 1.85 and therefore still likely, but not as safe as the first tip. The combination of These two football betting tips makes odds of 2.78 which is significantly more attractive than a single bet on FC Schalke.
Afterward, Hong Kong’s tax authority began to investigate the Woods syndicate. By law, gambling winnings were exempt from taxation, but company profits weren’t. The question was whether the syndicates had moved beyond conventional betting and started behaving like corporations. The implications would be dire if the Inland Revenue Department decided to tax profits retroactively. When agents asked Woods for a list of his investors, he fled to the Philippines.
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Understanding sports betting odds is critical to becoming a successful sports bettor or even to give yourself a better chance at winning pick’em pools and other contests. How is the betting line set? Who sets it? Why do lines move during the week on the NFL odds list? So whether you are betting the point spread, futures or pucklines, learning about a sport’s odds should be one of your first focuses. And OddsShark is the place to research everything to do with sports odds and live lines. Click around and improve your chances of beating the point spread!
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Benter had achieved something without known precedent: a kind of horse-racing hedge fund, and a quantitative one at that, using probabilistic modeling to beat the market and deliver returns to investors. Probably the only other one of its kind was Woods’s operation, and Benter had written its code base. Their returns kept growing. Woods made $10 million in the 1994-95 season and bought a Rolls-Royce that he never drove. Benter purchased a stake in a French vineyard. It was impossible to keep their success secret, and they both attracted employees and hangers-on, some of whom switched back and forth between the Benter and Woods teams. One was Bob Moore, a manic New Zealander whose passions were cocaine and video analysis. He’d watch footage of past races to identify horses that should have won but were bumped or blocked and prevented from doing so. It worked as a kind of bad-luck adjuster and made the algorithms more effective.
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Other additions, such as the number of rest days since a horse’s last race, were more successful, and in his first year after returning to Hong Kong, Benter won (as he recalls) $600,000. The next racing season, ending in the summer of 1990, he lost a little but was still up overall. He hired an employee, Coladonato, who would stay with him for years, and a rotating cast of consultants: independent gamblers, journalists, analysts, coders, mathematicians. When the volume of bets rose, he recruited English-speaking Filipinos from the ranks of the city’s housekeepers to relay his bets to the Jockey Club’s Telebet phone lines, reading wagers at the rate of eight a minute.
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Throughout 1997 a shadow loomed over Hong Kong. After 156 years of colonial rule, the British were set to hand the territory back to China on July 1. There were news reports of Chinese troops massed at the border, and many islanders feared it would be the end of Hong Kong’s freewheeling capitalism. China tried to reassure residents that their most treasured customs would be protected. “Horse racing will continue, and the dancing parties will go on,” said Deng Xiaoping, the former Communist Party leader.
Finally, Benter sent an anonymous letter to the Jockey Club’s directors explaining his intentions. But the organization never shared it with the public. (Club spokeswoman Samantha Sui told Bloomberg Businessweek, “We are not in a position to disclose or comment on matters related to specific customers due to privacy and confidentiality concerns.”) At the time, head of betting Henry Chan told the Morning Post that there was no way of knowing who the ticket holder was. “Although this is bad luck for one winner,” he said, “it means there will be a lot of winners through the charities.”
Hong Kong racing uses a parimutuel (also known as “totalizer”) system. Unlike odds in a Vegas sportsbook, which are set in advance and give a decisive edge to the house, parimutuel odds are updated fluidly, in proportion to how bettors wager. Winners split the pool, and the house skims a commission of about 17 percent. (After costs, the Jockey Club’s take goes to charity and the state, providing as much as a tenth of Hong Kong’s tax revenue.) To make money, Benter would have to do more than pick winners: He needed to make bets with a profit margin greater than the club’s 17 percent cut.
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Veteran gamblers know you can’t beat the horses. There are too many variables and too many possible outcomes. Front-runners break a leg. Jockeys fall. Champion thoroughbreds decide, for no apparent reason, that they’re simply not in the mood. The American sportswriter Roger Kahn once called the sport “animated roulette.” Play for long enough, and failure isn’t just likely but inevitable—so the wisdom goes. “If you bet on horses, you will lose,” says Warwick Bartlett, who runs Global Betting & Gaming Consultants and has spent years studying the industry.
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You’re somebody who obviously doesnt have much time for bookies (and rightly so imo) and the tactics they employ to restrict accounts, my question is what do you think about Pinnacle who say the take all bets and dont restrict accounts like other bookies, and they seem to have the best prices on offer by traditional bookies I ask because i’m getting close to paying premium charges and the stakes I use it just wouldnt be viable once PC kicks in.
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Benter’s Las Vegas friends wouldn’t stake him at horse racing, but they would at blackjack. He took their money to Atlantic City and spent two years managing a team of card counters, brooding, and working on the racing model in his spare time. In September 1988, having amassed a few hundred thousand dollars, he returned to Hong Kong. Sure enough, Woods was still there. The Australian had hired programmers and mathematicians to develop Benter’s code and was making money. He’d moved into a penthouse flat with a spectacular view. Benter refused to speak to him.

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It does not come more perfect than 60-year-old fertilizer salesman Fred Craggs from Yorkshire, UK who won £1 million from a small 50p bet. Craggs placed an 8-fold accumulator with William Hill and his selections came from horse race meets scheduled across the globe. Bizarrely, Craggs was not even aware he had become a millionaire until he visited the same bookmaker to place another bet.
At the same time, as reported by BBC Radio Five Live last month, bookmakers are actually closing down the accounts of clients who win big and often. This might explain the exponential increase in the number of online tipsters. If successful gamblers can no longer bet as normal, they can at least profit from selling on their “expertise”, or even set up as bookmakers themselves.
Finally, Benter sent an anonymous letter to the Jockey Club’s directors explaining his intentions. But the organization never shared it with the public. (Club spokeswoman Samantha Sui told Bloomberg Businessweek, “We are not in a position to disclose or comment on matters related to specific customers due to privacy and confidentiality concerns.”) At the time, head of betting Henry Chan told the Morning Post that there was no way of knowing who the ticket holder was. “Although this is bad luck for one winner,” he said, “it means there will be a lot of winners through the charities.”
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Benter’s model required his undivided attention. It monitored only about 20 inputs—just a fraction of the infinite factors that influence a horse’s performance, from wind speed to what it ate for breakfast. In pursuit of mathematical perfection, he became convinced that horses raced differently according to temperature, and when he learned that British meteorologists kept an archive of Hong Kong weather data in southwest England, he traveled there by plane and rail. A bemused archivist led him to a dusty library basement, where Benter copied years of figures into his notebook. When he got back to Hong Kong, he entered the data into his computers—and found it had no effect whatsoever on race outcomes. Such was the scientific process.
Horse racing is an equestrian performance sport, typically involving two or more horses ridden by jockeys (or sometimes driven without riders) over a set distance for competition. It is one of the most ancient of all sports, as its basic premise – to identify which of two or more horses is the fastest over a set course or distance – has been unchanged since at least classical antiquity.[1]
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