Let's be fair to the Corporates, putting prices up on Wednesday for Saturdays races is a relatively new phenomenon, it is fraught with danger for Bookies even though they go up with high percentages for insurance,
There are some very smart and very big punters out there looking for mistakes and remember Punters might only have one or 2 bets, it is completely at the punters discretion whether he will accept a price offered.....
While of course I don't like being restricted I do understand where they are coming from, they are a business, if a shop has a line of products that isn't profitable they will usually discontinue it.....that is how business works
After 9am on race morning that is when the minimum bet rules "kick in" even that is far better than it has been in the past
Bookmaking is not like any other business in that pricing what a horse is "worth" is pure guess work, not like any other product on the market.....
It would be very easy for a bookie to go broke without certain rules in play, they are sitting ducks for smart punters, the flucs from Wednesday to Saturday are huge at times,
The percentages may seem like they don't change much but if you look at the top price bet about every horse in a race over the 3 days I reckon in a lot of races it would be under 100% meaning if every horse was backed at the top price bet Bookies would be guaranteed to lose on a race
then they have their overheads to cover as well, they are really working on low percentage on turnover profit, they need to turnover a lot of money and not from "smart" punters
I.E. there was a well advertised punter who had 2 bites of Pierata in early markets on Saturday, $30,000 each bet in a market of probably 130% it was a stupid bet regardless of the result, he would have received a better price if he had waited and winning is all about the price you get when you win
picking winners is the easy part, every single punter backs winners........but very few actually win........
If you always do what you always did, you will always get what you always got!
In short I don't think punters have ever been better off, the trick is to learn how they work, there will always be opportunities to beat them, I would rather be a Punter than a Bookie any day
P.S. does Bet365 still offer cash out on single bets??