Bad odds on e/w

IrishKev

Hi lads,
Just bet on the 2:20 in Doncaster there on both Bakoura and Royal Liason with Boyles, both e/w as shown in screenshot. Now didn't bet much by any means, but still put down €7 altogether. Bakoura came in 2nd and RL 3rd, expected to at least make a fiver between them. Turns out I made a loss?? I know I only bet each way and didn't expect to make a whole lot but what the hell is that about? The reason for betting each way is to cover yourself if the horse is doubtful of winning, but I made a loss (fairly small, but a loss is a loss) on each horse. Is that right?

j@utis

yes, it is.

place is generaly 1/5 of the odds: of 9/2 is 0.9, your stake's ew part is 1eur, 1*0.9=0.9 plus your stake back 0.9+1=1.9; the same with the second bet too.

you need 5/1 shot to place to get your money back if place pays 1/5 off the odds. good luck.

IrishKev

OK thanks, well explained

Verance

Ha you were actually getting really good odds on the each way, they were shorter on Betfair.

mark renton

Verance wrote: »

Ha you were actually getting really good odds on the each way, they were shorter on Betfair.

they are always shorter on betfair

betfair is no place for a place

Verance

john47832 wrote: »

they are always shorter on betfair

betfair is no place for a place

Over 95% of the time place prices on Betfair are bigger.

longshotvalue

Not really a lot of the time the place price on betfair is shorter, but it is lilely to more reflect a horses chance of placing, and there is no need for the win side of the bet, which can then rep better value, if a horse has no chance of winning but way better chance than 1/5th of placing (for example) 20/1 ew is in effect 1/5th of 10/1 on the size of your bet with the bookies..

not sure if i explained it really but, on betfair, each side of the bet can be evaluated individually, and if the place only bet is better then this can be bet bigger than the win side.. or visa versa..

Verance

aidankkk wrote: »

Not really a lot of the time the place price on betfair is shorter, but it is lilely to more reflect a horses chance of placing, and there is no need for the win side of the bet, which can then rep better value, if a horse has no chance of winning but way better chance than 1/5th of placing (for example) 20/1 ew is in effect 1/5th of 10/1 on the size of your bet with the bookies..

not sure if i explained it really but, on betfair, each side of the bet can be evaluated individually, and if the place only bet is better then this can be bet bigger than the win side.. or visa versa..

Yeah that's only the case with around 5% of horses though (roughly).

And should be exploited where possible

POINTBREAK

I thought the place only price was always shorter on Betfair, but someone pointed out (was it you Verance) that the win market odds on Betfair were within 1% of being the true odds and it was assumed the place was the same.
The 100.6% return on backing every horse on the win market figure rings a bell.