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From the RP site
“A Betfair customer cashed out a Lucky 31 and five-fold accumulator before the final leg which won and would have paid out £425,000.
After four winners the customer decided not to put his faith in the 15-8 favourite Credrojava in the 5.05 at Aintree, and cashed out, guaranteeing a payout of just under £58,000.
Credrojava then won the mares’ bumper by half a length for Harry Fry, holding off the challenge of Ruby Island.
The customer staked £67 on runners at Aintree and Ffos Las. He was on 16-1 Old Roan Chase winner Riders Onthe Storm and also won with Honor Grey (9-1) and Dingo Dollar (12-1) at Aintree as well as 7-2 chance Spring Meadow at Ffos Las.
The payout was £21,756 from the Lucky 31 and £36,212 from the accumulator.
Betfair’s Barry Orr said: “The customer elected to cash out and bank nearly £58k for his £67 bet. I’m sure it wasn’t an easy decision to make and he obviously had mixed emotions having seen the last leg win but I imagine there are very few people who wouldn’t have banked the cash.
“His selections were inspired and the second leg, Dingo Dollar, traded at 251-1 in running on the Betfair Exchange but managed to get the job done. Good luck to him.”
Why would you take the 58k if a 15/8 chance could bring you 7.5 times more?
I just don’t understand why punters do these multiples if they’re going to cash out early?
The cash-out figure is always a rip off deal so, if you don’t want to let it roll, why do a multiple to win the six figures?
Do one for five figures instead.
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It's the "Millwall FC" of Point broadcasts: "No One Likes Us - We Don't Care"Exactly, Ian. You should do your bets on separate slips: the trebles on one, the four-folds on another one and the accumulator on the third one. It’s easier to figure out where you stand after each leg has run and you don’t get an “aggregate” cashout which might be just around the guaranteed payout before the final leg goes to post.
I’m quite sure this bloke was just offered the winnings after the first four won rather than a real cashout.
It happens all the time.
There is zero point in doing a multiple to net half a million if you’re going to bottle it at say 100 grand and cash out and take 50 grand or whatever they rip you off with.
Back horses to win amounts you’re comfortable to let ride, or put fewer horses in to win less.
Simple as.
I am "The Horse Racing Punter" on Facebook
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It's the "Millwall FC" of Point broadcasts: "No One Likes Us - We Don't Care"Come on lads.
We can all sit here and give it the big licks about how we’ve all got balls like watermelons and would unquestionably let it ride.
But if we’re in the financial situation 90% of the country is I.e 2 or 3 pay cheques or less away from being in true financial hardship then you’re probably gonna cash out. At least partially.
I thought he was quite shrewd when looking at his selections.
He went for Dingo Dollar, who hadn’t won for 18 months. Riders Onthe Storm without a win since Feb 2020, picked the right one from the Twister, went for the improving Honor Grey and also picked the Bumper winner which was 4/1 in the RP and came from an in-form stable.
But, sadly his math skills failed him big time……..
“then you’re probably gonna cash out. At least partially.”
Honestly, hand on heart, no.
I’m not going to do a multiple to win that kind of money in the first place.
I do the maths and do bets that, if successful, have running up money I’m comfortable with.
If he simply leaves the last leg out, he gets the bet up and walks away with six figures.
It’s not about being brave – it’s about using a calculator before you bet.
I am "The Horse Racing Punter" on Facebook
https://mobile.twitter.com/Ian_Davies_
https://www.facebook.com/ThePointtoPointNHandFlatracingpunter/
It's the "Millwall FC" of Point broadcasts: "No One Likes Us - We Don't Care"Probably looked at it as sods law my luck will run out on the final race and decided £58k is £58k more than he started the day with.
Can’t blame him really and not a bad return for a £67 outlay especially considering the current climate with the cost of living going through the roof.
‘Why would you take the 58k if a 15/8 chance could bring you 7.5 times more?’
The alternative way of looking at it is that he had about a two thirds chance of losing.
In all honesty I don’t know what I’d do, might have taken half and let the rest go perhaps. But we don’t know his situation, maybe 58k wipes out his debts and he can live a nice comfortable life now. It certainly beats working for the same amount of money.
See it all the time on twitter. Not for 58k but on the football people doing an ACCA with the 3pm Saturday kick offs winning and asking “what should I do” ?? Before the evening kick off
Blackbeard to conquer the World
Easy to say let it ride, but I think I might well have done the same as he did.
I don’t do these sort of bets anyway, hard enough to find one winner let alone five!
I've stumbled on the side of twelve misty mountains
I've walked and I crawled on six crooked highwaysTo make the numbers work it had to be something like a £1 EW Lucky 31 and £5 extra on the acca. In that case he was guaranteed over £10k anyway. A sensible option might have been to cash out the acca and let the Lucky 31 ride.
It’s a myth multiples are just for mug punters.
In a modern world where you get restricted just for winning a few hundred quid, many serious punters like to try to go out in glory with that big hit.
I always go for full cover multiples (all the doubles, trebles, etc, not just the acca) and have done the singles to much larger stake sizes too so, if it comes down to the last leg or two, I’ve already got a decent amount coming anyway so can afford to let it ride.
I just don’t see the point of doing a bet which, if succeeding, you’re going to bottle at the business end and accept a much lower cash-out payment than if you’d just done the bet to end there anyway.
I am "The Horse Racing Punter" on Facebook
https://mobile.twitter.com/Ian_Davies_
https://www.facebook.com/ThePointtoPointNHandFlatracingpunter/
It's the "Millwall FC" of Point broadcasts: "No One Likes Us - We Don't Care"‘I just don’t see the point of doing a bet which, if succeeding, you’re going to bottle at the business end and accept a much lower cash-out payment than if you’d just done the bet to end there anyway.’
I see your point but I don’t think many people really think about it too much. Those half million potential returns are fantasy figures like a lottery jackpot. They don’t think about the fact that if all five are to win, you will at one point be sat on four winners. Yes, you put a bet on to win but deep down people don’t really expect to hit that massive multiple.
However if you are the type to consider the cash out, maybe you should think about what you’d do beforehand. He’d likely have been quite time pressured to make a decision and not necessarily thinking clearly.
The bet was a Lucky 31 and he had £2 on 5 singles, 10 doubles, 10 trebles, 5 four-folds and 1 accumulator. He also had an additional £5 on the five horse accumulator as well.
That bet alone stood at £ 49,725 after the first four won.
He had guaranteed £89 from the singles, £1,402 from the doubles, £9,109 from his trebles and £19,890 from the first four-fold. Which means £30,490 were his ONLY FROM THE LUCKY 31 BET.
He took 58k instead of the 425k, which means he backed the last horse to lose at odds of roughly 1-14. The bookies saved themselves 395k by offering him 27.5k…….. Which he took.
He would also have been better off laying the last leg as heavily as he could at Betfair Exchange at circa 2/1.
He accepted a shocking deal tbh.
I am "The Horse Racing Punter" on Facebook
https://mobile.twitter.com/Ian_Davies_
https://www.facebook.com/ThePointtoPointNHandFlatracingpunter/
It's the "Millwall FC" of Point broadcasts: "No One Likes Us - We Don't Care"Personally if it was me, I’d look to see if I could afford to lose the stake first, as I treat all bets as lost. Any winnings is counted as a bonus. Should I be in the same situation as the person the article about then I’d let it ride, after all he’s still approximately £21k in the worst case scenario.
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