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why bother with the offshore sportsbooks ? You can make your own line up, and set your own odds on just about anything... check out www.play121.com
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This is an ides that hasn't taken off yet.......
When this industry, (as we know it now, with the internet and what not) first started, there was a shop that was going to be opened called wagernet out of Belize. I think the guys name was Kerry Rogers. He had some legal problems, which I guess contributed to the idea not flying, but the general concept was to match players aganst each other, and take 2.5% or so, to act like a broker.
There is also a shop called betex, which has been around for years, but again, never took off with Anerican sports.
I also know of a group that has software they are trying to market which is set up to do exactly what I'm referring to, but as of yet, they haven't had any luck getting the project off the ground.........
Personally, I think it's a good idea, and certainly a good deal for the players, but we'll see.......... -
This is a question I was going to ask.
I used to check www.betex.com several years ago. This is an interesting idea in my opinion. Does anybody have any experience with them?
What is good about the offers they have is variety. But odds in general used to be not so great. The reason is probably that a person posting an offer at betex.com acts as a bookmaker and uses almost the same odds as sports books do.
Jeff,
I have seen at least some NBA offers before.
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How do these companies make money? Do they keep a percentage of winnings? Is so, what is the hold? If the hold is significant, like 5%, I don't see any discerable advantage.Comment
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There were some NBA offers last year, however they were few and far in between.
These companies make money by charging a brokerage fee for matching up the players.
One of the problems of course, is that this type of operation still has to deal with the same costs as regular offshores do.......Comment
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Kerry is a great guy,he was the head guy at Carib.Comment
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I had a look a betfair, and I believe they take 5% on winnings
so a $100 winning bet at +100 = $100 profit - 5% = now is $95 profit
$100 winning bet at -200 =$50 - 5% = now $47.50 profit
If you lose, you pay no tax, (I think)
so the line on a NFL or NBA game would be
-105
-105
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It says in their rules that they take 10% from the winner. Seems to be even better than being a bookmaker. You don't have to worry about getting too much action on one side.
Best of Luck,
Groz
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i joined play121 today i got evens miami -3.5 i had the $20 they gave me free on it you should do the same maimi are a good thingOriginally posted by radical:
why bother with the offshore sportsbooks ? You can make your own line up, and set your own odds on just about anything... check out www.play121.comComment
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As Bet-Ex is being discussed, would just like to clear up some points.
Recently software was launched so that everything can be done live on the internet, plus the online minimums were dropped to $10 a bet / offer. Once you have installed the software, you get options for "making offers" or viewing the avilable offers. Right now, there are options for making offers on Pro & College Football, NBA, Tennis, Rugby, Soccer (including Asian Lines), NHL and so on. There are quite a lot of offers already up for the weekend.
The charge is 5% of the net win on any bet you make or offer that is accepted (ie a 2.5% deduction) which has huge benefits if you are betting a sport like tennis, for example. 105-100 for US sports.
Another advantage is that you gain access to an international audience without any associated costs/risks.
The people in the Bet-Ex office are helpful and will answer any enquiries: info@betex.com
Jan Lundberg is the general manager there.
Good Luck!
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Tip-Ex
Do you have any golf bettingComment
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OZ,
Forgot to mention golf, sorry. Yes, it is covered.
Also, the difference now is that the offers displayed on the website are different from those in the the interactive browser. Bet-Ex still trades at min $500 over the phone, and those are the offers you can view on the regular site.
Using the downloaded software, you are in a real-time intranet, and these are all completely separate bet options.
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Hi, can say that Bet-ex software is quite good, mostly good odds on the sports also, for example sombody at present offering cleveland +16 vs tennessee @+100 (1/1), however you are limited to what people offer (only $140 US on the aformentioned game) or if you are laying what people will take. So can be a problem if you want to bet a specific amount as you do not know until close to kickoff if your bets been accepted. Other sites include betfair.com, flutter.com and bet-ex.com those are the only I know of at present.
I think it is a good concept, and you can even set up your own scalping opps if you can get somebody to accept crazy odds! You can verify if the public really is as daft as everyone thinks!Comment
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Play121 would not let me sign up. Are they closed to Americans?Comment
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Tip-Ex, Bookiebar,
I would like to ask several questions on Bet-Ex.
I have just installed their software. It looks OK. But I don't like the odds.
Right now in tennis they have (best offers):
Seles - Dementieva 1.6 - 2.2
Hingis - Kournikova 1.17 - 4.5
To compare (DAS line):
Seles - Dementieva 1.6 - 2.3
Hingis - Kournikova 1.11 - 6.0
Taking into consideration that you have to pay those 5% at Bet-Ex, 3 positions out of 4 are better at DAS. And it is possible to find Hingis at at least 1.17 somewhere else.
This example (correct me if I am wrong) seems to be typical for me. Maybe it is a psychological thing, but people tend to offer the same odds they see at sports books.
Of course, nothing stops me from making a better offer myself. But why has nobody already done it? Maybe I am missing something.
Another thing is the number of offers available and the total amount of money involved don't look to me as Bet-Ex has 400 000 registered clients worldwide. What do you think about that?
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