Betfair Each Way edge

What price you laid the 17.0 shot?

Yeah that’s what i’m saying. Most of the value is coming from the arb rather than the edge.

Yeah good spot!
One good thing less runners gives you more chance of hitting.
Looks like you’re well stocked up, good luck.

Boooooom. Lightoller get the fuck in.

£40 ew at enhanced ew odds of 6.5 so £220 up

What was your actual bet though and how did you lay it?

I made a couple of quid on it doing basic ew arbing.

£20ew at 12/12 and 3.2/2.5 for the 4 places.

Where am I losing so much value?

Take your point Fog-Blog (page 14) re the fact my calcs for 2nd place are perhaps a little too generous.

I want to carry on using the bookie industry formula for places since I guess that has been tried and tested over the years and whilst not always perfect as we all know, to our benefit, generally speaking I guess it works. What I will do however is tweak the adjustment so that it further reduces the implied odds of the horse getting 2nd place and thus reducing the EV.

I also take your point re going for larger amounts as opposed to the small £0.30/0.40p’s that I have been managing along with the odd 2nd place from time to time.

That said I would like to think I can carry on with ‘my methodology’ and lets see how I do – I fully expect a winning horse from time to time which will cut back my profits but overall this should continue to prove profitable which ever methodology we use.