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Quick Question about some trends i’m looking into. Does anybody recall a tote dividend (win or place) being less that 1.10?
I was sure this was the lowest they went. Any help most appreciated, i shall reveal the fruits of my labour when I have finished my research.
Afraid not ~ the minimum return is 1.02 I believe. There did used to be a minimum return of 1.10 but unsurprisingly the Tote didn’t fancy taking a loss when long long odds on shots ran, as people would try to buy money on such rare occasions.
Thank you for that. However 1.02, or indeed anything less that 1.10 must be a pretty rare occurance.
Today alone. Standing Obligation (sp 4/6) 1.10
European Dream (sp 5/6) 1.10
Key Time (2nd 8/15) 1.10
Three today alone, does anyone recall a recent result where the place below 1.10?
That may be so, but does it ever. I mean Standing Obligation was returned at 1.30 to place. Thats good value imo for a horse who returned at 4/6.
I’m doubting it happens, but in real terms how many odds on (or indeed odds against) shots actually return at less than 1.10?
Well its kind of related. I remember working in Ladbrokes when the Tote returns were skewed; it was just on this one particular afternoon. We had a 15/8 favourite that was paying 1.10 to win on the Tote and 1.02 to place (amusing thing was the people are so dumb if they weren’t backing the favourite they still backed at SP and not the Tote despite all the Tote odds being 50% better at least). It lost, but i can’t remember if it placed or not. You are right though, the place terms are rarely less than 1.10 – I’d say they pay less than this about once a week.
Minimum Tote dividends:
Win £1.02<br>Place £1.02
In theory the dividend can be less than £1, e.g. if all money in the pool is on one horse, after the Tote takes its cut (13% on win bets??) the money left in the pool (i.e. on one horse) is less than it was to begin with.
Rarely see the minimum win payout but the minimum place dividend is more common although the only race that stands out is a maiden won by Safsoof (1/10f) at Southwell in 2004!
In one of Deep Impact’s races the Japanese Tote paid out a 1 yen dividend, such was the support for the horse.
The Tote minimum was changed from 1.10 a few years ago following punters lumping place bets on 1-8 shots in 8/9 runner races.
But I thought that it was actually briefly then cut to 1.0 until there was a hue and cry about it.
Mike
The US tote pools pay $1.1 minimum. They call it Bridge Jumping- lumping on a 1/5 shot to place as it will pay minimum $1.10.
Speaking of value on the Tote I see the Scoop6 win dividend paid more than a £2 acca again today.
The point Nick Mordin stressed was that the old minimum Tote dividend of £1 (which still applies in some places in Europe) is actually illegal.
The underlying principle being that if you can’t win, it is not a bet and therefore they cannot take your money. I’m sure someone more knowledgable would be able to quote specific legislation.
Thus, rather than risk losing potentially quite a lot of money by paying out £1.10 dividends, they introduced £1.02 payouts. Theoretically they can on occasion still lose money on this, but very seldom.
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NV<br>Doubt whether there’s any specific legislation about what a bookie is obliged to pay out, though it has long been an unwritten rule that "If you can’t win, you can’t lose".<br>I distinctly remember backing one such horse for a place a few years back at Southwell, and though it duly placed, only getting my money back.
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