Binary betting - FTSE / Dow

This is a discussion on Binary betting - FTSE / Dow within the Fixed Odds & Binary Betting forums, part of the Markets category; Guys, I've checked the binary bet site and registered. The problem you have here is they are always overround by ...

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Old Nov 1, 2003, 8:49pm   #15
Scripophilist's Avatar
Joined Jul 2003
Guys, I've checked the binary bet site and registered. The problem you have here is they are always overround by 5%.

You can't win in the long term, They are selling you a 100% probability at 95%. No matter how clever you are they are "Cheating" you!

Cheating you is the wrong word really but imagine the market price of a stock being 100p. You can buy it in the open market at that price but if you want you can go binary and buy it for 105p.

The only thing I can see these useful as are hedging mechanisms. But you will still "Pay" a 5% commision on each trade effectively.

These are good money earners for IG et al...

They can hedge quickly in the underlying market also.

I've found a way to make money from them, but it involves passing off the risk to somebody else and hedging in the open market.

Check out if you want to qualify my comments on binary bets.
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Old Nov 2, 2003, 2:47pm   #16
delboy trotter's Avatar
Joined Dec 2000
I would recommend that if you have found an edge or loophole in this type of betting, that you do not reveal it publicly on this board. I can tell you from previous experience that it is better to keep it to yourself or discuss it privately with a few people that you can trust. Bookmakers are very quick to close any avenue that is consistently non profitable for them. Over at Bookiebusters they have a private room where only invited members (trusted) are allowed access. Perhaps we could set one up here? Failing that I would recommend using PM's.


ps I think it was Probookie on this site who said that this type of betting had some opportunities to exploit.

Last edited by delboy trotter; Nov 2, 2003 at 11:50pm.
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Old Nov 2, 2003, 7:26pm   #17
Joined Nov 2003
delboy trotter

Thanks for the advice. Post has been deleted. I'll try out the system over the coming week and see if it delivers an edge.

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Old Nov 2, 2003, 11:01pm   #18
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Joined Oct 2001
Wideboy started this thread riwf, can you shed any light as to what you are working on?
Any views expressed are purely my opinion and and not a recommendation to trade
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Old Nov 3, 2003, 8:28am   #19
Joined Nov 2003

I'm trying an approach that doesn't use binary betting as a straight win/lose bet. If I have any success this week, I'll post a report on Friday. I posted a question about it yesterday - dbt suggested I keep it unpublic meantime.

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Old Nov 12, 2003, 11:57pm   #20
adrianallen99's Avatar
Joined Oct 2003
Anyone else had this.

had a binary bet on Wall street ending 0-20 pts down for the day.
Brought@15.4. I then pressed the sell button @ 46. I then got the confirmation saying I had sold £5 @ 36. Yet on screen it was still showing around the 46.

I phoned up about this and they chatted in the background for a few minutes. By the time they came back to the phone the price was @ 7 and they told me it was just because the markets were moving so quickly. If this was an index I could check the price for the moment I sold, but no way to check for binaries.

Does anyone know how the calculate the price for the binary bets anyway.
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Old Nov 13, 2003, 8:57am   #21
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Joined Dec 2001
There is a second or so delay between hitting the sell button and the order going through. I had a similar problem a few times. It is strange how the trade seems to go through at a worse price every time.
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