Enhanced Each Way Terms
When the big festivals roll around the big bookies offer big value on each way bets.
Have a look at Bet365 enhanced terms offer for Cheltenham today.
They are offering 4 places at 1/4 odds on the first race. Let’s see how we can turn this offer into real cash.
Notice the price offered on Debuchet. They have him at 33/1 or 34.0 in decimal odds.
This is a good price when you consider that the same horse is available to lay on betfair exchange for the same. So in theory you can back at the bookie and lay the same bet on the exchange and break even (in practice you lose a little commission charged at betfair).
Now if you go each way on Bet365 then you get 1/4 odds on the place. One quarter of 33 is 8.25 - or in decimal odds 9.25 for your horse to place in top 4.
Betfair are well aware of this value and like to offer markets on 4 to be placed etc to create action and therefore commission for themselves. Who wouldn’t lay off on the 4 to be placed market where the true value is 7.0 when you are getting 9.25 at the bookie.
Say you manage to take €20 ew at the bookie. And you lay €20 to win at betfair and another €20 to place 4 places also at betfair.
Your position will be:
1. Horse wins: you win the bookie bet, but you pay out on your betfair lays. That is 20 * 33 (win part of ew) + 20 * 8.25 (place part of ew) at bookie in profit. And you lose 20 * 33 at exchange for win lay and 20 * 6 for place lay. Leaving you €45 in profit.
2. Horse doesn’t win but places: you lose the win part on the ew at the bookie (-20) but still win the place part (20 * 8.25). On the exchange you win the lay stake (+20 minus some commission) but lose the lay on the place. Again this leaves you €45 in profit (minus some commission in this case since one bet one at the exchange).
3. Horse doesn’t win or place: you lose both parts of the bookie ew bet leaving you -40. But you win both lay bets on betfair giving you +40 minus 5% comm (+38). Leaves you down just a couple of euro.
You can always lay a little higher to account for commission and guarantee profit no matter what. I like the odds on this horse placing. In this case you risk 2 to make 45 if he places which is effective odds of 22.5 to place which is more about triple the fair odds on the horse to place oacailable on the exchange. It is excellent value.
Have a look at Bet365 enhanced terms offer for Cheltenham today.
They are offering 4 places at 1/4 odds on the first race. Let’s see how we can turn this offer into real cash.
Notice the price offered on Debuchet. They have him at 33/1 or 34.0 in decimal odds.
This is a good price when you consider that the same horse is available to lay on betfair exchange for the same. So in theory you can back at the bookie and lay the same bet on the exchange and break even (in practice you lose a little commission charged at betfair).
Now if you go each way on Bet365 then you get 1/4 odds on the place. One quarter of 33 is 8.25 - or in decimal odds 9.25 for your horse to place in top 4.
Betfair are well aware of this value and like to offer markets on 4 to be placed etc to create action and therefore commission for themselves. Who wouldn’t lay off on the 4 to be placed market where the true value is 7.0 when you are getting 9.25 at the bookie.
Say you manage to take €20 ew at the bookie. And you lay €20 to win at betfair and another €20 to place 4 places also at betfair.
Your position will be:
1. Horse wins: you win the bookie bet, but you pay out on your betfair lays. That is 20 * 33 (win part of ew) + 20 * 8.25 (place part of ew) at bookie in profit. And you lose 20 * 33 at exchange for win lay and 20 * 6 for place lay. Leaving you €45 in profit.
2. Horse doesn’t win but places: you lose the win part on the ew at the bookie (-20) but still win the place part (20 * 8.25). On the exchange you win the lay stake (+20 minus some commission) but lose the lay on the place. Again this leaves you €45 in profit (minus some commission in this case since one bet one at the exchange).
3. Horse doesn’t win or place: you lose both parts of the bookie ew bet leaving you -40. But you win both lay bets on betfair giving you +40 minus 5% comm (+38). Leaves you down just a couple of euro.
You can always lay a little higher to account for commission and guarantee profit no matter what. I like the odds on this horse placing. In this case you risk 2 to make 45 if he places which is effective odds of 22.5 to place which is more about triple the fair odds on the horse to place oacailable on the exchange. It is excellent value.
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