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Payout question

  • 03-01-2013 2:37pm
    #1
    Dicky Pride
    Closed Accounts Posts: 1,322 ✭✭✭


    €50 free bet (so stake is not returned)

    Bet: €50 on a horse at 3-1

    Result: Dead Heat for 1st place.

    What should the payout be?


Comments

  • #2
    Pudders
    Registered Users Posts: 822 ✭✭✭Pudders


    Stake is halved. So €25 at 3/1 payout (with them holding your stake) should be €75 I would have assumed but I assume you have got €50 back only hence the question.


  • #3
    ft9
    Registered Users Posts: 4,408 ✭✭✭ft9


    Assuming 2 horses dead heated, €75.

    Your stake divided by 2 = 25

    Multiplied by full odds 25 x 3 = €75


  • #4
    Dicky Pride
    Closed Accounts Posts: 1,322 ✭✭✭Dicky Pride


    Pudders wrote: »
    Stake is halved. So €25 at 3/1 payout (with them holding your stake) should be €75 I would have assumed but I assume you have got €50 back only hence the question.

    Exactly...I only got €50 back and this didn't seem right to me. I'll see if any other opinions arrive but what you guys have said above seems right to me.


  • #5
    carly_86
    Closed Accounts Posts: 523 ✭✭✭carly_86


    most bookies pay full odds on dead heat well the smaller ones do


  • #6
    Dicky Pride
    Closed Accounts Posts: 1,322 ✭✭✭Dicky Pride


    carly_86 wrote: »
    most bookies pay full odds on dead heat well the smaller ones do

    Not in this case. (ladbrokes)


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  • #7
    DB74
    Registered Users Posts: 559 ✭✭✭DB74


    Pudders wrote: »
    Stake is halved. So €25 at 3/1 payout (with them holding your stake) should be €75 I would have assumed but I assume you have got €50 back only hence the question.

    Just as a matter of interest, why did you assume that the OP only got €50 back (as opposed to say nothing or €25 or any other arbitrary figure)?

    I agree that you should get back €75

    The only other thing I can think of is if there was a Rule 4 in the race. What race was it OP?


  • #8
    Dicky Pride
    Closed Accounts Posts: 1,322 ✭✭✭Dicky Pride


    DB74 wrote: »
    Just as a matter of interest, why did you assume that the OP only got €50 back (as opposed to say nothing or €25 or any other arbitrary figure)?

    I agree that you should get back €75

    The only other thing I can think of is if there was a Rule 4 in the race. What race was it OP?

    It wasn't my bet and I've just had clarification of what it was (i just assumed it was horses).

    It was yesterday's Afternoon Trap Challenge combined. Trap 2 was 3-1 and was dead heatted with trap 6 (both won the same amount of races.)

    I asked a bookie on twitter and he also said it should be €75. I took an interest cause he asked me last night what he should expect to get and i told him 75


  • #9
    carly_86
    Closed Accounts Posts: 523 ✭✭✭carly_86


    Dicky Pride wrote: »

    Not in this case. (ladbrokes)
    don't even know why people go go there they don't even guarantee prices on single bets any more


  • #10
    Pudders
    Registered Users Posts: 822 ✭✭✭Pudders


    DB74 wrote: »
    Just as a matter of interest, why did you assume that the OP only got €50 back (as opposed to say nothing or €25 or any other arbitrary figure)?

    I agree that you should get back €75

    The only other thing I can think of is if there was a Rule 4 in the race. What race was it OP?

    I assumed they had settled his bet as a winner at €100. Then deducted the €50 as the free bet stake giving €50 without taking into account the halving of the stake etc as the software on the free bet payout probably hadn't been writen with a dead heat in mind and took his winnings less the free stake. Just trying to work out what he might have been paid given his question versus what he should have been paid out. I know it is an arbitrary amount the €50 but you can see how logically you might gt to that figure against €25 or nothing etc.


  • #11
    Dicky Pride
    Closed Accounts Posts: 1,322 ✭✭✭Dicky Pride


    carly_86 wrote: »
    don't even know why people go go there they don't even guarantee prices on single bets any more

    Sometimes I'd imagine it's just a case of geography.


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  • #12
    carly_86
    Closed Accounts Posts: 523 ✭✭✭carly_86


    Dicky Pride wrote: »

    Sometimes I'd imagine it's just a case of geography.
    Wat


  • #13
    DB74
    Registered Users Posts: 559 ✭✭✭DB74


    Pudders wrote: »
    I assumed they had settled his bet as a winner at €100. Then deducted the €50 as the free bet stake giving €50 without taking into account the halving of the stake etc as the software on the free bet payout probably hadn't been writen with a dead heat in mind and took his winnings less the free stake. Just trying to work out what he might have been paid given his question versus what he should have been paid out. I know it is an arbitrary amount the €50 but you can see how logically you might gt to that figure against €25 or nothing etc.

    Yeah that makes sense actually


  • #14
    Dicky Pride
    Closed Accounts Posts: 1,322 ✭✭✭Dicky Pride


    carly_86 wrote: »
    Wat

    If the only bookies near you is a ladbrokes.


