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26 Apr 12
21:29
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Date Joined:
30 Aug 10
Apologies as I'm sure this has been covered elsewhere but I cldn't find a thread
Old dear had little bet on Prince Bob at Punchestwon 7.15 yesterday at 50s...
Billies took SEVENTY Pence in the pound (according to their results page) on this race for non-runners
Questions:
IS 70p in pound for early prices correct?
IS this settling correct? Assuming 70p R4 correct it looked like they'd OVERpaid ???
£3EW on Prince Bob - took 50/1 at 3.20pm
Returned 16/1
Paid £12.60
Cheers in advance for help - she was expecting £33 quid for 3rd place and is gutted
1st 10
Runner Silk Flash Of Genius 9 Mullins, Mr P W Mullins, W
11/4
(F) 3.00 1.80
2nd 15
Runner Silk Ok Oscar Motherway, Mr C Mullins, T
10/1 - 2.20
3rd 17
Runner Silk Prince Bob Walsh, Mr B O Jordan, B
16/1 - 3.90
Forecast dividend: £34.02
1st Favourite
Flash Of Genius
2nd Favourite
Los Amigos
Non runners:
Dancers Dilemma N/R
Dunmoe N/R
Kaki De La Pree N/R
Kilavalley N/R
Operating N/R
Clara Bel La N/R
Rule 4 deductions
Win - 70p reductions on bets placed between 00:00:00 and 15:53:08
Old dear had little bet on Prince Bob at Punchestwon 7.15 yesterday at 50s...
Billies took SEVENTY Pence in the pound (according to their results page) on this race for non-runners
Questions:
IS 70p in pound for early prices correct?
IS this settling correct? Assuming 70p R4 correct it looked like they'd OVERpaid ???
£3EW on Prince Bob - took 50/1 at 3.20pm
Returned 16/1
Paid £12.60
Cheers in advance for help - she was expecting £33 quid for 3rd place and is gutted
1st 10
Runner Silk Flash Of Genius 9 Mullins, Mr P W Mullins, W
11/4
(F) 3.00 1.80
2nd 15
Runner Silk Ok Oscar Motherway, Mr C Mullins, T
10/1 - 2.20
3rd 17
Runner Silk Prince Bob Walsh, Mr B O Jordan, B
16/1 - 3.90
Forecast dividend: £34.02
1st Favourite
Flash Of Genius
2nd Favourite
Los Amigos
Non runners:
Dancers Dilemma N/R
Dunmoe N/R
Kaki De La Pree N/R
Kilavalley N/R
Operating N/R
Clara Bel La N/R
Rule 4 deductions
Win - 70p reductions on bets placed between 00:00:00 and 15:53:08
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Replies: 9
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12.60 is correct.
£3ew@50-1 placed 3rd 5th of the odds 10-1 £33 Deduction 70 p in the pound -21.40 Returns 12.60 |
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I make it £12. Don't see how you get to £12.40
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think your wrong there, r4 would be on £30 ie £21 = 9 +3 = £12
so think it must have been b.o.g. 16/1 @ 1/5 = £12.60 |
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50 divided by 5(place odds) multiplied by .3 plus 1 equals 4. Times £3 equals £12.
BOG..16 divided by 5(place odds) plus 1 equals 4.2. Times £3 equals £12.60. The plus one is your stake. The Rule 4 deduction on a calculator is 1 minus the deduction.ie if it is 20p multiply by .8 30p multiply by .7 etc. Clear as mud.I have trained many Cashiers in the past although not many have understood the Rule 4 !! |
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If you don't understand how rule 4 works, do it the way it says on the tin
Rule 4 stoppages are stopped on winnings only , not on your stake So work out the return for the whole bet 11 x 3 = 33.00 Subtract the stake = 3.00 Which leaves you 30.00 profit Subtract 70% of the profit = 21.00 you get the 30% = 9.00 plus your stake back = 3.00 £12 Long winded, but easy to see how it works |
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homefortea
26 Apr 12 22:27 Clear as mud.I have trained many Cashiers in the past although not many have understood the Rule 4 !! You trained cashiers how to calculate rule 4 deductions ? Why ? |
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So that pre-automatic settling I could spend more time in the pub.Plus when Night Racing came in I could have a night off.
Quite apart from the fact that it was good customer service for them to be able to explain to punters why they had reduced returns, and many became managers. Simples..... |
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Cashiers at my local bookies,if asked about the rule 4,would probably reply.
"Rule 4" ?? "What's rule 1,2 or 3"  With there feet up watching loose women and filling there face with fish & chips !!  |
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A cashiers duties
Take bets pay out make tea if under 40 - get shagged by manager if over 40 - bring in lunch for manager |