How can somebody offer 999-1 at Matchbook ?

[Doug]

<table class="mrTable" cellpadding="0" cellspacing="0"><tbody><tr><td class="mbCss-runner" valign="middle" width="105">Washington
</td><td><table cellpadding="0" cellspacing="0"><tbody><tr><td class="mbCss-mr-outcomes">to win</td><td><table cellpadding="0" cellspacing="0"><tbody><tr><td id="bro-483306-w-1" class="mbCss-odds-best">+99999</td><td id="brs-483306-w-1" class="mbCss-stake-best">$250</td></tr></tbody></table>

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</td><td width="3" align="center">
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</td></tr></tbody></table>23<table cellpadding="0" cellspacing="0"><tbody><tr><td class="mbCss-mr-outcomes">to lose</td><td><table cellpadding="0" cellspacing="0"><tbody><tr><td id="bro-483306-l-1" class="mbCss-odds-best">
</td><td id="brs-483306-l-1" class="mbCss-stake-best">
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[Doug]

Granted the bet won't lose, but that requires tying up 250k for months, to win $250

How the Hell does somebody do this ?

It almost seems like a house offer ?

 

[tatehill2000]

lets go in halvsies doug

tater

 

[$tinky]

credit?

 

[davidcng]

do you think exchange wagers its between players?... they have a bot for "house".... betfair do it same too.

 

[Doug]

credit?

that could be.

 

[Doug]

This kinda brings up the issue of "does MB offer credit ?"

I think Shrink said they do ?, but who gets credit there ?

Why not just have MB/WSEX make these offers themselves ? Credit to somebody else is just as risky, or is it ?

$tinky is right, I believe. This has to be credit... or a house offer.

nobody can tie up money for months to win .1%

 

[ZJP6050]

what's the bet?

 

[rumple]

what's the bet?

It must be the Nationals to win pennant or world series.

 

[SayHeyKid]

It has to be a house offer. As you pointed out Doug, obviously no one is posting up 250k to win $23, and anyone with a creditline in excess of 250k wouldn't be doing that to win $23.

 

[Doug]

what's the bet?

Wash W/S winner

I'm pretty sure MB claims to not seed the markets themselves, so credit seems the logical answer.

But who are they giving this kind of credit to ?

 

[$tinky]

good point thats still a lot of credit. Its all on the agent though. He can give out what he wants from what I understand. It would not surprise me if house makes offers as well. If it was my house i would.

 

[steaktartar]

good point thats still a lot of credit. Its all on the agent though. He can give out what he wants from what I understand. It would not surprise me if house makes offers as well. If it was my house i would.

they do.....and accept

 

[niltes]

imagine this scenario, a player or agent has a large
line of credit from an exchange. putting out offers
that have NO chance of winning costs nothing and can
be canceled at will if better opportunties arise in the
short run. if the offer gets accepted, it's free money;
if not, no harm, no foul, and no cost. if the offer gets
accepted and the credit line is compromised, the
player could ask and would probably get a credit line
increase either temporary or permanent.

now why would anyone accept this offer. suppose
one had a post-up account or an account where
credit liquidity was a problem. now imagine that
this player was astute enough to bet against the
washington nationals at some price in march.
let's say 100-1, but the number is irrelevant.
he's won the bet, but won't get paid until
late september. by buying back the nationals
at 999-1 he's getting paid now at a cost of
one tenth of 1% and freeing up liquidity for
other opportunities (not to mention removing
all the risk of washington winning). that's
why there is a market for offers like this,
not to win but to free up liquidity and remove risk.