There are some things that are assumed when it comes to horse racing: you won’t be allowed to ride the horse; owners are always really rich; bookmakers won’t budge on their prices.
Whilst the reality is that you’re never going to get to ride a horse unless you happen to be a professional jockey that the trainer knows and someone has taken ill and owners tend to be either rich or part of a syndicate, there is definitely some room for manoeuvre with the bookies.
Ultimately, all bookmakers know that it is in their interest to get as much business as they can, which you can use to your advantage.
Imagine a scenario where you’re at a racecourse and you notice that one bookmaker is offering odds of 4/1 whilst another on the other side of the course has odds of 5/1. It isn’t a huge difference, but it is worth telling the lower odds bookie that someone else is offer more and asking them if they’ll match it.
They don’t want you wandering over to give money to a competitor, so the likelihood is that they’ll offer you the better odds. It is only a small thing, but if you’re wagering quite a lot of money then it can make a huge difference to your possible returns.
They Want Your Business
Bookmakers know that they are operating in a competitive industry. The result of that is that many of them will do what they can do to win your business. They want you spending your money with them, not with a competitor. As a result, there is always likely to be a big of wiggle room when it comes to the prices that they offer.
Whilst this is unlikely to work with online betting sites and will be tricky when it comes to betting shops on the high street, on-course bookies will be willing to work with you in order to ensure that you place your bets with them and not someone else.
Ultimately, bookmakers know that you’re going to be placing bets one way or another. They can either take your money or see someone else take it. That is the bottom line that they’re working with, which means that you can try to persuade them to be a little bit more generous with their odds.
If what they’re offering is the best on the course then you’re always going to struggle, but if someone else is under-cutting them, even by only a small amount, then they will be happy to shift their own odds to bring them in-line with the competitor, albeit it after a bit of huffing and puffing.
Don’t Be Stupid In What You Ask
One of the most important things that you need to remember when you’re trying to persuade a bookmaker to give you a better price is that you can’t take the Mickey. Bookies have a set margin that they need to hit in order to ensure that they make their money.
They will not go below that margin, given that that would put them in an all but impossible situation, so you need to be smart in terms of what you’re asking for. Whilst they will sometimes increase their margin when they’re able to, they will never decrease it to the point that they’re going to lose money on the bet.
The best way of getting a decent price out of a bookmaker is by gaining a rapport with them. If they’re having a laugh and a joke then they are more likely to move their odds around for you. The converse of this is if you’ve done something to annoy them, which is why it is really important that you are sensible in what you ask for.
If they’ve got a horse at 4/1 and you’re asking for 5/1, they might well be willing to match it or meet you half way. If you’re asking for 10/1 then they’re just going to laugh you off the course, annoyed and antagonised by what you’re trying to do.
What Can You Offer Them?
A big question that you might want to ask yourself when it comes to trying to get a better price from a bookmaker is what you can offer them. If you’re approaching them with £10 in your hand and asking them to move their odds for you in a single race, there is little-to-no incentive for them to do so.
If, on the other hand, you’re telling them that you’ll place all of your bets with them all day long if they promise you the best price on all of the races, they are more likely to find a way to make it work. If they sense that they’re getting something out of it from you, they’ll be much happier.
Again, they’re not going to be silly in terms of what they’ll offer you, but they will do what they can in order to ensure that you place all of your bets with them rather than one of their rivals. It is in their interests to maintain your custom, especially if you’re likely to be betting a fair amount of money.
The more money you’re hoping to stake, the more likely it is that they’ll look to offer you bespoke odds so that they can take your money rather than one of the other bookmakers on the course. Make it worth their while and they will try to work with you so you’re both happy.
At the end of the day, the bookmakers know that they are always going to win your money the longer that you bet with them. They understand their own exposure and how their margin works, so if they can find a way to win your custom whilst also ensuring their own profit then they will be happy to do so. All you as a punter can do is hope that your bet ends up being a winning one. More often than not, wondering which bookmaker to go to is just a matter of trying to decide who to give your money to, never to see it again. Make sure you get the best deal you possibly can.
Independent Shops Better Than Big Chains
Most of what we have talked about on this page is relating to on course bookmakers but you can also negotiate sometimes in betting shops too.
If you approach a big chain like Coral, William Hill or Betfred then this is less likely, mainly because the staff and shop managers don’t have much power to change the odds in their systems which are set centrally. If, however, you go to an independent or small chain you can negotiate prices sometimes – very much how it is like in other types of retail.
An independent will be setting their own odds and the manager will have more power to change those odds. Again the same rules apply, don’t be asking for silly things, but there is always room for negotiation. This is especially true if you are a regular customer.