You BET 2014 - The Game.
- Thread starter Greenlantern101
- Start date
Just out of interest whats the bookies response if the race doesn't go ahead?
Results for the Japanese GP. Lewis taking the win.
Money in the bank for Greenlantern101 rufus_mcdufus tonyw151 Fenderman
We loose Josh with his all or nothing gamble not paying off.
For Sochi I have (at last) implemented each way betting. It has been a learning experience not just in betting maths but in excel formulas
. Anyway it is all automated all I do is enter the finishing position and the bets are worked out automatically.
So for Sochi we are betting on the WINNER.
So I should do an example of each way betting so we have a clear understanding.
If you place a £10 bet to win then It costs you £10 and you only get a payout if your man wins.
If you place a £10 bet each way it is effectively placing 2 bets, the first is £10 to win and the 2nd bet is £10 to place 1st 2nd or 3rd. The odds for the 'place' bet are 1/3rd of the 'win' bet.
So an each way bet of £10 would cost you £20. If your driver won at 6/1 odds you would win £60 for the win plus £20 for placing each way, totalling £80 and you get both £10 stakes back. So £80 profit.
If your driver finished 2nd or 3rd you would only win £20 from your 'place' bet and you would not get your £10 'win' stake back only the £10 'place' stake back. So £10 profit.
So if the Odds are less than 3/1 and your driver finishes 2nd or 3rd in your each way bet you will still loose money overall, not as much but some. Each way bets are best used at odds over 3/1. Other wise its generally accepted going for the win makes better sense. But really its up to the punter, just be sure you understand the payback you would be due.
http://en.wikipedia.org/wiki/Each-way_(bet)
I hope that's clear. If not just bet on a win.
The odds for the WINNER at Sochi.
Kamui-FastestChefInTheWorld I need a bet from you or rule 6 applies.
Money in the bank for Greenlantern101 rufus_mcdufus tonyw151 Fenderman
We loose Josh with his all or nothing gamble not paying off.
For Sochi I have (at last) implemented each way betting. It has been a learning experience not just in betting maths but in excel formulas
. Anyway it is all automated all I do is enter the finishing position and the bets are worked out automatically.So for Sochi we are betting on the WINNER.
So I should do an example of each way betting so we have a clear understanding.
If you place a £10 bet to win then It costs you £10 and you only get a payout if your man wins.
If you place a £10 bet each way it is effectively placing 2 bets, the first is £10 to win and the 2nd bet is £10 to place 1st 2nd or 3rd. The odds for the 'place' bet are 1/3rd of the 'win' bet.
So an each way bet of £10 would cost you £20. If your driver won at 6/1 odds you would win £60 for the win plus £20 for placing each way, totalling £80 and you get both £10 stakes back. So £80 profit.
If your driver finished 2nd or 3rd you would only win £20 from your 'place' bet and you would not get your £10 'win' stake back only the £10 'place' stake back. So £10 profit.
So if the Odds are less than 3/1 and your driver finishes 2nd or 3rd in your each way bet you will still loose money overall, not as much but some. Each way bets are best used at odds over 3/1. Other wise its generally accepted going for the win makes better sense. But really its up to the punter, just be sure you understand the payback you would be due.
http://en.wikipedia.org/wiki/Each-way_(bet)
I hope that's clear. If not just bet on a win.
The odds for the WINNER at Sochi.
Kamui-FastestChefInTheWorld I need a bet from you or rule 6 applies.
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Sochi LH £30 to WIN @4/6
Fenderman
Rooters Reporter
Grateful for the extra dosh Greenlantern101 but I only placed £50 on Lewis for Japan 
Kamui-FastestChefInTheWorld
Points Scorer
£28.44 eachway on Rosberg please
soccerman17
Race Winner
$20 eachway on Ricciardo
rufus_mcdufus
Champion Elect
£40 on LH to win at 4/6 please.
Yeah thanks for that Alonso you lost me 80 sovs...
25 green on Vettel, win please
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So a Ricciardo, Vettel, Massa podium judging by the bets. Should be an interesting race. 
Here are the results from Sochi.
And with just 3 races to go here are the odds for USA where we are betting on the winner with eachway bets available.
I need a bet from RasputinLives or rule 6 will see you betting on Chilton.
And with just 3 races to go here are the odds for USA where we are betting on the winner with eachway bets available.
I need a bet from RasputinLives or rule 6 will see you betting on Chilton.
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USA Lewis Hamilton, £30 eachway, 4/6 odds.
