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Monday, 14 February 2011

I wonder if he feels any better about it today?

Or should he be holding a horse?
Famous losing bet. This is an old post from 9th June 2007 but quite a strange story so a good read.

The betfair forum is an unforgiving place and there was not a lot of sympathy for the prohibitive odds-on, in-running big-hitter “Warwick Hunt” after he claimed to have laid of £150 at 1000 (999-1) about the 17-2 winner Metal Detector – that is risking £149,850 to win £150 - in the 8.40 at Towcester last night.

And, with a staggering £332 (£166 backed; £166 laid) matched at the Betfair ceiling 1000 price on the winner of the 3m handicap chase, many were inclined to believe he did in fact suffer the six-figure loss he was claiming.

While you can never second guess punters reasoning for backing at the price extremities on betting exchanges, the forum pointed the finger firmly in the direction of the commentator, who called the horse a faller at the first.

However, a £149,850-lighter Warwick was quick to start a thread entitled ‘yes it was me….and no blame to tommo”.

The much-maligned regular poster is renowned on the Betfair forum for backing in-running “sure things” at 1.01 (1-100) and laying “no-hopers” at 1000 – and letting his fellow forumites know in no uncertain terms afterwards by cutting and pasting his bets for all to see.

But as is always the case on betting exchanges - where this is a winner and a loser on every bet matched - two men’s in-running pain (there was another £16 layer at 1000) was others gain, as three Betfair backers scooped a small fortune as Metal Detector raced to an 18-length win.

One £138.96 Betfair backer netted an astonishing £138,821.04, and another £24,975 for just a £25 stake.

However, Betfair always gives punters the best price at the time of the bet placement, a process called best-price execution, and the story of the third winner was arguably even more heart-warming.

One Canadian punter asked to back $4 at 12 (11-1) about Metal Detector, but he certainly struck gold as his bet was matched at 1000. He ended up winning $3,996 when he would have been willing to settle for just a $48 return!!!