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Mayor
Admin Group Joined: 15 Feb 2007 Location: Australia Status: Online Points: 3389 |
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Posted: 31 Mar 2019 at 6:04am |
Forgive my dumb question but..
Does anyone know how the corporates work out the place odds? Is it around 25% of the win odds or is there a separate place pool? If the latter, why does it usually work out to be around 25% of the win odds? In the old days (pre-digital), I'd walk up to the bookmaker in the ring and get 25% odds for the place. I notice my lucky longshot selection Red Alto started at $81 Fixed Odds on BetEasy but only $13 the place... which corresponds to only $52 the win (x4). For running third, it paid $17.70 How does this all work? |
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Mayor
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maccamax
Champion Joined: 18 Jun 2010 Status: Offline Points: 41473 |
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They don't pay the 25% as they did in the good old days .
I think it's Tote odds now. |
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Passing Through
Champion Joined: 09 Jan 2013 Location: At home Status: Offline Points: 79532 |
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I think they are just treated as separate markets now. I used to be a place only bettor when it was just calculated as a quarter win odds with on-course or SP bookies. As far back as the 70's they started going to one fifth with dedicated on-course place bookies. Now it is one quarter fixed on pre markets but only on each way bets. If they offer fixed pre betting it is mostly one fifth but separately calculated place on race day markets.
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Mayor
Admin Group Joined: 15 Feb 2007 Location: Australia Status: Online Points: 3389 |
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OK that makes sense, cheers.
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Mayor
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oneonesit
Champion Joined: 06 Aug 2012 Status: Offline Points: 37212 |
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When you mentioned "pool" in your first post Mayor you do realise there isn't one in Fixed Odds. Only tote betting where the formula is simple - the total investment minus the rake (for that bet type) divided by the number of $ unitsinvested on the winning selection (& dividend then rounded down)
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