Dont get my stake back?

rightyabe

Ok I set up a online account on my iphone for a Australian bookies because I live in Australia. Over here its all decemil not fractions.

My questions is;

I put a $5 bet on a dog to win at odds of 2.00
I guessed if I won I would get $10 winnings and my $5 stake back but I only got $10 put into my account. Is this normal with decemil betting?

I opened my account with $50 after the bet was placed it went to $45 and after I won in went up to $55? Anyone advise me, the app is SportingBet.

Ive bet loads since and every win never gives my stake back.

Cheeers.

Valetta

2.0 is the equivalent of Evens in fractions, so your return was correct.

paddymayoman

I think 2.00 in decimal is the same as evens in fractions, 3.00 would be 2/1, 4.00 would be 3/1, etc.

rightyabe

ara jesus, I thought 1.00 was evens.

Here is anothe example:

Price to win $1.52
Stake win $6.00
Payout win $9.12

6 x 1.52=9.12

I got $9.12 into my account but no stake returned, I guessed I would get my stake back as well?

paddymayoman

$6 @1/2 (1.50) would pay $9

rightyabe

Cheers lads, found this on wiki and it explaines it

http://en.wikipedia.org/wiki/Fixed-odds_betting

Just really annoying when your used to fraction odds and expecting your stake back.

P_1

rightyabe wrote: »

ara jesus, I thought 1.00 was evens.

Here is anothe example:

Price to win $1.52
Stake win $6.00
Payout win $9.12

6 x 1.52=9.12

I got $9.12 into my account but no stake returned, I guessed I would get my stake back as well?

Yeah with decimal odds your stake is always included in the payout.

So in that case 6*1.52 = 9.12

To use fractional odds 1.52 = slightly over 1/2 so a stake of 6 at those odds gives a profit of 3 = total return of 9.

Just think of the decimal odds being like the interest a bank would pay out on a savings account.

So odds of 1.52 = 52% 'interest'
Odds of 2 = 100% 'interest'
Odds of 3 = 200% 'interest'
and so on...

carly_86

Don't understand why you would gamble if you don't understand how the pricing works.

Zuko123

No woder the bookies are raking it in

Zuko123

No wonder the bookies are raking it in