matt
5/2 ew returns 1.5, its an hedge against going broke
Believe me bookies hate those bets
so backing a horse so that if it doesnt win you make a loss and they make a profit - bookies would hate those bets how?
Bookies want you to lose the full amount..not for you to get 50% of your stake back. If you bet for larger amounts there is definitely something to be said for this way of betting. I know loads of successful people that do.
nope as manager of a betting shop i was quite happy to take any bet where the payout was less than the original stake - the more of those i got then the more money we make. Granted yes if the horse doesn't win but finished in a place then the punter "would live to fight another day" but i've still made a profit.
If the bet was that big i could even lay some of it off on the nose because if it wins i pay out less by winning some myself, if it places then i have to pay out the punter but still make a profit and if it doesn't place then i'm quids in
Matt, sorry but you are very wrong.
If I walked into a betting shop and asked for £5000 each way the 5/2 shot in the race above. There is absolutely zero chance the bookmaker would take it.
£200 each way I would have a chance of getting on, £500 each way or more no way.
In the long run the bookmaker is going to lose alot of money laying bets like this.
You want me to prove it? I will start a good each way bets thread with a bank of £1000, I guarantee at the end of the year it will make money.
I'm going back 15 years but would take any bet less than £1000 without any questions (was independant bookmaker not high street name) - if bet was between £500-£1000 would be straight on to boss to give him bet and then up to him if he wanted to look at laying it off
anything over £1000 then i used to ring him and it was up to him if he took it or not - i did take big bets occasionally but never people wanting to put a grand each way on a 5/2 shot
Just like poker, the betting game has changed too.
Pricewise was going 15 years ago (I think), but Betfair wasn't.
Value wasn't such a key factor in most punters bets, people tended to back what they thought would win.
Nowadays, punters are much more clued up and bookmakers are much more wary of them.
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