Golf Forum Recap

[Stanley]

Grading re: Forum Recap

To attain consistency across posters' staking strategies, all outright plays will be assumed to be win-only unless specified otherwise and be graded on the basis of a 1 unit stake. All matchup plays will be graded to be 1 unit to win if odds-on (stake 1.25 units if odds are -125) or 1 unit staked if evens and above. For the sake of simplicity, all ties in matchup plays are graded as a push, unless otherwise specified, so please specify if the ties loses in your posted matchup play.



Outrights Leaderboard
-------------------------

No-one in profit this week, though plenty went close (Sabbatini, Glover, O'Hair)!



Matchups Leaderboard
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DerrickTulips ... 3-0; +3.00 units

JimmyTime ... 3-0; +3.00 units

sharky17 ... 2-1; +2.10 units

Whalers Rule ... 2-0; +2.00 units

CANADA MAN ... 3-1; +1.90 units

six under ... 1-0; +1.00 units

 

[lostinamerica]

Outrights Leaderboard
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Lostinamerica ... 1-4; +4.00 units [Fisher 140/1 4th]

Thanks for the gift, Stanley, but I had Oliver Fisher(T47) e.w., not Trevor.

GL

 

[Scooter777]

Originally Posted by Stanley

"Outrights Leaderboard
-------------------------

Lostinamerica ... 1-4; +4.00 units [Fisher 140/1 4th]"



I'd appreciate it if somebody could clear up my questions about how each way bets work.

PRETENDING THIS WAS THE FISHER WHO FINISHED T4:

If Lostinamerica bet the same amount on each of his 5 outright ew bets, then he lost 8 units on the 4 losers (2 units each I assume, 1 to outright win and one for the ew which I guess is 1st to 4th?), and one more unit lost on Fisher for the outright win.

Therefore I assume he lost 9 overall and in order to show the +4.00 units you credit him with, he would have won 13 units on Fisher finishing T4.

If that's correct, how was the 13 unit payout figured from the 140/1 odds?

How much would have been paid on the 2nd bet on Fisher (to finish 1st to 4th) if he'd finished 1st, 2nd, or 3rd?

Is the payout shortened if there are more than 4 players finishing 1st to 4th, as in this case?

Are ew bets always to finish 1st to 4th, or do some books offer them to finish 1st to 5th?

 

[Stanley]

Each-way bets are two bets combined into one: a win-only bet and a place-only bet (typically at 1/4 the win odds and for the first five places). In terms of the forum recap, the total amount wagered per play is 1 unit, so that means it is 0.5 units to win and 0.5 units to place.

So, for the above example, the profit would be:

(Payout on the win-only part + Payout on the place-only part) - stake

Payout on the win-only part = 0

Payout on the place-only part = (0.5 * 140/4 + 0.5) ... you get your place-only stake back as well

Total Stake = 1

Total profit = 0 + (0.5 * 140/4 + 0.5) - 1 = 17.00 units


This is the simple example, however there were four players tied for 4th place, which means that there were only two places left in the top-5 (fourth and fifth places) and four players filling them, so the payout is divided by 4/2 ...

Total profit = (0.5 * 140/4 + 0.5) * (2/4) - 1 = 8.00 units


Together with 4 units lost on four other outright plays, the net profit is 4.00 units ... if the play had been Trevor Fisher, rather than Oliver Fisher. Thanks LIA, I'll correct that now.

I hope this explanation of each-way grading helps