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betting on the horses

Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
put a bet on a horse, not really a betting person so dont really understand :-(

wtf1.png

put £10 eachway (£20 stake) and the horse came 2nd and william hill have only credited £18.33 to my account :-/. I might be being thick but im sure the winnings should be at least be worth more than the original stake?

anyone shed any light? :(

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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    My guess is that you got the 18.33 cause the bet was 10 on the horse to come second and 10 to come first.

    Not that I know anything about betting :)
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Might've got this wrong but I think when you bet each way, depending on the number of horses running in the race, they pay out a fraction of the odds rather than the full odds.

    I guess this is to discourage everyone from betting each way otherwise the bookies would lose a lot of money if they paid the full odds!

    I think that's how it works, but forgive me if I'm wrong, I just take the bets I don't settle them - my manager does that :thumb:
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    JsTJsT Posts: 18,268 Skive's The Limit
    Its right - have a look at http://en.wikipedia.org/wiki/Each-Way_(bet) that might explain all the numbers etc better.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    £10 each way cots £20

    £10 to win, £10 for the each way bet.


    Your horse came in 2nd so qualifies for each way but not first.

    You got 1/4 of the odds so £10 at 10/3 = £33.33333333 divide that by 4 = £8.33333333 add on the bet back £10 (not £20 as the horse didn't come first) = £18.33333333333333p

    Low odds are shit for each way. IMO they're best for 500-1 shots in the National so even if it comes 4th you'll get 125-1 :)
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Ahh thanks... shitty bet from my part then ;)

    thanks for clearing that up!
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