Head of Sportsbook Q&A Transcript

Head of Sportsbook Q&A Transcript

By Gary Wise Aug 8, 2013

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The Pinnacle Sports Head of Sportsbook Q&A, hosted on @PinnacleSports on August 6th, exceeded both our expectations and Twitter’s messages-per-hour limitation. The volume of questions from so many interested parties actually caused Twitter to temporarily block us from responding, so we couldn’t thank you for your help making it a great event or link to this transcript.

Pinnacle Sports – and the Head of Sportsbook – would like to thank everyone for sharing their interesting questions and allowing us the opportunity to interact with customers in a previously untested way. While we’re clearly happy with the results of the chat, the one thing we’d like to have managed better was its ending.

The abruptness of our termination meant that we didn’t get to tell followers that they could read the full transcript here in our betting articles section. We also didn’t get to mention that we would be expanding on the questions asked, providing more depth and detail.

The Twitter Q&A Transcript

@PinnacleSports 6h

Hello all, I’m Gary W, manager of social media at Pinnacle Sports. We’re just waiting for Head of Sportsbook now #AskPinnacle

@PinnacleSports 6h

In the interest of saving space, we’ll be referring to him as HoS from here on out. #AskPinnacle

@PinnacleSports 6h

Once HoS is here, we’ll start addressing your questions #AskPinnacle

@PinnacleSports 6h

Please Remember to use the #AskPinnacle hashtag as we’re using it to track your questions.

@PinnacleSports 6h

Also, please remember that HoS is here to talk specifically about his areas of expertise: #AskPinnacle

@PinnacleSports 6h

The sportsbook, betting, betting theory & strategy, trading operations, traders, markets and himself. #AskPinnacle

@PinnacleSports 6h

His time here is limited, so let’s keep the questions to those areas. #AskPinnacle

@PinnacleSports 6h

We hope you’ll stay around for the entire chat, a we will have some exciting announcements about both the sportsbook & Twitter #AskPinnacle

@PinnacleSports 6h

And we’ll be giving away a prize for HoS’s favourite question today. #AskPinnacle

@PinnacleSports 6h

HoS has arrived! We’re ready to go. Let’s begin #AskPinnacle

@PinnacleSports 6h

From @Nilsen90: “How can I identify value when betting on soccer? #AskPinnacle

@PinnacleSports 6h

HoS: we can’t give away all of that answer, but I can say that right after line-ups are released are a good time. #AskPinnacle

John Brooke @borisYNWA 6h

#AskPinnacle do you have large winners on AFL? Do your traders have big opinions on it?

@PinnacleSports 6h

HoS: @borisYNWA AFL is a medium-sized market. “Large winners” is relative. Relative to size, there are always large winners. #AskPinnacle

@PinnacleSports 6h

From @bdoweb: “Are odds set by statistical analysis of past data, or do you copy lines or guess based on subjective input? #AskPinnacle

@PinnacleSports 6h

HoS: It’s a mix of all of them. We take past data into account, but we also use market information. There’s a human element. #AskPinnacle

Peter Fletcher @fletch300 6h

@PinnacleSports #AskPinnacle do you frown upon people who are arbing by betting with you and laying on the betting exchange. Do you ban them

@PinnacleSports 5h

Gary W: @fletch300 This will explain: http://www.pinnaclesports.com/online-betting-articles/02-2013/arbitrage-bettors-best-friend.aspx?ito=twitter …

Peter Fletcher @fletch300 2h

@PinnacleSports thanks for the reply to my question. Nice to know there is one company who do not mind arbing. Shame others don’t follow you

dee gee @deegee1964 7h

@PinnacleSports #AskPinnacle I your odds are great but do you intend to do any Money Back offers that a lot of uk books do?

