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Betfair Question

  • Thread starter Thread starter Falchoon
  • Start date Start date
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I had money on the Demons to beat the Pies today @ $6.00.

My profit on a draw came back at $3.00, yet my selection didn't win.

Is this normal? I would have expected my stake back.
 
yes if its a draw, then dead heat rules apply (ive seen dead heat rules apply for 3 way events before for horse racing in that case it would multiply by 1/3)

From what I gather if you had placed a bet of 1000 at odds of 3.00 your position would be +2000/-1000 (profit/loss) , you would get half profit 1000 and half of your stake back 500.($1500 back)

However if you placed a bet on say 1000 on the Pies at 1.20
+200/-1000, you would get half profit 100 and half of your stake back 500 (600 back)

And thirdly if you were in a +/+ situation in that game +500/+300 , you would get half of each side (250 + 150= 400 bucks back)

Hope this makes it easier but dukezz is right as well , a tie between 2 runners x 0.50, a tie between 3 runners x 1/3, a tie between 4 runners x 0.25.

Hence if you backed collingwood today at odds < $2.00, you would get less of a return than your initial stake. If you backed Melbourne today at odds > $2.00, you would get a slightly bigger return.
 

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Simple rule for deads heats or draws where there is no draw option is that your payout id half the face value of your ticket.

ie, if you have $100 @ $3.00 the ticket is worth $300. If its a draw then its worth $150.
And if you have $100 @ $1.20, the ticket is worth $120. A draw would make it worth $60.
 
Real world example:

On Betfair, I backed Collingwood to win - $100 @ $1.23

I copped a loss of $38.50. $61.50 was returned to my account. Must admit, it took me a while to work out what happened!
 

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