TOPIC: Thoughts on Bookmakers

From owner-ausrace Thu Jun 6 15:31:22 1996
X-Sender: minnisj@ozemail.com.au (Unverified)
Subject: Bookies: Their Thoughts

Racing journalist Keith Hillier interviewed three of Melbourne's leading rails bookmakers on his morning radio show today. The bookies in question, Graeme Sampieri, Brian Mann and Geoff Donald discussed and answered various questions not only from Hillier but from listeners, as well, for nearly an hour.

Some of the insights disclosed by the bookies are worth sharing. Two of the three bookies admitted that they have other business interests with only Mann making his living solely from his bookmaking. Graeme Sampieri admitted that he is losing and will not be in the business for that much longer, while Geoff Donald believed that bookies, by and large, were offering over the odds for short priced horses to gain business in a depressed marketplace.

Brian Mann actually quoted a recent case in which the favourite, Mustang Rancg in race 2 at Moonee Valley on 12 May, opened in the betting at 7/4, got out to 5/2 (with 3/1 being available with some bookies) and came back in to 2/1. It won, most bookies got slaughtered because the belief that its 'true' price should have been 6/4 but they couldn't lay a decent bet on any of the other runners and let the price drift in the chase for punters money, it actually paid $2.30 on SuperTab (approx 5/4).

Geoff Donald also quoted the case of the recent win by Hareeba in Queensland on 26 May, in which it started at odds of 4/1, but with the 'best' odds being available in Melbourne being 13/4, and at the 'jump' 9/4 being the best available. Donald stated that even at those odds on offer, all the interstate bookies in Melbourne lost heavily, with them being unable to again lay any of the other horses, it paid $3.50 (5/2) on SuperTab.

The point was also made by all the bookies that their telephone bettors were just too smart with most of them being winners, with Mann admitting that other than for his regular clients, he discourages this form of bettor.

Again, it was stated that most bookies on track now only bet for the 'Win' simply because the 'eachway' and 'place' betting is destroying them, as one quoted, "It is now mathematically impossible for bookies to bet for the place in fields up to 12 runners if there is a short priced favourite".

Of particular interest was the answers to the question of what they considered to be the 'one' thing a punter should do to become a winning bettor. Sampieri stated that in his opinion punters need to use ratings, concentrate on the better class of races/horses, never bet under 2/1, betting on horses in the 3/1 to 5/1 price range on an eachway basis (he emphasised the eachway).

On the other hand, Geoff Donald stated that punters had to be on track (no other way), bet win, eachway or place only and don't be greedy. Finally, Brain Mann stated that to stick to the top jockeys only, because there is a definite edge following them, concentrating on races up 1600m only, no longer.

It was a very interesting hour, pity I didn't tape it, but was in my car at the time so all I was able to do was scribble down as much as I could. Regards ... Edward J. Back for more tips.