Skip to main content

it's always worth laying 1.01

You'd think bookmakers would know this by now....

The Reserve Bank of Australia was expected by everyone to lift interest rates by 0.25% overnight, making it four increases in a row. Centrebet decided not to offer the market, it was such a 'certainty'.

Rate rise a guaranteed certainty

Centrebet's Neil Evans says it is the first time the agency has not taken bets on an interest rate decision.

"The betting market would have looked horribly lopsided, where the 25 point rise would have been massively odds-on favourite and 50 [basis point rise] the only other possible outcome," he said.

"So we decided it was just a very lopsided and uncompetitive betting market, where the chance of rates staying on hold were effectively close to zero."

"We don't like putting up markets where you've got two massively odds-on options and then of course everything else is effectively a million-to-one.


Not sure how you get two massively odds-on options in a one result market, not sure if that's the journo's fault or the media bloke Centrebet employ not understanding what he's talking about.

And what actually happened was...

Australian Reserve Bank holds interest rates steady

In a surprise announcement, the Australian Reserve Bank has left official interest rates on hold at 3.75%.

Betting agency Centrebet had refused to open a book on the rates decision because it thought the outcome was too certain, the ABC reports.


Golden opportunity to take wads of cash off the money-buyers down the drain....

Comments

Popular posts from this blog

lay the field - my favourite racing strategy

Dabbling with laying the field in-running at various prices today, not just one price, but several in the same race. Got several matched in the previous race at Brighton, then this race came along at Nottingham. Such a long straight at Nottingham makes punters often over-react and think the finish line is closer than it actually is. As you can see by the number of bets matched, there was plenty of volatility in this in-play market. It's rare you'll get a complete wipe-out with one horse getting matched at all levels, but it can happen, so don't give yourself too much risk...

Henry VIII Novices’ Chase

It's not just about the Tingle Creek tomorrow at Sandown, there's a Grade 1 Novice Chase amongst the rather decent supporting card. Lining up for the preview is astute NH enthusiast Sam Tribe, @samtribe87.

---------------------

Racing Post Henry VIII Novices’ Chase
Grade 1 Chase, 2 Miles
Sandown 13:50
Likely going Soft, Good to Soft in places


With doubts concerning the fitness of last year’s Queen Mother Chase winner Sire De Grugy and of the two mile chase king Sprinter Sacre (despite bullish remarks from Henderson) there is a chance for another to step into the limelight. Both have won the feature race of the day, The Tingle Creek Chase and that will more than likely throw a few into the hat. However, I have chosen to take a look at the Henry VIII chase, which was changed to a grade 1 in 2011 and has been won by some nice prospects in the past (Somersby and Al Ferof to name but a few). Let’s hope that a potential Champion Chase contender of the future will feature in this …

Kentucky Derby preview

It's America's big day of racing, where 90% of them will be there to be seen and most won't have a clue what difference Churchill Downs Inc's latest takeout hike does to shaft them on every bet placed. Throw in the standard arguments about race-day medication in the US and the recent New York Times/PETA expose on yesterday's Oaks-winning trainer Steve Asmussen, and racing in North America could be in better health.

Still, it's one of the elite races and great occasions of the world, and stepping up to the plate is Jon da Silva again, @creamontop, with his preview in a very American style. (No I don't understand Brisnet figures either...)

------------------------------

The Kentucky Derby Presented by Yum Brands

They say you should avoid food additive E-numbers which you can’t with Yum Brands…

Yum! Brands, Inc. or Yum! is a United States-based Fortune 500 corporation. Yum! operates or licenses Taco Bell, KFC, Pizza Hut, and WingStreet restaurants worldwid…