Wednesday 26 April 2017

When Betting Feels Like A Metal Bar Wrapped Around Your Neck

One subject which seems to get the goat of many gamblers is betting odds. More importantly what they consider is a fair bet at the odds. But where do you, personally, draw the line betting each-way with conventional bookmakers? 

It is an interesting subject which makes people point the finger in ridicule or anger.  Which side of the coin do you sit? 

Let's take an example. An eight-runner race, three places, one-fifth of the odds. This will get the blood boiling for a few die hards. What price makes a fair each-way bet? We know logically that 5/1 means if the horse, dog, samurai fighting fish are in the frame you win nothing but lose nothing. 


I guess that's most people's idea of an each-way bet. Ideally, the price may be much bigger. No one berates someone who takes an each-way price at 5/1 or bigger (some do because they hate anything other than a win single). They must be a fair gambler, one of your own, a balanced, egalitarian kind of person who walks about with a set of handheld weighing scales in case a punter turns up with a couple of sovereigns. You know that coin clipping was a capital punishment in the day. Those little clippings of gold add up. 

So how far would you be willing to go? I'm talking each-way betting odds not a limbo dancer with a length of bamboo on two tin cans.  

Let's say 9/2? 

No grimaces? I very much doubt that would bring a look of horror. 

Let's say 4/1?  

For a few gamblers that would be on the edge. A small loss of 0.2 if placed in the first three. 

£50 EW 4/1 (3RD) RETURN: £90  

A loss of £10 is nothing to cry about? 

But how far would you dare to go?

Some people go to 7/2. At 3/1 you may be getting as low as you want to go. 

Would you ever bet 5/2 each-way?  

It's interesting that most punters would think this is boarding on madness. However, how many times have you placed an each-way double with a couple of 5/2 shots? Both hitting the frame, you wouldn't lose a bean. 

But is this any different than betting on a 5/2f each-way?

If that drives you to distraction, what do you think of exchange bettors who are happy to bet 1.01?

In truth, the only measure is whether your betting pays. Love to hear your thoughts on this subject.