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Betfair each way betting - golf

  • 23-07-2013 10:59am
    #1
    Gurks
    Registered Users, Registered Users 2 Posts: 8 ✭


    Hi,

    I've just had an each way bet in The Open paid out at much less than I was expecting from Betfair.

    I backed Matsuyama at 175/1 with £2.50 each way - Betfair advertise 1/4 odds each way for places 1-6. My calculations:

    175 x 2.5 x 1/4 = £109.37

    Betfair's payout - £37.29. I have no idea how this has been worked out - am I missing something? Very confused! :confused:

    Thanks,
    G


Comments

  • #2
    whiteshorts
    Site Banned Posts: 880 ✭✭✭whiteshorts


    Sportsbook I guess as Exchange doesn't do e/w bets.

    He tied for 6th with 2 others for 6th (& 7th & 8th) so it's 2/3 of stake lost and 1/3 stake at full odds.

    0.83 (2.50 *1/3) * 175/4 = 36.09 Plus stake back (1/3 of 2.50) = 0.83 = €36.92
    Not sure where they got their figure of 37.29 but maybe I've missed something.


  • #3
    Gurks
    Registered Users, Registered Users 2 Posts: 8 ✭Gurks


    Thanks for the fast reply - makes sense and saves me of having to contact BF to get an explanation!


  • #4
    MrJoeSoap
    Registered Users, Registered Users 2 Posts: 15,117 ✭✭✭✭MrJoeSoap


    whiteshorts wrote: »
    0.83 (2.50 *1/3) * 175/4 = 36.09 Plus stake back (1/3 of 2.50) = 0.83 = €36.92
    Not sure where they got their figure of 37.29 but maybe I've missed something.

    Rather than just using .83, use .83333

    (0.83333 * 175) / 4 = 36.4581875

    Then add the stake of .83333 and you have 37.2915175, which rounds off nicely to €37.29


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