@PinnacleSports 6h

.@deegee1964 Only if you want worse odds. We don’t #AskPinnacle

Tiger888shark @Tiger888shark 6h

I bet sports with ca. 1.04 EV and my betting accounts are normally closed. Why you still give me action and good service? #askpinnacle

@PinnacleSports 5h

HoS: @Tiger888shark We like the challenge and the model has worked for us for 15 years. #AskPinnacle

Chileantipster @Chileantipster 6h

@PinnacleSports Hi Gary and “HoS”, I would like to know how your office looks (TV screens?)? Do you spend weekends in there #AskPinnacle

@PinnacleSports 6h

HoS: @Chileantipster We make our work environment comfortable for our staff. More TV screens than you can count. #AskPinnacle

@PinnacleSports 6h

HoS: @Chileantipster …and yes, we often spend weeks in here. #AskPinnacle

gizzajob @gizza_tips 8h

#AskPinnacle can you consider supporting growth markets such as cycling more by opening markets earlier and with more options (eg top3)? thx

@PinnacleSports 6h

HoS: @gizza_tips if the interest picks up. It’s a mutual thing. When customers want to bet it, we want to grow it. #AskPinnacle

Don Goldman @Gamblor82 6h

How does @PinnacleSports determine whether a “bad line” bet should be voided? I’ve had some voided and some not in the past

@PinnacleSports 5h

HoS: @Gamblor82 We apply common sense…try to err on the side of the customer, but we void if it’s substantial. #HumanElement #AskPinnacle

@PinnacleSports 6h

From @pwnitat0r: “Why are we trying to beat you? Don’t you generate 2-way action to balance the book and take the juice?” #AskPinnacle

@PinnacleSports 6h

That’s an antiquated way of looking at bookmakers. With our margins, we have a much higher exposure and if we… #AskPinnacle

@PinnacleSports 6h

HoS: (con’t) set lines badly, we’ll be exposed on one side. We manage our lines, not our players. #AskPinnacle

Johnny Gonzlez @johnnyspinning 6h

#AskPinnacle Does the pre season soccer matches results have any influence in odds pricing at the beginning of a season?

@PinnacleSports 6h

HoS: @johnnyspinning Yes, of course. New trainers, new coaches, new strategies, new players. All have to be eveluated. #AskPinnacle

BetPreviews.com @BetPreviews 7h

@PinnacleSports Any plans to offer more in-play betting markets on EPL and NFL? #AskPinnacle

@PinnacleSports 6h

HoS: @BetPreviews Yes, for EPL we have plans to expand it. For the NFL, there are no plans right now. #AskPinnacle

@PinnacleSports 6h

#HoS: I think we’re better than the exchanges already. #AskPinnacle

@PinnacleSports 6h

From @sdlfjkdfkjgikdf: “Why don’t you offer parlays on NFL season win totals?” #AskPinnacle

@PinnacleSports 6h

#HoS: We only offer parlays on game lines right now, but that will change in the future. #AskPinnacle

#eklund @eklund81 6h

#askPinnacle The france handball league, Will it be able to bet on this season?

@PinnacleSports 6h

HoS: @eklund81 Probably not

Areg Oganesian @AregOganesian 6h

@PinnacleSports #AskPinnacle How do you make decisions on the leagues you offer? There are lots of them you never offer,

@PinnacleSports 5h

HoS: @AregOganesian it has to be in large demand. We cater to a global market. Niche sports are too specific for us to offer. #AskPinnacle

@PinnacleSports 6h

From @SundanceKid71 “Imagine if a bettor would come and win $300K/month with you. How long would you let him continue?” #AskPinnacle

@PinnacleSports 6h

HoS: We don’t plan on stopping that kind of customer. They may quit once they’ve bought their Caribbean Island though. #AskPinnacle.

