Forums

Horse Racing

Welcome to Live View – Take the tour to learn more
Start Tour
There is currently 1 person viewing this thread.
Andrew in Sweden
26 Jan 13 16:27
Joined:
Date Joined: 10 Nov 07
| Topic/replies: 4,446 | Blogger: Andrew in Sweden's blog
Definitely favours the layers.

I had a good 'few bob' (various bets) on Sprinter Sacre last night and again this morning at odds of 1.23 and 1.24. Settled at 1.17 ! A fair chunk considering WW was 20's on here at the time of withdrawl. It would have been better with high street bookies.
Share |
Pause Switch to Standard View Betfair Reduction Factor for Non-Runners
Show More
Loading...
Report go-all-in January 26, 2013 6:38 PM GMT
Yeah I always find the reduction factor seems worse than the rule 4 at bookies. Haven't really looked into how it's worked out though, I'm sure someone else will know more than me
Report onlooker January 26, 2013 7:12 PM GMT
It's worse because - on Betfair, the DEDUCTION is from your STAKE aswell as your Winnings.
Report Andrew in Sweden January 26, 2013 7:16 PM GMT
Onlooker, I wasn't aware of that, surely that's not legal ?
Report racingstar January 26, 2013 7:22 PM GMT
For those that have been living on another Planet:
The RF favours Layers and always has done.
Equally,the Bookmakers Rule 4 favours the Punter.
Make your own  minds up on how to act.
Report Andrew in Sweden January 26, 2013 7:33 PM GMT
Racingstar, you're correct, but in my case, for me to bet with bookies, I have to walk a long way Wink as I don't have accounts of any sort.

I was in UK last week hoping to watch SS, but snow put paid to that. I couldn't come over this weekend due to other committments.
Report RichWill January 26, 2013 7:41 PM GMT
I could prove to you that in the long run the Betfair RF favours the backers but I can't be arsed.  Think of all the outsiders withdrawn week in week out without RF's in a 100% book.
Report racingstar January 26, 2013 7:49 PM GMT
Rich,Feel free to "educate" me !
Report Andrew in Sweden January 26, 2013 7:50 PM GMT
RichWill, I very much doubt that applies to favourites
Report racingstar January 26, 2013 7:57 PM GMT
The Bookmakers Rule 4 Deductions are fundamentally flawed (they were created before Exchanges existed).
Report Andrew in Sweden January 26, 2013 8:51 PM GMT
Bookmakers R4 deductions are much fairer; Betfairs application of the reduction factor is fundamentally flawed (big time).

In the case of Williams Wishes being the NR, the reduction factor on winnings for Sprinter Sacre must have been around 23% (5% with bookmakers), for a horse that was 4th ranked in the betting and priced at almost 20 on here.

How the Reductions are applied for Exchange markets
In the win market, reductions will be made on the traded price.
For example: if the non-runner's final reduction factor is 25% the traded price on all previously matched bets on other horses will be reduced by 25% - traded price of 8.0 would become 6.0 etc. And these might be further reduced if another horse is subsequently declared a non-runner.
In the place market, reductions will be made to the potential winnings on the bet only, and not the traded price.
For example: if the non-runner's final reduction factor is 25% the potential winnings on all previously matched bets on the other horses will be reduced by 25% - a traded price of 8.0 would become 6.25. For example a £10 bet on a horse to be placed at a traded price of 8.0 would provide winnings of £70. If there is a non-runner with a reduction factor of 25% in the race, that factor will be applied to the £70 of potential winnings leaving potential winnings of £52.50. Therefore the revised traded price will be 6.25.
The traded price may be further reduced if any other horse(s) is subsequently declared a non-runner, however odds cannot be reduced below 1.01.
Reserves: A reserve runner may appear in the relevant markets but will have a non-applicable reduction factor until Betfair has received confirmation that it is a confirmed runner, in which case an applicable reduction factor may apply to it.
For the avoidance of doubt, any reduction factor applicable to a non-runner replaced by a reserve, will be applied to all bets struck on the relevant markets, prior to the removal from those markets of such non-runner by Betfair. Likewise, should a reserve runner become a confirmed runner but subsequently become a non-runner, any reduction factor applicable to such non-runner will be applied to all bets struck on the relevant markets, prior to the removal from those markets of such non-runner by Betfair.
Report homefortea January 26, 2013 9:12 PM GMT
Andrew in Sweden 26 Jan 13 19:33 Joined: 10 Nov 07 | Topic/replies: 2,108 | Blogger: Andrew in Sweden's blog
Racingstar, you're correct, but in my case, for me to bet with bookies, I have to walk a long way  as I don't have accounts of any sort.

I was in UK last week hoping to watch SS, but snow put paid to that. I couldn't come over this weekend due to other committments.

You won't do yourselves any favours on here if you are from the Far Right...Shocked
Report RichWill January 26, 2013 9:21 PM GMT
I've been laying books on the win and place markets here for almost 10 years and the thing I fear most (especially on the place market) is non runners.  With the weather we've had for the past 9 months its been a nightmare and I put my prices up much later than I used to.  If the RF's are so much in favour of the layers why don't you lot lay the the field first thing in the morning and watch the money roll in when the inevitable NR's come?
Post Your Reply
<CTRL+Enter> to submit
Please login to post a reply.

Wonder

Instance ID: 13539
www.betfair.com

New to Betfair?

You need to open an account before you can add content to the forum.

Opening an account only takes a few minutes.

register now