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prepared83
10 Jul 21 17:28
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Date Joined: 06 May 10
| Topic/replies: 5,324 | Blogger: prepared83's blog
A lot of you will be a lot older than me(no offence) but I can't recall ever seeing that.
Paddy has gone 1/6th 12 places the golf next week.
Anyone ever recall 1/6th for a market before?
Pause Switch to Standard View Each way 1/6th the odds?
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Report swiftynifty July 10, 2021 6:44 PM BST
I'd be fairly certain it's been around a fair while, certainly with e/w edge options.
Report Hayden July 10, 2021 6:50 PM BST
Around 30 years ago all the major bookmakers paid 1/8th odds a place for 8+ runners in horse racing when the fav started odds on.
Report Hayden July 10, 2021 6:53 PM BST
It probably unfair to criticise your example though prepared as the place book % at 1/6 for 12 places is probably still more favourable than a standard 1/4 odds a place for 4 or even 5 places.

It would still be regarded as a bookmaker concession.
Report prepared83 July 10, 2021 6:53 PM BST
Swifty I wasn't counting ew edge
Cheers Hayden before my time
Report prepared83 July 10, 2021 6:55 PM BST
Hayden yeah I agree, just something I haven't seen before.
Report Hayden July 10, 2021 7:09 PM BST
That said , one thing i totally disagree with is the lack of two options , bookmakers offering the concession of 1/6 for 12 places as in this case should also offer the standard place terms at 1/4 for say 4 or 5 places.

Concession should always be optional rather than enforced , although in this case for such a random sport as Golf it looks a no brainer to take the concession on offer.
Report Cauthenmeister July 10, 2021 7:23 PM BST
It was 1/6th the odds when favourites were odds on.
Report Hayden July 10, 2021 7:29 PM BST
They did go 1/8th for a fairly long period ( worked for the culprits at the time in my youth )
Report Hayden July 10, 2021 7:33 PM BST
As a comparison it was the same period that the infamous three horse race was instrumental in changing the way the f/c was calculated.

1. Venture to Cognac
2. Great Dean
Pulled up. Little Owl.
Report Regbutler July 11, 2021 8:49 AM BST
Hayden, you must be referring to the National Sporting League forecast chart that used to be on the wall of every shop?
Look down the side for the winner's price, match it up with the second's price along the top, and find the appropriate square with the dividend...
Same forecast dividend regardless of how many runners, odds on favs or whatever
Report the dealer July 11, 2021 9:00 AM BST
100% sure it was 1/6th odds if the fav was odds on.
Report geoff m July 11, 2021 10:12 AM BST
Hayden .I was a shop manager for 16 years thro 80s to mid 90s can never recall 1/8 odds when fav was odds on.
But certainly was 1/6.
Report Regbutler July 11, 2021 12:14 PM BST
I can also only recall 1/6th not 1/8th
As an addition to my earlier post, when computer sf/c first came in I remember that the shops kept the NSL chart up on the wall and you could request it on your slip
Report Brian July 11, 2021 1:09 PM BST
Sorry Hayden, but I can only remember 1/6th among the big bookies.
Report Hayden July 11, 2021 2:52 PM BST
Remember 1/6th odds very well across virtually every bookmaker , pretty sure though Ladbrokes ( for one ) had a spell at 1/8th when fav was odds on during the Little Owl period , whenever that was.

Only going from memory though but having been an e/way scoundrel all my life i'd be surprised if 1/8th didn't happen at least at Ladbrokes for a spell.

Anyway doesn't matter to the OP in the grand scheme of things.

Best of luck all  Happy
Report hulk23 July 11, 2021 6:13 PM BST
paddy won't be limiting or shutting down your a/c for betting e/w on the golf in a hurry. 

£5 on a horse at 3/1 when it's 3.95 to lay here.  you're a gonner, even if it gets beat.
Report TheGoddess July 12, 2021 5:06 PM BST
Never any golf outright bigger with the bookmakers, a fact common with 99% of all sporting outrigts.
Report skiptoomaloumacari July 12, 2021 6:55 PM BST
1/5 10 places was a licence to print money in the majors i backed virtually every player at a nice arb in the 10 places each market on here .........1/6 the odds has ruined all that........
Report Senyatta July 13, 2021 3:14 AM BST
anyone getting a bet on will only see 12 places and be telling their mates about what a great offer it is - i've already been told about it by 2 different friends.
Report slickster July 13, 2021 7:59 AM BST
It really is thoroughly disgusting. Anyone willing to take 1/6th the odds with a field of 150 odd deserves to be robbed. I don't care how many places the thieves go. No way will I be doing a bet. 1/4 the odds the 1st 6 is what it should be. Won't be happy until they have every penny. I see spoil have copied them. Can't think for themselves. Couple of match bets for me.
Report dave1357 July 13, 2021 9:09 AM BST
the field size doesn't matter with that scenario, just the books prices. If you backed every player on the book each way you would have a profit on the place market, but obviously a loss in the win market
Report Hayden July 13, 2021 10:28 AM BST
Yes , when confessing to being an e/way scoundrel it's almost entirely horse racing with some sporting outright thrown in when bookmakers keep the 1/2 odds far too long.

As Dave says though it's the percentage place book that becomes the main criteria.

Don't follow Golf at all or watch it , that said always take advantage of the free money with the extra places when the maths are right for a hedge but always sell the bet as i never want to watch it on Sunday night.
Report TheGoddess July 13, 2021 4:15 PM BST
Currently, 12 places offers excellent value to the customer in this instance.

Assuming all players can be laid at the current prices then:

For every £900 of each way bets, they will pay out £1200 on the place book (place book %ge is just over 900%) but will only pay out £529 on the win book (win book %ge is 170%).

Thus currently, for every £1800 taken, the payout will be £1729 or a margin of 4% for PP.

However, as we get closer to Thursday 6.30am, more and more prices will contract and the value for the punter will slowly ebb away and PP's margin will grow.
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