[AusRace] Deduction farce

[Rob Waterhouse]

>From Australian Rules of Racing, Rules of Betting

 

(8) Further provided that, except in the case of a dead heat, no order must
be made the effect of which would oblige a backer to receive less than his
or her stake.

 

From: Racing <racing-bounces at ausrace.com> On Behalf Of L.B.Loveday
Sent: Tuesday, 14 May 2019 12:54 PM
To: 'AusRace Racing Discussion List' <racing at ausrace.com>
Subject: [AusRace] Deduction farce

 

 

The inequity of fixed-price deductions:

 

Kembla Grange race 1, Sportsbet's place market before the scratching of #2: 

 

 

 

#1       1.35    

 #2       1.07     

 #3       1.30    

 #4       8.00     

 #5       1.90     

 #6       3.90    

 #7      18.00    

 #8       5.50     

 

Which is a typical 359% market.

 

After the scratching of #2, Sportsbet's market, still paying 3 dividends,
was:

 

#1      1.20     0.83

#2    

 #3      1.09     0.92

#4      3.50     0.29

#5      1.35     0.74

#6      2.20     0.45

#7     10.00     0.10

#8      3.90     0.26

 

Again, a typical 359% market.

 

The deduction for the place was 27%, giving effective prices:

          

 #1       1.35    0.99

#2       1.07    

 #3       1.30    0.95

#4       8.00    5.84 

 #5       1.90    1.39 

 #6       3.90    2.85

#7      18.00   13.14 

 #8       5.50    4.02

 

Giving 364% new market, but hopefully the unfairness of 0.99 and 0.95 is
evident to all!

 

Even at the way top odds I got, 1.90 #1 and 1.50 #3, that comes down to
1.387 and 1.095.

 

Just noted that SB only deducted 24% - I got the 27% from the bookmaker I
backed with.

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