Why?

[Leapyfrog]

See the screenshot below.
[attachimg=1]

Why would any one place backing bets at 1.01? What could be the strategy behind it. Is there any means the odds will ever reach 1.01 before the race actually starts? I thought all unmatched bets will be cleared out when the race starts - Is it not the case. I know there are lots of questions, but the simple question that i am tryign to get an answer is why would anyone place bets on 1.01 and keep it there before the race actually starts? What could be the strategy behind it. Any help is much appreciated.

[esoito]

I'm just guessing but it could be that they're hoping to collect during in-running.

Or it's something to do with what's loosely called 'fishing for odds'.

Hopefully others more knowledgeable than I will step in with a correct answer!

[Leapyfrog]

I'm just guessing but it could be that they're hoping to collect during in-running.

Or it's something to do with what's loosely called 'fishing for odds'.

Hopefully others more knowledgeable than I will step in with a correct answer!

Thanks Esoito. Betfair clears all unmatched bets before the game goes in-running. So am not sure whether its for in-running. Hoping someone will know about this.

[muggins]

I'm just guessing but it could be that they're hoping to collect during in-running.

Or it's something to do with what's loosely called 'fishing for odds'.

Hopefully others more knowledgeable than I will step in with a correct answer!

Esoito pretty much hit it on the head, it is for in-running.  Betfair works on a first in first served basis, so if you are trying to lay or back at a certain price and someone is ahead of you your bet may not get on if there are not enough takers, but the bet in front of you at the same price could.  If you want to do the 1.01 bets you have to get in the early queue. 1.01s do lose more often than you think.  Especially in the jumps.

[Leapyfrog]

Ok. Am confused now.

What is in-running.  Is it same as in-play bets?
If it's same I read that bet fair makes all unmatched bets cancelled before the race goes in play.  If that's the case then there's no advantage right?

[peleus]

Same here. I kept on searching about in-running details but I'm not able to find one article online that explains this. Maybe this is a new one?

[muggins]

With Betfair you can bet on a race at any point from before the race start right up to the finish.  In-running betting is while the race is acually happening.

[Maxwell]

I thought betfair was closed down?

What's the name of the one that was shut down?

[peleus]

Which one was shut down please?