@PinnacleSports 6h

HoS: We have players who win far more than that. #AskPinnacle

James Poole @James_J_Poole 6h

@PinnacleSports How often do you set a early line with low limits to see what the market reaction is? #AskPinnacle

@PinnacleSports 5h

HoS: @James_J_Poole Sometimes. We like to open at a lower limit and let the market dictate. #AskPinnacle

Frank Forti @FrankForti 6h

@PinnacleSports Was there a reason you dropped horse racing as a betting option and will it ever return? #AskPinnacle

@PinnacleSports 6h

HoS: @FrankForti We don’t specialize in horses and can’t offer it to our obviously high standards. #AskPinnacle

@PinnacleSports 6h

From betonbasket.ru: “Can we expect more markets for Euro basketball, hockey etc – team totals, half spreads & total etc?” #AskPinnacle

@PinnacleSports 6h

HoS: Probably not. Our markets are defined by popularity. #AskPinnacle

NevsFootyNaps @NevsFootyNaps 6h

Any sign of correct score, anytime scorer and both teams to score markets being added to your site? #please #AskPinnacle

@PinnacleSports 5h

HoS: @NevsFootyNaps Yes. We are actively working on providing these markets on a more regular basis. #AskPinnacle

John Brooke @borisYNWA 6h

#AskPinnacle do you have large winners on AFL? Do your traders have big opinions on it?

@PinnacleSports 6h

HoS: @borisYNWA AFL is a medium-sized market. “Large winners” is relative. Relative to size, there are always large winners. #AskPinnacle

Richard Borrowdale @tai671 6h

@PinnacleSports How does someone become HoS for Pinnacle? What was your career path? How many traders work for you? #AskPinnacle

@PinnacleSports 6h

GaryW: @tai671 Our content team is working on articles on this topic right now. Keep your eyes on Twitter in coming weeks. #AskPinnacle

Tiger888shark @Tiger888shark 6h

Is there any cultural bias how the customers bet from different continents (like some favouring favorites, overs, homes etc.)? #AskPinnacle

@PinnacleSports 6h

HoS: @Tiger888shark Most countries show a bias towards their home teams and stars and yes, some do prefer overs, unders etc. #AskPinnacle

Warren Sharp @SharpFootball 6h

@PinnacleSports Which NFL teams are attracting the most interest from your sharper clients, and which teams are they fading?

@PinnacleSports 5h

HoS: @SharpFootball Often, sharps like to oppose the big action teams. They are on the supposed underdogs. #AskPinnacle

@PinnacleSports 6h

From Toni: “Betfair recently raised commission to 7% in many countries. Will you lower your odds now?” #AskPinnacle

@PinnacleSports 6h

HoS: What Betfair does has no influence on what we do. #AskPinnacle

@PinnacleSports 6h

From @toffeeman1 “Will your traders use Betfair to lay liabilities off? If so why and when will they do this?” #AskPinnacle

@PinnacleSports 6h

HoS: We do not hedge wagers. Our traders are trained to manage our lines to handle our risk. #AskPinnacle

Dan W @Tennisratings 6h

@PinnacleSports do you have any plans to offer a consistent inplay tennis product? And any plans for Challenger markets? #askpinnacle

@PinnacleSports 6h

HoS: @Tennisratings Yes. Challenger markets very soon and we are working on improving tennis live. major focus this year. #AskPinnacle

James Poole @James_J_Poole 6h

@PinnacleSports How often do you set a early line with low limits to see what the market reaction is? #AskPinnacle

@PinnacleSports 6h

HoS: @James_J_Poole Sometimes. We like to open at a lower limit and let the market dictate. #AskPinnacle

Pawel Golab @PawelGolab 5h

Why don’t you afraid of arbitrage betting? Most bookmakers don’t like players using arbitrage. #AskPinnacle

@PinnacleSports 5h

HoS: @PawelGolab The other bookies are just afraid of us. #AskPinnacle

jason cox @coldguinnessman 5h

@PinnacleSports #askpinnacle you say that betfair has no influence on your decisions yet your prices are always lower

@PinnacleSports 5h

HoS: @coldguinnessman if you figure in commission you will see that our price speak for themself #AskPinnacle

