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How do they get away with it? Is the O/R percentage not regulated by anyone? If it is, how do they allow the urine to be extracted in such a fashion every Grand National?
BUY THE SUN
Looks like was the lowest since 2010 at least, according to the figures in that article.
I’ve long said SPs over-rounds should be standardised per number of runners so you know the margin you are betting at when betting sp.
Are they not regulated at all then Cormack? So they can basically arrange a 200% SP book if they so wish? How on earth can that be acceptable?
Totally agree with your standardisation suggestion.
BUY THE SUN
How do they get away with it?
Nobody is forcing anyone to bet
however
if I put my ladder up for sale for a grand or so
I’d be appearing on Rogue Traders and running away from Matt AllwrightBlackbeard to conquer the World
“Nobody is forcing anyone to bet”.
Well quite, but thats hardly the point. Something about these companies using a National Institution / Tradition such as The Grand National, to ramp up already enormous profit margins, is sickening to me.
BUY THE SUN
Has always been the same
you might say it is similar to summer holidays when the company’s hike the prices up
sell on demand I get told
agree with Cormack’s idea too btwBlackbeard to conquer the World
To be fair, 146% is on average only just over a 1% mark up per horse.
When an on course bookmaker’s clerk is keeping a constant profitable book… would they be able to react to bets quick enough if working to less than 1% per horse?
May be a question for our mate Simon.
Value Is EverythingTbh, and I speak as a former holder of a bookmakers’ permit, the REAL over-round is at the odds at which bets are actually struck.
But it’s hard to defend the SP margin on the Grand National – it’s the shameless annual fleecing of the once-a-year punters, the equivalent of trying to buy an ice cream on a beach on August Bank Holiday Monday and finding it’s a tenner for a small 99 for the day.
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BUY THE SUN
Ian,
What about the old big SP percentage excuse of “late office money” (from off course bookies) in to the on course market meaning on course bookmakers having to shorten those horses up without time to push others out? Does that one add up at all? Value Is EverythingJust being partly devils advocate, partly wanting to defend people who aren’t able to respond, TTC.
Value Is EverythingAye but suggesting its because they haven’t got time to adjust the book is advocating the devil a little too much! Maybe next year we will get a 100% book as they were pushing out horses not being backed and didn’t get time to shorten the well-backed ones. I’ll have to lend them my calculator watch!
BUY THE SUN
“I’ve long said SPs over-rounds should be standardised per number of runners so you know the margin you are betting at when betting sp”.
Seems a good idea, but what would your average “standardised” percentage per runner be David?
If 1% the Grand National would always be 140% anyway.
Then what about a two runner race, would that be just 102%? If so how does that work when the difference between one price and the next price up can be 2% on its own?
eg
If one horse’s fair market odds are 80% ie 1 \ 4 the biggest price a bookmaker can offer is 2 \ 9 (the very next price up) which is 81.8%.81.8 – 80 = a mark up of 1.8% for just one horse.
…And if one horse in a two horse race is thought to have a fair 80% the other horse must be thought a fair 20% (80 + 20 = 100). Therefore the biggest price a bookie can offer is 7 \ 2 (the very next price up) which is 22.2%.
22.2 – 20 = a mark up of 2.2% for the other horse.
Therefore 1.8% + 2.2% is a race mark up of 4% for a two runner race.
Could it work if always being the next price up?
ie Something thought a fair 1 \ 4 would be 2\9.
4/1 would be 7/2.
10/1 would be 9/1
14/1 would be 16/1
33/1 would be 50/1
etc.tbh I have thought this type of thing could work more for a new TOTE rather than SP.
Tote-wise 1% per horse could definitely work whatever the number of horses.
Surely it is possible in this day and age to work to 1% per runner rather than a definite percentage per race whatever the number of runners?
That way it could rival and even beat traditional bookmakers odds.Value Is Everythingthe equivalent of trying to buy an ice cream on a beach on August Bank Holiday Monday and finding it’s a tenner for a small 99 for the day.
True, mind you know you’re being fleeced in that example so perhaps ignorance is bliss. If it helps, think of that annual bookies’ windfall indirectly helping to finance the prize fund for the old Hennessy, Whitbread etc. The once a year punters are happy that the girl jockey won so don’t piss on their chips by telling them they should be annoyed they only got 11s on her horse not 18s or whatever. If they had an ew on Balko des Flos cos they liked the colours 100-1 sounds good and they have a nice profit, they’ll hardly be tamping that they should have got 200s.
I’ll expand:
What I mean is if significant office money comes in in the last couple of minutes of trade for a few horses, a bookmaker has to quickly shorten them up – otherwise will be overbroke on those horses… Therefore does the bookmaker have the time or indeed incentive to push others out when there’s just a minute or even seconds left to trade?Value Is Everything
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