Olympic Place Betting

[Ian]

DTB
You might help me out on this - I remember discussions on this topic before,
I seem to recall you saying that they paid out the full place odds no matter how many players were tied
I played a little $20 on Howell after round 2 this week at a generous looking 7/1 here are my returns
Transaction Description Amount
?1/14?1:15p Wager Won 160.00
?1/14?1:16p Wager Debit Adjustment -106.67
Amount returned being $53.33
Any comments would be appreciated

 

[DOGS THAT BARK]

Ian Have never seen anything like that before from them.Everything I have had in ties with them would have returned $160.
I remember last year Chuckie The Goat played same place wager as I and remarked he did not get full odds,yet when I checked(and posted) my ticket it paid full odds.You might send them a querry on that.If in deed they do not pay full odds this year I will have to revamp my outright stratagie.

 

[bettingmad]

DTB,
I think you must owe them a few dollars, your bet must have been overpaid. I cannot see how they could possibly pay out on full odds no matter how many places, it's just not viable.

I will watch with interest though.... if by some miraculous stroke of generosity they did pay full odds.... I will be opening an account

 

[DOGS THAT BARK]

Betting: I fear from looking at Ian's tickets they have changed this year but you can ask anyone thats been around here past 3 years that they have paid full odds on places prior.I know Stan has seen several of these tickets and believe he may have cashed some.I know that may seem strange to folks that have been accustomed to having to place win wager to get place wager,ties lose in matchups,ect but there are books out there that do not adhere to Sportingbets old motto."Our lines are unbeatable" (literally)

 

[Couchpotato]

Ian - They had place odds up after round 2? Have never seen that, maybe that is why your wager was adjusted.

 

[Stanley]

Couchpotato, those were my initial thoughts, but I checked back to ChuckyTheGoat's original post when he mentioned that the same had been made on his wager. He had Calc to show 25/1 in the PGA Championship and it was before the event started.

I can vouch that they have been paying full odds on anyone in the top-4, no matter the number. Let's hope it's not a change in policy for 2002.

 

[AussieVamp2]

Sorry guys, free lunch is over. Same rules as everywhere else now for ties on places.

 

[bettingmad]

Doh!

Feel as though I missed out on a good thing there.

Some UK bookie must have explained a bit of betting mathematics to them, or you lads took them to the cleaners too often and killed the golden goose.

 

[AussieVamp2]

Uk bookies know mathematics?

Had not heard that vicious rumour

 

[bettingmad]

Aussievamp2,
I'm afraid they do.... I spent 10 years at Coral 1984 to 1994 and during that time I had to explain to many upset punters why they would not be getting the full place returns for a player in a multiple dead heat for a place.

 

[AussieVamp2]

Yes, have come across that too.

Even from the Wiseguyus Whinus category.

 

[DOGS THAT BARK]

DRAT I hate to see that bout Oly.Surely down the line someone might want to get competative and go that route.
Bettingmad: Do UK books think this is a sporting chance.

odds E/W @ Surrey 1st 6 players
Lietzke B 11/2
Doyle A 8/1
Fleisher B 8/1
Irwin H 8/1
Nelson L 8/1
Watson T 9/1

If you take Lietzke and any other 2 in top 6 E/W and all 3 of your selections place and pay full odds but do not win.
YOU LOSE & they

 

[AussieVamp2]

Think your snowballs will need lots of sunscreen for that to happen DTB. Is mathematically silly as bm says.

 

[bettingmad]

DTB,
I think you see poorer odds by UK bookies on events that not many of them are prepared to price up. They know they will take any business on it so why be over generous! The MCC does not have the punters massing up for a bet over here... just the few shrewdies... who probably keep winning and so depress the prices. I would have to calculate the percentage on the field as a whole to comment on this particular event.
I cannot see how you lose if you have 3 placed... the worst price is 11/2 which returns 2.38 units per 1 unit each way... so if you have three placed you must show a profit of at least 2.38 for your 6 unit stake as the other minium odds are 8/1 which each return 3 units per 1 unit each way. (2.38 + 3.00 +3.00) - (6) = 2.38
It's a profit but hardly along the lines of 125/1 shots like Ian & Clive regularly obtain!

 

[DOGS THAT BARK]

You make a good point,rather than complain about the odds, should just be greatful they put the beards up at all as most are reluctant to do.