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Richard Colbey
Saturday June 17, 2000
Bookmakers boast that £100m will be staked on Euro 2000, by far the largest sum ever on a sporting event. While publicity hunger, rather than accuracy, prompts the size of this claim, it is certain that the tournament provides more chances for punters to add to bookies' profits than ever before.
Walking into a betting shop is still the most popular way to bet, and there will be no shortage of people putting their fivers on an England win. That somewhat unlikely outcome was originally being offered at 9/1 by Corals and only rose to 12/1 after the defeat by Portugal.
In fact, the 9% deduction bookies make from winnings, partly for betting levy but also as a crude device to bump up profits, means that the odds expressed as 9/1 are really 8/1. This price is influenced by sentiment as much as a realistic appraisal of England's chances.
The bias towards England should, in theory, be less prevalent on internet betting sites where there is a more internationally based clientele. Coral's internet arm, Eurobet, cut the pre-tournament price on Slovenia from 150/1 to 50/1 after a large number of bets were placed by punters in that country.
So far, though, even cyber-gamblers can't hope to get much better than 14/1 on England. Unsentimental punters could do worse than to put a few bob on Portugal, who, despite their obvious superiority and better prospects, are now being of fered at around the same price as England: 11/1 with Hills.
Account betting, by phone and internet, is gradually taking over from the traditional betting shop. Much the same odds are offered to those who trade this way, though some offer reduced "tax". Most, like Victor Chandler's Gibraltar operation, are set up so the company escapes tax altogether, leaving punters who find themselves facing any deduction with a justified grievance. Many companies are currently offering new accounts free bets. Among the most generous is the Tote's (0800-825-825) £20.
Spread betting is a better bet - literally - for punters. The range of markets, including bookings, time of goals, corners and even streakers, is much greater and profit margins lower. The spread firms don't attempt to pass taxes - real or invented - on to clients. Spreadex (08000-526575), the newest firm, offers one of the best ranges of markets. Among the most in triguing is the number of converted shoot-out penalties. While the 37 in the 1996 tournament may have been freakishly high, its quote of 15-17 looks a little on the low side. Buying at £5 per penalty at 17 would yield a £100 profit if the 1996 figure were repeated, with an £85 loss if there were no shoot-outs.
Punters determined to back England might find Spreadex's spread on the goals they score, 5.1-5.7, reasonable value.
Those who want to try spread betting might do well to contact Sporting Index (08000-96-96-45). It has a wide range of prices, including 54-56 on the number of times a stretcher comes on the pitch, and offers a free £200 bet on supremacy in any Euro 2000 game to those who opens an account in June.
However, for all the innovative markets and special offers, the message from the founders of new website playfair.com, launched with a great fanfare last week, is that bookies can be cut out altogether. Playfair members will be able to lay their own bets at any price on any event they choose.
Some might offer 20/1 on England winning Euro 96. For 5% of the winnings, Playfair will publicise the bet and hold the stake and even act as arbitrators.
Indeed, members will be able to bet on events such as the Queen Mother's birthday parade having to be cancelled, or Jonathan Aitken returning to gaol by the end of the year, which conventional bookmakers might regarded as being in rather too poor taste.
Saturday June 17, 2000
Bookmakers boast that £100m will be staked on Euro 2000, by far the largest sum ever on a sporting event. While publicity hunger, rather than accuracy, prompts the size of this claim, it is certain that the tournament provides more chances for punters to add to bookies' profits than ever before.
Walking into a betting shop is still the most popular way to bet, and there will be no shortage of people putting their fivers on an England win. That somewhat unlikely outcome was originally being offered at 9/1 by Corals and only rose to 12/1 after the defeat by Portugal.
In fact, the 9% deduction bookies make from winnings, partly for betting levy but also as a crude device to bump up profits, means that the odds expressed as 9/1 are really 8/1. This price is influenced by sentiment as much as a realistic appraisal of England's chances.
The bias towards England should, in theory, be less prevalent on internet betting sites where there is a more internationally based clientele. Coral's internet arm, Eurobet, cut the pre-tournament price on Slovenia from 150/1 to 50/1 after a large number of bets were placed by punters in that country.
So far, though, even cyber-gamblers can't hope to get much better than 14/1 on England. Unsentimental punters could do worse than to put a few bob on Portugal, who, despite their obvious superiority and better prospects, are now being of fered at around the same price as England: 11/1 with Hills.
Account betting, by phone and internet, is gradually taking over from the traditional betting shop. Much the same odds are offered to those who trade this way, though some offer reduced "tax". Most, like Victor Chandler's Gibraltar operation, are set up so the company escapes tax altogether, leaving punters who find themselves facing any deduction with a justified grievance. Many companies are currently offering new accounts free bets. Among the most generous is the Tote's (0800-825-825) £20.
Spread betting is a better bet - literally - for punters. The range of markets, including bookings, time of goals, corners and even streakers, is much greater and profit margins lower. The spread firms don't attempt to pass taxes - real or invented - on to clients. Spreadex (08000-526575), the newest firm, offers one of the best ranges of markets. Among the most in triguing is the number of converted shoot-out penalties. While the 37 in the 1996 tournament may have been freakishly high, its quote of 15-17 looks a little on the low side. Buying at £5 per penalty at 17 would yield a £100 profit if the 1996 figure were repeated, with an £85 loss if there were no shoot-outs.
Punters determined to back England might find Spreadex's spread on the goals they score, 5.1-5.7, reasonable value.
Those who want to try spread betting might do well to contact Sporting Index (08000-96-96-45). It has a wide range of prices, including 54-56 on the number of times a stretcher comes on the pitch, and offers a free £200 bet on supremacy in any Euro 2000 game to those who opens an account in June.
However, for all the innovative markets and special offers, the message from the founders of new website playfair.com, launched with a great fanfare last week, is that bookies can be cut out altogether. Playfair members will be able to lay their own bets at any price on any event they choose.
Some might offer 20/1 on England winning Euro 96. For 5% of the winnings, Playfair will publicise the bet and hold the stake and even act as arbitrators.
Indeed, members will be able to bet on events such as the Queen Mother's birthday parade having to be cancelled, or Jonathan Aitken returning to gaol by the end of the year, which conventional bookmakers might regarded as being in rather too poor taste.