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Noobie bet

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  • 16-07-2012 6:23pm
    #1
    Joni23
    Registered Users Posts: 133 ✭✭


    Hi, I realise this is a silly question but i have a 50 euro free bet that has to be used up soon and I need some help with odds.

    Im looking at the Golf open championship and for an each way bet it says 1/4 places 1,2,3,4,5,6,7. Can anyone explain what this means? The odds for an outright win is around 33/1.


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    #2
    ft9
    Registered Users Posts: 4,408 ✭✭✭ft9


    An each-way bet is a wager offered by bookmakers consisting of two separate bets: a win bet and a place bet. For the win part of the bet to give a return, the selection must win, or finish first, in the event. For the place part of the bet to give a return, the selection must either win or finish in one of the predetermined 'places' for the event, such as in first "place" or second "place". The odds paid on the place part of the bet are usually a fraction (commonly 1⁄2, 1⁄3, 1⁄4 or 1⁄5) of the win odds. The trade-off being that one has a greater chance of making one's bet in trade for getting less payoff for doing so. Examples are domestic football knockout competitions (e.g., FA Cup) where the quoted place terms may be 1⁄2 the odds a place 1st or 2nd and horse racing where the quoted place terms may be 1⁄5 the odds a place in 1st, 2nd, or 3rd.


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    #3
    Joni23
    Registered Users Posts: 133 ✭✭Joni23


    ft9 wrote: »
    An each-way bet is a wager offered by bookmakers consisting of two separate bets: a win bet and a place bet. For the win part of the bet to give a return, the selection must win, or finish first, in the event. For the place part of the bet to give a return, the selection must either win or finish in one of the predetermined 'places' for the event, such as in first "place" or second "place". The odds paid on the place part of the bet are usually a fraction (commonly 1⁄2, 1⁄3, 1⁄4 or 1⁄5) of the win odds. The trade-off being that one has a greater chance of making one's bet in trade for getting less payoff for doing so. Examples are domestic football knockout competitions (e.g., FA Cup) where the quoted place terms may be 1⁄2 the odds a place 1st or 2nd and horse racing where the quoted place terms may be 1⁄5 the odds a place in 1st, 2nd, or 3rd.

    So in other words if he places in positions 1 to 7, id get 25 (e/w) by 33, divided by 4, or €206.25. As apposed to outright win of 50 x 33, €1650. Quite a trade off alright. Thanks ft9.


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    #4
    ft9
    Registered Users Posts: 4,408 ✭✭✭ft9


    For €25 ew @ 33/1

    A place (2nd, 3rd, 4th, 5th, 6th or 7th) would return €231.25

    A win (1st place) would return €1,081.25


    For €50 win @ 33/1

    A place would return €0

    A win would return €1,700


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    #5
    Degag
    Registered Users Posts: 9,954 ✭✭✭Degag


    Does the 50e have to be placed on one single bet? If not you could have a fiver each way on 5 different golfers.


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    #6
    BKC
    Registered Users Posts: 1,191 ✭✭✭BKC


    Degag wrote: »
    Does the 50e have to be placed on one single bet? If not you could have a fiver each way on 5 different golfers.

    I presume the free bet is with Paddy Power so it has to be one single bet.


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    #7
    Mellor
    Registered Users Posts: 39,069 ✭✭✭✭Mellor


    ft9 wrote: »
    For €25 ew @ 33/1

    A place (2nd, 3rd, 4th, 5th, 6th or 7th) would return €231.25

    A win (1st place) would return €1,081.25


    For €50 win @ 33/1

    A place would return €0

    A win would return €1,700
    Your numbers are slightly off.
    There's no stake back.

    For €25 ew @ 33/1
    A place (2nd - 7th) would return €206.25
    A win would return €1,031.25

    For €50 win @ 33/1
    A place would return €0
    A win would return €1,650


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    #8
    ft9
    Registered Users Posts: 4,408 ✭✭✭ft9


    My apologies, I never thought of the no stake back if with PP. Bet365 are my main bookie.


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    #9
    Joni23
    Registered Users Posts: 133 ✭✭Joni23


    So its like 2 separate bets, one for first and one for places 1 - 7. Thanks everyone. Ya i had five or six picks lined up before i found out it had to be all in one bet. I think ill go with the apparently ever reliable Lee Westwood ahead of Phil Mickelson, lower odds of 15/1 but oh well. Maybe a sneaky €5 ew in there too.


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