That's what one bookmaker said as Great Yarmouth racecourse. Plenty of people said: 'Buying money!' It has to be betting odds on. My uncle was the classic favourites man but I'm sure even he drew the line at levels you devils. But how should we consider betting odds on or is it a great idea or the worst idea a gambler could ever take?
As with all aspects of gambling, there isn't a simple answer or one size fits all.
I'm sure you know a few gamblers who love to bet odds against. For most mere mortals there is little point betting £50 to win £20. So should we leave it to the big gamblers. Harry Findlay made a gambling career out of betting odds on. He was convinced the 1/4f should have been 1/10f. If so, then he had the value to make a profit. Considering at times he had millions of pounds in his Betfair accounts, he may have been onto something. I always branded him a big mouth but I did warm to him after reading his publication: Gambling for Life, written by Neil Harman. Findlay has done it all: won and lost. So it is interesting to consider the words of the odds on backer. Clearly, he didn't dedicate himself to this alone and would bet on two flies crawling up a wall if he noticed one had a leg missing. The edge was eroded to the point the odds on shots didn't feature any value at all.
As Dave Nevison said: 'No easy money!'
Clearly each odds on favourite should be assessed on its own merits. You can make money and you lose money.
I knew a couple of school friends who thought being a professional gambler was simply betting odds meant you just collected your winnings. That easy £500 to win £200. As you can imagine, it didn't last very long and they soon lost their cash. Betting odds on or against is related to skill and finding value. If you don't you will lose.
Personally, I don't bet odds on. In the past I have done (only to small money) and I soon gave it up as a bad job. Within my niche of two-year-old horse racing, I feel confident I could pick between the lines but when you consider you need a 50% strike rate to be level betting a even money let alone odds on you have to question where is the profit coming from and how much cash will you be betting.
For me, it's about making a decision. Do you wish to bet odds on or not. For me it's a no bet. I feel I can find better value at bigger odds and although I respect an odds on opponent I don't fear them. Let them prove the point and win, if good enough. Often they aren't and the odds of those in opposition are turned into value.
Fearing an odds on horse can be a mistake especially if it means you don't bet against them. Often you hear punters say those exact words and they feel annoyed when the odds on fails and the selection wins at big odds. If you have no interest in betting odds on do not let it put you off betting on a fancy.
I've seen it happen so many times and to myself.
Odds on shot can be the best and worst bets.
Just like any.
But the decision is yours.
Interesting read. Certainly much rather bet with value than shorter odds although any bet can be a good one when it wins.
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