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Place odds
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Joined: 15 Feb 2007
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    Posted: 31 Mar 2019 at 8:04am
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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Points: 41473 		Post Options Post Options   Thanks (0) Thanks(0)   Quote maccamax Quote  Post ReplyReply Direct Link To This Post Posted: 31 Mar 2019 at 9:07am
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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Points: 79532 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Passing Through Quote  Post ReplyReply Direct Link To This Post Posted: 31 Mar 2019 at 9:17am
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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Points: 3389 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Mayor Quote  Post ReplyReply Direct Link To This Post Posted: 31 Mar 2019 at 9:47am
OK that makes sense, cheers. 
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Points: 37181 		Post Options Post Options   Thanks (0) Thanks(0)   Quote oneonesit Quote  Post ReplyReply Direct Link To This Post Posted: 31 Mar 2019 at 10:05am
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)
Refer ALP Election Promises
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