Beware '# Winners' paid?

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rinconpaul
Posts: 112
Joined: Wed Dec 03, 2014 10:39 pm

When it comes to the number of Place dividends Betfair pay, it reads something like this:
"Pays three dividends in fields of 8 or more runners, two place dividends for fields between 5 and 7 runners and no place pool in races with 4 or less runners"

The above is qualified further from their Rules:
Place Terms for Exchange markets
The number of winners in 'to be placed' markets is as set out in the Market Information and is determined with reference to the number of runners known to Betfair when the market is loaded.
Once opened, the number of winners in 'to be placed' markets will not be affected by further non-runners
.

The "catch" in all this is this bit: "number of runners known to Betfair when the market is loaded" When exactly is the market loaded? That's an unknown, and therein lies the mystery?

Some races might show an initial field size of say 8 or 9 on the tote/bookmaker, and with scratchings, reduces the field down to less than 8 runners, however sometimes these races on Betfair will pay 3 places and sometimes 2, depending on the catchphrase above! Where you can get caught out here is if you've recorded past data and not confirmed the exact number of places paid. The only way to be sure is record Betfair's '# Winners'.
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rinconpaul
Posts: 112
Joined: Wed Dec 03, 2014 10:39 pm

I can tell from the response to my first post that there aren't a lot of Place punters out there? However for the sake of publication ad infinitum, let me pose these questions?

1/ What % of 5, 6 & 7 horse fields on Betfair pay 3 dividends instead of 2?
2/ Is there 'value' for a backer or layer betting on either/or, races paying 2 or 3 dividends?
3/ From a trading perspective, does the dynamics of betting alter between either scenario, even for the Win?

:?: :roll:
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Derek27
Posts: 23475
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

1 no idea.

2 yes, the value depends on the odds and not the number of places.

3 generally speaking trading is similar for win and place markets but from my experience there is not enough money in place markets to trage efficiently - I often felt I opened a good trade but the money disappeared just before the off and I had to close for a loss.
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firlandsfarm
Posts: 2688
Joined: Sat May 03, 2014 8:20 am

This is the closest I can get to what you want. It's based on the original number of Declarations (cannot vouch if that is what Betfair use as 'runners known to to them' but it's a fair punt). If you take that assumption you can work out the No of Places they likely would have paid out on. Hope it helps.

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