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Punt to Win |
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8/8/2003 edition Win or Each Way Betting? Here is what Don Scott had to say about each way betting in "Winning More": "In a field of 8 runners a place return of a quarter the odds for a win is good value. In a field of 9 runners it is fair value. In fields of 10 runners or more the value steadily gets worse. In a field of 24 runners down the straight "six" at Flemington, a place return of 1/3 the odds for a win would be fairer value." "The each way bookmaker is at his weakest with no figures to protect him when the fields are small and one or two chances dominate the market." (Obviously referring to 8 horse fields, not 7) "The longer the each way price, the better it is for the bookmaker. The shorter the each way price, the better it is for the punter." "In general, we may say that the punter has an advantage over the each way bookmaker in fields of 8 to 12 runners if he backs each way horses quoted at 7/1 ($8.00) or shorter. The shorter the win price, the greater the advantage for a place. Finally after even money is reached, the bookmaker usually calls a halt and refuses to bet each way with an odds on favourite in the race." "The longer the price above 7/1, ($8.00) the better it is for the each way bookmaker.....It is only the stupidity of the average punter that allows him to survive. If punters kept backing the even money, 6/4 ($2.50) and 2/1 ($3.00) chances with him each way, they would soon take his money and drive him out of business." Of course, Don Scott was not writing about markets of 150%, nor advising each way betting on the tote where you will very rarely get $1.50 about a 2/1 ($3.00) chance in an eight horse field. Don Scott has said it all. If you go to the racetrack and bet in Saturday Sydney and Melbourne bookmaker markets only when competitive bookmaker odds are available you will do far better betting each way in eight to 12 horse fields on horses that are $8.00 or shorter. It also helps avoid those nasty losing runs when you regularly run places and keep getting pipped on the line. This edition of Punt to Win: Back Tote Longshots?
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