How do you Deal with Stake Kidnapping / Cancelled Bets?
- Cash
- Gaining experience
- Karma: -7
Post
How do you Deal with Stake Kidnapping / Cancelled Bets?
Hello Everyone. It seems to me that the biggest risk, other than being unaware of rule differentiations, is when bookies, for whatever reason, cancel your bet. How do you deal with this possibility? When you do an arb, do you constantly refresh your bet history to make sure the bet is still in play or what? It would be great to have some damage control ideas. Thank you very much.
- geetz
- Has experience
- Karma: 12
Post
Re: How do you Deal with Stake Kidnapping / Cancelled Bets?
Barely happens. Just try avoiding palps.
- Nameless
- Gaining experience
- Karma: 4
Post
Re: How do you Deal with Stake Kidnapping / Cancelled Bets?
this does happen from time to time. the best strategy I know is to cover the bet at another bookie to get out with a small loss, or you can just let it ride.
I'm not a gambler though, so I always look for the next best odds.
I'm not a gambler though, so I always look for the next best odds.
- Yngwie
- Pro
- Karma: 22
Post
Re: How do you Deal with Stake Kidnapping / Cancelled Bets?
Risks like stake Kidnapping/Cancelled Bets/Account Suspend/Bookie goes bankrupt (Gobetgo) exist in nature of this job. You should embrace the loss and look over the long haul.
Last edited by Yngwie on Wed Apr 08, 2015 8:30 pm, edited 1 time in total.
- Cash
- Gaining experience
- Karma: -7
Post
Re: How do you Deal with Stake Kidnapping / Cancelled Bets?
Yes, one must do that. But in order to see the big picture, I would have to get an idea of how often it happens. Does it happen 1% of the time? I'm hoping a lot less.Yngwie/Sawyer wrote: Risks like stake Kidnapping/Cancelled Bets/Account Suspend/Bookie goes bankrupt (Gobetgo) exist in nature of this job. You should embrace the loss and look over the long haul.
- avskum
- Gaining experience
- Karma: 2
Post
Re: How do you Deal with Stake Kidnapping / Cancelled Bets?
It depends a lot on how you bet. Avoid smaller bookies and even smaller leagues (books will not void a 1% arb on champions league for example), "to good to be true" arbs bigger than 5-7%, wrong home/away team. Be smart take care make money.Cash wrote:Yes, one must do that. But in order to see the big picture, I would have to get an idea of how often it happens. Does it happen 1% of the time? I'm hoping a lot less.Yngwie/Sawyer wrote: Risks like stake Kidnapping/Cancelled Bets/Account Suspend/Bookie goes bankrupt (Gobetgo) exist in nature of this job. You should embrace the loss and look over the long haul.
- swedplay
- Gaining experience
- Karma: 3
Post
I have had many losing bets being refunded on bet365.
But its very rare, less than 1%. I'd say 0,2%
Re: How do you Deal with Stake Kidnapping / Cancelled Bets?
It evens out in the long run. You see, half of the times the voided bet is on the losing side of the arb, and then you get the big win instead.Cash wrote: Hello Everyone. It seems to me that the biggest risk, other than being unaware of rule differentiations, is when bookies, for whatever reason, cancel your bet. How do you deal with this possibility? When you do an arb, do you constantly refresh your bet history to make sure the bet is still in play or what? It would be great to have some damage control ideas. Thank you very much.
I have had many losing bets being refunded on bet365.
But its very rare, less than 1%. I'd say 0,2%
Nearly all men can stand adversity, but if you want to test a man's character, give him power.
- Cash
- Gaining experience
- Karma: -7
Post
Re: How do you Deal with Stake Kidnapping / Cancelled Bets?
Thanks for the exact estimate. I won't hold you to it. If anywhere close to half of cancelled bets lose, that would be great. I always assume the worst to assess risk. I would like to ask why bet365 refunds your bets so often? Is it a certain type of bet or what?swedplay wrote:
It evens out in the long run. You see, half of the times the voided bet is on the losing side of the arb, and then you get the big win instead.
I have had many losing bets being refunded on bet365.
But its very rare, less than 1%. I'd say 0,2%