Royal Ascot - 2023

[Archangel]

I love the way Frankie is so cheeky towards all the stiffness and pomposity of the proceedings

[Euler]

General turnover at post time at Ascot this week is tracking -18% YoY on Betfair and similar on Betdaq.

[megarain]

Betfair turnover will continue to decrease now other exchanges are gaining traction. I don’t see Betfair ever
returning to the dominance it once had, and could easily see
it being irrelevant within a few years.

Business on/course today was as good as have seen for the first 3/4 races, but did tail off as a lot of bookie friendly results ironed the punters out.

We took a 100 or so more bets to hold £21k, slightly down in
money from day 1, but managed to go home with more of
It (7k).

Some of the money on-course is staggering. In the first, some
chap had £250 ew a 16/1 chance, £200 ew a 20/1 chance and £100 rev forecast (I quoted 300/1), which I agree is a poor price.

If any had connected, it’s a £35k cash payout - u do need a v large float.

The king got an above average cheer today and there was genuine delight amounts the crowd when his horse won - so
maybe the monarchy has a future.

Hot today - downhill from here.

[jamesedwards]

Betfair turnover will continue to decrease now other exchanges are gaining traction. I don’t see Betfair ever
returning to the dominance it once had, and could easily see
it being irrelevant within a few years.

Business on/course today was as good as have seen for the first 3/4 races, but did tail off as a lot of bookie friendly results ironed the punters out.

We took a 100 or so more bets to hold £21k, slightly down in
money from day 1, but managed to go home with more of
It (7k).

Some of the money on-course is staggering. In the first, some
chap had £250 ew a 16/1 chance, £200 ew a 20/1 chance and £100 rev forecast (I quoted 300/1), which I agree is a poor price.

If any had connected, it’s a £35k cash payout - u do need a v large float.

The king got an above average cheer today and there was genuine delight amounts the crowd when his horse won - so
maybe the monarchy has a future.

Hot today - downhill from here.

Thanks again for the insight. Fascinating.

This is probably a stupid question, but why don't on-course bookies just take any bet and immediately hedge it all at better odds on the Exchanges?

[megarain]

Some will hedge. Some will hedge some. A few never hedge.

I am trying to be in the latter camp, but it’s mentally tough
to potentially have a week wiped out in a bad race.

There are limits to the depth on exchanges. Maybe u can get
a few K on without moving the price, but recently I have been
hedging a large SP punter (to reduce the SP), and some of
the markets are v weak.

After I have taken the value prices, going deeper into the ladder is largely -EV, so, it’s something skilled long-term
bookies will avoid.

/:

Before racing, was invited into a champagne box (£40 high st, £120 Ascot) and spoke to an ex on-course bookie who now
has 25,000 internet clients - and paid for the drinks.

That’s where the real future is.

[jamesedwards]

Some will hedge. Some will hedge some. A few never hedge.

I am trying to be in the matter camp, but it’s mentally tough
to potentially have a week wiped out in a bad race.

There are limits to the depth on exchanges. Maybe u can get
a few K on without moving the price, but recently I have been
hedging a large SP punter (to reduce the SP), and some of
the markets are v weak.

After I have taken the value prices, going deeper into the ladder is largely -EV, so, it’s something skilled long-term
bookies will avoid.

/:

Before racing, was invited into a champagne box (£40 high st, £120 Ascot) and spoke to an ex on-course bookie who now
has 25,000 internet clients - and paid for the drinks.

That’s where the real future is.

Thanks for the info. I wonder how (presumably) private bookies with 'clients' rather than customers will be affected by the incoming gambling white paper?

[sionascaig]

That’s where the real future is.

Thanks Megarain - enjoying your posts & looking forward to your book coming out )

[Black Ice]

+1 Yes...very interesting stuff!

[Archangel]

Before racing, was invited into a champagne box (£40 high st, £120 Ascot) and spoke to an ex on-course bookie who now
has 25,000 internet clients - and paid for the drinks.

That’s where the real future is.

This internet thing sounds interesting

[Archangel]

I remember speaking to an on course Bookmaker who used to work the Tatts ring at Cheltenham back in the day. Stories about suitcases and even bin bags with 100k cash in them ! Legends like Victor Chandler and Barney Curley. I suppose we wont see those days again

[gstar1975]

Royal winner and now Dettori gets the Gold Cup. Trying to think of what should happen next?

Francesca Cumani strip tease to close ITV's coverage after the last race be good

I'm still waiting for the media to start reporting the drunkedness, coinciding with the start of Glastonbury.

[megarain]

There is zero chance of drunks allowed in the Royal enclosure,
there are just too many bowlers hats/police.

Security isn’t as tight as previous years. (No sniffer dogs).

I would take 1/3 I could get a gun to the winning line if I
wanted to.

[Euler]

The markets can be so predictable sometimes!

[Dallas]

Hoping today is going to be a repeat of yesterday

[Euler]

Cruising along today. I think Saturday will be a challenge.