  • #15
    carly_86
    Closed Accounts Posts: 523 ✭✭✭carly_86


    Dicky Pride wrote: »

    If the only bookies near you is a ladbrokes.
    there is a few around. can't understand why they stopped the prices


  • #16
    Dicky Pride
    Closed Accounts Posts: 1,322 ✭✭✭Dicky Pride


    carly_86 wrote: »
    there is a few around. can't understand why they stopped the prices

    They're hungry. They don't even give money back specials anymore, just money back as free bets etc.

    They gave money back on the darts final cause Taylor got a 170 checkout - 2 conditions, 1 - it was money back as a free bet, and 2- it was up to a max of €50.

    Both selections were 10/11


  • #17
    carly_86
    Closed Accounts Posts: 523 ✭✭✭carly_86


    Dicky Pride wrote: »

    They're hungry. They don't even give money back specials anymore, just money back as free bets etc.

    They gave money back on the darts final cause Taylor got a 170 checkout - 2 conditions, 1 - it was money back as a free bet, and 2- it was up to a max of €50.

    Both selections were 10/11

    paddy power are hungry as well yet people go in cause of there name but if you compare there prices with another betting shop there far worse and the specials arent all that great


  • #18
    UrbanSea
    Closed Accounts Posts: 18,335 ✭✭✭✭UrbanSea


    PP offer very good specials on horses especially. Plenty of PP begrudgers on here, not entirely sure why, they're one of the fairest bookies by a mile


  • #19
    Dicky Pride
    Closed Accounts Posts: 1,322 ✭✭✭Dicky Pride


    This what Ladbrokes had to say on the matter:

    Unfortunately as it was a dead-heat your stake would have been halved making it £25 at 3/1 which comes to £100 - (£50 free bet stake) = a total return of £50.


  • #20
    UrbanSea
    Closed Accounts Posts: 18,335 ✭✭✭✭UrbanSea


    Am I the only one who finds that very harsh, they divide the stake by half fair enough, then take away the full stake


  • #21
    DB74
    Registered Users Posts: 559 ✭✭✭DB74


    UrbanSea wrote: »
    Am I the only one who finds that very harsh, they divide the stake by half fair enough, then take away the full stake

    If by "very harsh" you mean "an absolute joke" then I totally agree. It's a disgrace really. In fact, I would think that if you took this to IBAS then you would win your case.

    You've already lost half the "stake" because it's a dead-heat and then they deduct the full "stake" from any returns. How anyone can think that's the correct way to settle a bet (free or otherwise) is beyond me.


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  • #22
    premierstone
    Registered Users Posts: 7,706 ✭✭✭premierstone


    They are completely out of order and wrong here and to illustrate the point, lets say you had placed the bet on a 1/2 shot, based on their figures that would now be - €25@ 1/2 = €37.50 less the €50, therefore you would owe them €12.50 having backed a winner??? Madness Ted :eek:


  • #23
    Dicky Pride
    Closed Accounts Posts: 1,322 ✭✭✭Dicky Pride


    premierstone wrote: »
    They are completely out of order and wrong here and to illustrate the point, lets say you had placed the bet on a 1/2 shot, based on their figures that would now be - €25@ 1/2 = €37.50 less the €50, therefore you would owe them €12.50 having backed a winner??? Madness Ted :eek:

    Good point...


  • #24
    carly_86
    Closed Accounts Posts: 523 ✭✭✭carly_86


    UrbanSea wrote: »
    PP offer very good specials on horses especially. Plenty of PP begrudgers on here, not entirely sure why, they're one of the fairest bookies by a mile

    you obviously don't bet go independent betting shops


  • #25
    ft9
    Registered Users Posts: 4,408 ✭✭✭ft9


    carly_86 wrote: »
    you obviously don't bet go independent betting shops

    ???


  • #26
    UrbanSea
    Closed Accounts Posts: 18,335 ✭✭✭✭UrbanSea


    carly_86 wrote: »
    you obviously don't bet go independent betting shops

    Because there are so many of them. I live in Sligo and Dublin. Used to bet in the one in Sligo that closed three years ago, cannot think of a single independent in the city centre.


    So inform me where I should be betting


  • #27
    Dicky Pride
    Closed Accounts Posts: 1,322 ✭✭✭Dicky Pride


    Thank you for your e-mail.

    If you had backed something at the odds of 1/2 you would not have any returns.

    From Lads


  • #28
    zimmermania
    Registered Users Posts: 4,680 ✭✭✭zimmermania


    I am surprised that there is confusion about this bet,it appears quite simple to me.If it was a real(paid on)bet the punter would win 50 i.e 25 @3 to 1 returns a 100, a profit of 50 to the punter.It is well established and should be understood that a free bet usually means that the punter receives the profit and thats exactly what happened in this case.The punter won exactly the same amount as if it were a normal bet.Iam not a fan of Ladbrokes,i prefer PP,but in this case Ladbrokes were correct and applied the normal conditions that go with free bets.


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