@PinnacleSports 6h

@toffeeman1 “In soccer, do you adjust prices in-play according to a team playing better than you thought? #AskPinnacle

@PinnacleSports 6h

HoS: Team strength play a role, time decay plays a role, but there are many other factors also. #AskPinnacle

r3coil @r3coil_5h

@PinnacleSports Do you collaborate with other books, sharing customer information, to crack down on arbs and fraud? #AskPinnacle

@PinnacleSports 6h

HoS: @r3coil_ We love arbs. No. #AskPinnacle

Julian Canny @juliancanny 5h

What is the highest you have ever had your limits at? And what was the event? #AskPinnacle

@PinnacleSports 6h

HoS: @juliancanny We did $500,000 on Champions league, but wait til you see next year’s world cup #offthecharts #AskPinnacle

Don Goldman @Gamblor82 7h

How does @PinnacleSports determine whether a “bad line” bet should be voided? I’ve had so

@PinnacleSports 5h

HoS: @Gamblor82 We apply common sense…try to err on the side of the customer, but we void if it’s substantial. #HumanElement #AskPinnacle

@PinnacleSports 5h

Frm @mickmeister: “How do you fit with Asian betting market? Do you follow them? Do they follow you? Do you hedge with them?“ #AskPinnacle

@PinnacleSports 5h

HoS: We are part of the global market. The market connects the world to each other, so all bookies influence each other. #AskPinnacle

Chris Cornelis @onlyfoolsgamble 5h

#askpinnacle what is your opinion on Betfair’s premium charge imposed on winning customers?

@PinnacleSports 5h

HoS: @onlyfoolsgamble We love it! I’m a big fan of Betfair’s new high commission rates and charges. #AskPinnacle

@PinnacleSports 5h

From @DavidPurdum: “Roughly 10 or 11 days ago, there was a line movement in of Alabama -6.5 to -9. (vs Texas A&M). Why?” #AskPinnacle

@PinnacleSports 5h

HoS: Money #AskPinnacle

@PinnacleSports 5h

GaryW: Due to the high demand, we’re going to keep going past the hour. Keep them coming folks! HoS is loving this! #AskPinnacle

ED @vvbet 5h

#AskPinnacle Is beating the @PinnacleSports closing line a good indicator of a value bet in soccer markets?

@PinnacleSports 5h

HoS: @vvbet If you beat our closing line often enough, you’ll soon be a rich man. #AskPinnacle

tony ansell @progambler47 5h

#askpinnacle why are your stake limits on athletics so tiny? I’m sure that on head to heads you could be much bolder

@PinnacleSports 5h

HoS: @progambler47 Like I said earlier, our market popularity determines our limits. Bet more. #AskPinnacle.

Ted Knutson @mixedknuts 5h

This #askpinnacle tweetfest is pretty enjoyable. All blows to Betfair have been totally above the belt as well, which is impressive.

nikolaos kouris @nicecallsir 5h

#AskPinnacle Is the live soccer o/u market, adjusted, by combining algorithm and bets or by trader who watches the game? Expand

@PinnacleSports 5h

HoS: @nicecallsir Everything combined. #AskPinnacle

Warren Sharp @SharpFootball 5h

@PinnacleSports Given your answer that “all bookies influence each other”, who do you feel has the sharpest line in Las Vegas? #AskPinnacle

@PinnacleSports 6h

HoS: @SharpFootball The one that follows us the closest. #AskPinnacle

BetSec @BetSec 5h

Players from which country are the most dangeroes for @PinnacleSports? And don’t say you don’t afraid players at all #AskPinnacle

@PinnacleSports 5h

HoS: @BetSec If you’re a winner, you’re a winner. Doesn’t matter what country you are from. #AskPinnacle

Tiger888shark @Tiger888shark 5h

Are there any differences between “trade-balances” of different countries? Like Scandinavians doing well with NHL-hockey etc. ? #askpinnacle

