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We’ve just come back from a pleasant afternoon at Uttoxeter, but were surprised to find that the ew odds only seemed to be 1/5th or 1/6th. As it appeared to be an afternoon of short priced winning favourites we didn’t even attempt to have an ew on a few outsiders at these odds. Is it usual these days to not have 1/4 the odds on ew bets?
Since the introduction of the new Gaming Act (Oct 2007) On-Course Bookmakers may offer whatever place terms, if any, they like. The only requirement for doing so is that the terms be clearly displayed.
One or two were offering a 1/6th the odds at Towcester on Wednesday in the mares novice hurdle.
Not only is this 1/5 and 1/6 a con it’s a bout time all the bookies started giving 5 places for races such as the grand national.
Charles Darwin to conquer the World
Although these odds were displayed, I wouldn’t say that it was blindingly obvious. I know the bookies won’t exactly be quaking in their boots at the thought of losing my usual £1 ew bets, but it did stop me betting completely, and from now on I shall use the tote [which we always do at Cheltenham anyway].
Unless the race was a handicap, or only had 5, 6 or 7 participants, then any each-way bets would have been settled at 1/5 the odds. As for bets settled at 1/6 the odds I can only assume there was an odds-on favourite…?
….but it did stop me betting completely, and from now on I shall use the tote
You’ll probably get worse value ~ in effect, the bookmakers who offer 1/5th the odds in handicaps tend to be those who are most competitive in the win market, and are therefore unable to offer 1/4 the odds without cutting their own throats. Every time I’ve bet with such a firm, they’ve reminded me of the place terms before accepting the bet.
Started seeing 1/5 odds on 16+ handicaps at Doncaster St Leger last year and it seems to have spread since then. Not seen 1/6 odds yet!
It really annoys me. Many people have no idea how this works and are being ripped off.
It really annoys me. Many people have no idea how this works and are being ripped off.
Again, I disagree ~ this move allows the on course layers to be more competitive, not less so, and bookmakers boards have the each way terms clearly published.
It begs the question how much longer off-course bookmakers will take each way bets in the traditional manner. Although I’m happy to take advantage, it is unsustainable practice that they will lay prices created by an on course market that produces them to serve a different agenda.
My pet hate is when you have a 10 – 14 runner race with a very short priced favourite and the bookmakers almost all go win only.
I remember one such race at Worcester a couple of years ago, it was 13 runner race with around 4/5 the favourite and 8/1 bar and not a single on course layer was offering each way terms. I had to revert to the Tote in the end.
Started seeing 1/5 odds on 16+ handicaps at Doncaster St Leger last year and it seems to have spread since then. Not seen 1/6 odds yet!
It really annoys me. Many people have no idea how this works and are being ripped off.
taunton races have had 1/6 odds for most of the jump season if i remember rightly.
Charles Darwin to conquer the World
It really annoys me. Many people have no idea how this works and are being ripped off.
Again, I disagree ~ this move allows the on course layers to be more competitive, not less so, and bookmakers boards have the each way terms clearly published.
Rory, explain to me how offering a smaller fraction (than 1/4) is more competitive?
Some are clearly marked, others (especially the older boards rather than electronic boards) are less so. However clear, a lot of casual punters don’t understand, or assume they are all the same, and in my opinion are being taken for a ride.
As explained above aji, the books are competitive by offering better win prices (ie a small overround on the win book); the firms who price like this are offering punters value in the win book but simply cannot afford to offer 1/4 the odds as their place book would be badly overbroke. They have a choice of offering win only or altering their place terms to enable them to bet each way. The bookmakers are actually offering greater choice to the punter at large and are most definitely not taking punters for a ride. I suppose a betting ring where all bookies offered 1/5th or 1/6th odds a place without being competitive in the win market would be extremely negative but my experience is that punters have a choice at most tracks ~ 12/1 @ 1/4 odds or 14/1 @ 1/5 odds for example.
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