EACH WAY TERMS MAJORS BOOKMAKERS SCANDAL

Making a fortune how?

PAying a fifth the odds on 5 winners feels like it should be the same cost as paying a quarter the odds on four winners (though I'd have to work the numbers out, being it's a quarter or fifth of the fractional odds, not the decimal ones).

And not illegal.   As long as they tell you the EW terms they can offer anything they like.

Five fifths and four quarters are both equal
Percentagewise

I though every horse that is placed they are making fottunes I had 100 each way at 10/1 I lost £50 everyone loses unless you finish 5th you used to get the extra place free offer not now it is making millions in my opioun

they gave your money to the people who backed the fifth horse, they aren't making anything extra.  If you want the standard terms just write them on your slip or look for an online bookie that uses them.

16 runner hcp pays first 4
They withdraw a 9/1 shot
So firstly you get a 10p rule 4 then they only pay first three.
So say you back two horses they come 3rd & 4th you lose 10% of your place money on the third & you get no return on the 4th.
A fairer way  should pay place on both horses but take 10% from each.
In essence you are penalised twice for a non runner in this scenario.
My argument is the book has been made up for those 16 runners, to say you should lose 10% & the 4th place just shows how place terms are completely in the bookies favour.

Assume for a moment bookies were working to a zero% (ha Ha)
In a 16 runner Hcap all things being equal
You'd get 15/1 the field
The field EW would return £36 for a £32 outlay
The £4 profit would come from the over generous place terms

An interesting anomaly from the 1980's was that it was 3/1 chances that you should bet each way, and 16/1 chances that you should bet win only. No idea if it is still the case.