Quizzes & Puzzles27 mins ago
Betting Odds
37 Answers
Hi, can anyone explain the poor returns on the Masters golf tournament, I backed Rose at 14/1 & Mickleson at 22/1 both £2.50 Each / Way, the total return was £17.50 ???, thanks in anticipation.
Answers
14 ÷ 3 = 4.6 × 2.5 = 11.66 + your original £2.50 = 14.16 £14.16 is halved because Rose tied for seconded place. The bet is correct but you spoke to a fool online.
11:55 Wed 15th Apr 2015
It depends who you had the bet with and what odds they were offering for a place. I see here that Paddy Power was offering 1/4 of the odds a place for the first five. Your winning bet on Rose( if you'd bet here) would have been £2.50 @ 14/4(7/2) =£11.25 return.
The Mickleson bet would have been £2.50 @ 22/4(11/2) = £15.75
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The Mickleson bet would have been £2.50 @ 22/4(11/2) = £15.75
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The bet has, I would suggest, been settled incorrectly. You have been given odds of 1.832 to 1 for Rose and 3.168 to 1 for Mickleson. Neither of these makes any sense when considered against the odds of 14-1 and 22-1 that you were quoted.
As a minimum, at one fifth the win odds you should have received £23.00. This is calculated as:
£2.50 @ 14/5 = £9.50
£2.50 @ 22/5 =£13.50)
At one quarter odds you should have received £27.50. This is calculated as:
£2.50 @ 14/4 (7/2) = £11.25
£2.50 @ 22/4 (11/2) = £16.25
Both your selections were placed (they finished joint second with nobody else) so there should be no reduction in the odds.
As a minimum, at one fifth the win odds you should have received £23.00. This is calculated as:
£2.50 @ 14/5 = £9.50
£2.50 @ 22/5 =£13.50)
At one quarter odds you should have received £27.50. This is calculated as:
£2.50 @ 14/4 (7/2) = £11.25
£2.50 @ 22/4 (11/2) = £16.25
Both your selections were placed (they finished joint second with nobody else) so there should be no reduction in the odds.
I've just spent 5 minutes trying all sorts of ways to arrive at your payout figures. I've tried one third odds, I've tried cutting the odds (or stake) in half in case they have done that in error. I cannot arrive at £7.08 and £10.42 whatever I do. I would go back to Corals if I were you. I'd be interested to learn how they arrived at their figures.
Svejk has asked if your are sure that your total stake was £10. If it was and you get no satisfaction when you go back to the shop then email [email protected]
Still trying to get to the bottom of this and I think I’ve cracked it.
If Corals paid one third the odds for a place you should be entitled to £14.17 for Rose and £20.84 for Mickleson.
£2.50 @ 14/3 = £14.17
£2.50 @ 22/3 = £20.85
You received exactly half of this (bar the odd penny for “rounding”). So there are three possibilities as far as I can see:
1. Corals are paying one third odds for a place for the first two only (which would be very unusual) and they would be justified in cutting your winnings in half for each of them.
2. They are paying one third odds for a place on the first three (or more) and have mistakenly cut your odds in half.
3. As hinted by Svejk, you may have inadvertantly “understaked” your bet. If you only staked £5 instead of £10 you would only receive half the sums calculated.
Please let us know the outcome !!!
If Corals paid one third the odds for a place you should be entitled to £14.17 for Rose and £20.84 for Mickleson.
£2.50 @ 14/3 = £14.17
£2.50 @ 22/3 = £20.85
You received exactly half of this (bar the odd penny for “rounding”). So there are three possibilities as far as I can see:
1. Corals are paying one third odds for a place for the first two only (which would be very unusual) and they would be justified in cutting your winnings in half for each of them.
2. They are paying one third odds for a place on the first three (or more) and have mistakenly cut your odds in half.
3. As hinted by Svejk, you may have inadvertantly “understaked” your bet. If you only staked £5 instead of £10 you would only receive half the sums calculated.
Please let us know the outcome !!!
^^^^
Steady on, i've been called many things, but never a 'guru'. Must admit to being as stumped with this one as the rest of you. It may be as NJ suggests in that Coral have paid 1/3 odds but have then halved the odds because of the dead heat. That would total £17.50. Must be something wrong if 'live chat' is still down, lavender88?
Steady on, i've been called many things, but never a 'guru'. Must admit to being as stumped with this one as the rest of you. It may be as NJ suggests in that Coral have paid 1/3 odds but have then halved the odds because of the dead heat. That would total £17.50. Must be something wrong if 'live chat' is still down, lavender88?
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