@PinnacleSports 5h

HoS: @Tiger888shark Scandinavians do like to bet hockey more, but I don’t think it’s an indicator of their performance. #AskPinnacle

@PinnacleSports 5h

From @bettingresource “Our clients are up 500U for the year. If they continue, would they be put on limits?“ #AskPinnacle

@PinnacleSports 5h

HoS: We do not limit anybody. Ever. #AskPinnacle

Chris bookie basher @nightlinebet 5h

#AskPinnacle Do you think the days off bringing down the bookie are over or do you think we still have hope

@PinnacleSports 5h

HoS: @nightlinebet I think with today’s small margins, betting success is a matter of diligence. #AskPinnacle

PayneInsider.com @PayneInsider 5h

@PinnacleSports recreational bettors have trouble assessing edge, give them an idea of what your advantage players avg. edge is.#AskPinnacle

@PinnacleSports 6h

HoS: @PayneInsider It depends on the market. In niche sports, our lines aren’t as efficient, so the edge is bigger. #AskPinnacle

bettingexpert @bettingexpert 5h

@PinnacleSports You’re our betting community’s most popular bookmaker. Which sport and leagues attract the most action? #AskPinnacle

@PinnacleSports 6h

HoS: @bettingexpert Soccer is by far our biggest sport. The number of games and global TV coverage make it that way. #AskPinnacle

Connor O’Neil @Con_027 5h

@PinnacleSports Do traders have in-depth knowledge of specific leagues that they work on or is there a high reliance on data #AskPinnacle

@PinnacleSports 5h

HoS: @Con_027 it’s mixed. Some of our traders are experts in specific leagues. Some prefer a more general approach. #AskPinnacle

Luke Cotton @LukeCotton 5h

#AskPinnacle how model driven vs traders opinion are your Esports markets?

@PinnacleSports 6h

HoS: @LukeCotton We treat esports in a very similar way to other sports, weighing multiple factors. #AskPinnacle

@PinnacleSports 5h

HoS: @LukeCotton We’re very excited about eSports. #AskPinnacle

Tiger888shark @Tiger888shark 5h

Do you ever differ from your “correct” probability-estimate with your prices if you know the punters will bet one sided anyway?

@PinnacleSports 6h

HoS: @Tiger888shark price is always determined by money and market information. #AskPinnacle

Bobby Brooks @BrooksBets 5h

@PinnacleSports have you considered adding Entertainment betting? #AskPinnacle

@PinnacleSports 6h

HoS: @BrooksBets Sadly, the outcomes of entertainment events are often known before the start of the event. #AskPinnacle.

BetOnTarget.com @BetOnTarget 5h

@PinnacleSports @PinnacleSports #AskPinnacle In other words would you be confident in your line vs our algorithm and be happy to take bets ?

@PinnacleSports 5h

HoS: @BetOnTarget Sure. Bring it on. #AskPinnacle

@PinnacleAffs 5h

Sorry everyone @PinnacleSports just hit our account max tweets! #AskPinnacle

@GaryWise1 5h

Hi guys, Gary W here. We’re clearly out of time, but HoS says thank you to everyone for the questions. #AskPinnacle

@GaryWise1 5h

He’s enjoyed this process and I think we can convince him to do it again. #AskPinnacle

@GaryWise1 5h

I will announce the name of our “best question” promotion here shortly. #AskPinnacle

@GaryWise1 5h

We’re glad to have exceeded our maximum…it means we did our job. #AskPinnacle.

@GaryWise1 5h

Keep your eyes on this space for soon-to-be announced twitter promotions and a transcript of today’s chat. #AskPinnacle

Gary Wise @GaryWise15h

We will also be addressing some of your unanswered questions.

If you have feedback, comments or questions regarding this article, please email the author or send us a tweet on Twitter.

*Odds subject to change