[aprilman]

To understand Betfairs’ reductions you have to take into account the amounts matched,and that Betfairs book would look very different to a bookies.
In this case Betfair would have taken a far higher percentage of the book on the favourite than a bookie would have,and also the average price matched would have been higher than the bookies.
With the favourite and only 2 non-hopers going the bookies at the course would not have offered any odds at all after the withdrawal of the 2nd favourite,hence why 1.01 was returned as that is the lowest Betfair can go.

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