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I see Betfair are planning to change the way that their Place Markets are settled with a trial run for the Aintree meeting next week with a view to bringing them into line with the High Street.
The 2 main changes are
1. In the event of a NR reducing the field from 8 to 7 or 16 to 15, then the place terms will also reduce from 3 to 2 and from 4 to 3 respectively. However if you have already placed a place bet before the NR then the terms at the time of the bet still stand.
2. In certain "big-betting" races such as the National, and other big Saturday handicaps, Betfair propose to introduce 5-place betting instead of the more usual 4-places.
The change in policy has come from several requests from traders who are have lost out where they have backed a horse each-way on the high street and then layed the horse in the place market and then when the horse is 3rd they are losing out twice.
See Betfair forum for further info
I don’t seem to be able to post a link – sorry.
David , possibly because they are about to accept bets on multiples, accums etc , so they need to trim liability wherever possible
cynical view perhaps
but maybe not far off the mark
Ricky
- Total Posts 17716
Not surprised at this David. When there was very little racing taking place there were so may non runners on the all weather place betting was like a licence to print money.
10 horses races became 5 horse races and although odds between 1.21 to 1.32 on 3 horses in the same race were commonplace but 800 quid @ 1.32 still picked you up 240+ quid with very little risk.
Who lays these things is beyond me but it’s crazy when you can have 5 runners and get paid on the first 3 so change is inevitible and there was a spate of those during the cold spell.
These races are hopeless for attracting small punters and Betfair’s turnover must be affected badly when they come up.
As much as I hate to see them go they will.
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