By Mike Smithson
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Additional resources for The Political Punter: How to Make Money Betting on Politics
Example text
Usually there is a good range of political markets. 1_withindex:Punter 22/3/07 14:58 Page 29 CHOOSING THE RIGHT BETTING VEHICLE ❘ • Generally better prices are available than with traditional bookmakers. • You can get out of your position by betting in the opposite direction from your initial bet. • If you have been right about the direction of the market you can sometimes get all your stake money out and still have open bets remaining. • Betting usually continues right until a result is known – so bets can be taken on an election even while the count is taking place.
The art for them is to create a market that has odds that are attractive enough to bring the punters in but from which the bookmaker will still make his profit. Quite often with political betting, bargains can be had as soon as a new market is established. The bookmaker has had to make guesses as to what he thinks punters will be attracted to in order to get interest going – and his knowledge about the chances might not be as good as yours! Betting Exchanges – Betting Against Other Punters For many gamblers who have spent decades using traditional bookmakers the concept of a betting exchange is often quite hard to grasp.
50 The firm makes no deduction for deposits using debit cards issued by UK and Irish banks. Using credit cards for making bets online or with a telephone bookmaker has now been made more difficult because of the actions of some of the card companies. 1_withindex:Punter 22/3/07 14:59 Page 56 ❘T HE POLITICAL PUNTER in the US have imposed restrictions on their accounts being used for betting even if by a customer based outside the US with a bookmaker who is also located outside. The result, in some cases such as cards from Citibank is that you simply cannot use them.