F1 YOU BET 2016 - The Game

Greenlantern101

Super Hero And All Round Good Guy
Contributor
Spread sheet has been updated with more automation, so I have less to do and there should also be less cockups as well. Famous last words. Only took me 4 hours... doesn't time fly when you are having fun LOL

We need more players, sign up people it's fun honest.
 

FB

Not my cup of cake
Valued Member
Greenlantern101 at nearly 50 years of age I have no idea how gambling works so I would be just putting down the names of drivers randomly without the vaguest clue whether there was any chance I might win or lose.
 

F1Brits_90

Race Winner
Im ready to have another go. Just deliberating for whether to go for Hamilton/vettel or a risky each way (can you just remind me if its 2nd or 3rd was ew) punt on kimi, riccardio or hulkenburg :D:thinking:
 
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jez101

Bookies drive nice cars because of people like me
Contributor
I would like to bet 20 units of currency on the remote possibility that the Williams of Felipe Massa will finish on the podium.

:goodday:
 

Greenlantern101

Super Hero And All Round Good Guy
Contributor
F1Brits_90 each way brings home the bacon if your driver places 1st 2nd or 3rd, but at only a 1/3rd the odds. Read rule 3 it explains in more detail :)
 

Greenlantern101

Super Hero And All Round Good Guy
Contributor
Thats a decent turn out now, 12 players placed a bet and just waiting for soccerman17 and F1Brits_90 bets which could take us up to 14 players. Nice.

Anyone else fancy playing?

EDIT: AND ME. I forgot little me. 15 players.
 
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racecub

Champion Elect
Oh why haven't I seen this game before????? This looks brill!
Can I just check how much money you place the first time you bet? Is it up to the individual or is there a limit?
 

Greenlantern101

Super Hero And All Round Good Guy
Contributor
racecub you get £210 if you place your bet before the first race. How much of that money you use at any one time is up to you. Just remember it's a long season.
 

Greenlantern101

Super Hero And All Round Good Guy
Contributor
Having now entered everyones bets into the spread sheet I am slightly concerned that some people don't quite understand the implications of betting each way on a runner with poor odds. With odds of 3 to 1, if your driver comes in just 2nd or 3rd you will only break even. If the odds are poorer than this say 2 to 1 then you would loose money overall if your driver was 2nd or 3rd. However this could also be looked on as damage limitation, which may be how some of you are treating this. To try and make things clear for those unsure I have added some examples below.

People that currently have each way bets on poorer than 3-1 odds are mjo Titch Slyboogy Fenderman

Some examples.

Example 1: Odds over 3-1
A £10 each-way bet on a 10-1 selection in a race and paying 1⁄3 the odds for a place 1, 2, or 3 would cost £20.
  • Returns on the win part of the bet would be £10 × (10/1) + stake = £110
  • Returns on the place part of the bet would be £10 × ((10/1) × (1/3)) + stake = £43.33
  • Total returns would be £110 + £43.33 = £153.33 if the driver won the race, but just £43.33 if the driver only finished second or third.
Example 2: Odds of 3-1
A £10 each-way bet on a 3-1 selection in a race and paying 1⁄3 the odds for a place 1, 2, or 3 would cost £20.
  • Returns on the win part of the bet would be £10 × (3/1) + stake = £40
  • Returns on the place part of the bet would be £10 × ((3/1) × (1/3)) + stake = £20
  • Total returns would be £40 + £20 = £60 if the driver won the race, but just £20 if the driver only finished second or third, meaning you would break even.
Example 3: Odds of less the 3-1
A £10 each-way bet on a 2-1 selection in a race and paying 1⁄3 the odds for a place 1, 2, or 3 would cost £20.
  • Returns on the win part of the bet would be £10 × (2/1) + stake = £30
  • Returns on the place part of the bet would be £10 × ((2/1) × (1/3)) + stake = £16.66
  • Total returns would be £30 + £16.66 = £46.66 if the driver won the race, but just £16.66 if the driver only finished second or third, meaning you would be down £3.34 form your initial stake money.

If anyone wants to change their bet you can do so right up to the deadline midnight Thursday.
 
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