Betfair Each Way edge
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So I just noticed this gizmo.
On betfair when you are placing an each way bet you can adjust the terms if you want.
For example I can bet on Top Tug in Catterick 14:20 today odds 3.25. Standard place terms are 1/5 odds, 3 places.
This is almost value as you’re getting odds 3.25/1.45 for the win/place(3) on the bookie and the lays are at 3.7/1.27 on the exchange.
BUT
If I toggle the Each Way Edge widget to only pay two places then this will increase the odds to 4.33! Giving 4.33/1.67 for the win/place(2), where the lays are 3.7/1.59 (2 to place). Which is better value.
Maybe its something someone wants to look into, but at least at first glance on this example looks like you can stretch the value you get e/w arbing by using the edge.
Anyone use this feature regularly?
+0January 12, 2017 at 11:58 am
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Sorry to re-birth this thread – but I was reading through it all, and still not sure on something.
What are you looking out for here in terms on races / horses? I read that it’s 16+ 1/4 odds, but when I looked at those today and tested a few with the calculation, the odds were way out resulting in large QLs. Whereas people on here were talking about being able to back multiple horses in the same race for 50p and less QLs.
Is it just a matter of waiting for big meets where there’s more action on Smarkets?
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If the (not enhanced) Betfair SB odds are not close to the lay odds on Smarkets then you won’t get a low qualifying loss/qualifying profit when you reduce the places with edge.
But yes, a 16+ horse race that pays 4 places at 1/4 is what your looking for.
You don’t necessarily have to wait for the big meets, in the half an hour before the race there will be qualifying profits on all* such races.
*in my experience
+0Ok thanks.
Also just for the benefit of anybody seeing this for the first time, here’s the calculation (originally posted by @MbPunter) to use to place the bet (I searched for so long through this thread to find this):
– Select a horse in a 16+ race with 1/4 odds
– Select each way, and select edge
– Reduce the number of places to 2 (down from 4)
– Note down your full return (i.e. win for 1st, plus win for place, plus total stake)
– Divide the full return by total stake, giving you the back odds to put into the calculatorE.g.
Odds given by Betfair once edge added = 16.0
E/W stake of £10 (total £20)1st win return = 10 * 16 = £160
Place win return = 10 * (((16 – 1) / 4) + 1) = £47.50
Total return = £207.50Effective odds = 207.5 / 20 = 10.375
Smarkets lay odds for 1st = 10.5Put into the calculator a stake of 20, and the back and lay odds shown above
Lay this amount against 1st win on Smarkets
This results in a large win for 2nd place, and a small QL for any other place.
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Also, if you want to work it out quickly without using maths skills, you can enter 50p each way as the stake and the return will be the decimal odds.
Just had a look at the 20.35 at Newbury but there are no close odds atm…
+0It seems that the method bookies use to close the loopholes in their offers is to offer crap odds.
It amazes me that any normal punter would back a horse at a bookmaker when they can get far better odds elsehwere. In the 8.35 Newbury Betfair Sportsbook are currently not close to best odds on any horse in the field.
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Off-topic but what amazed me was during Cheltenham festival, William Hill offered some really nice boosts in the morning in shop, I went in everyday and only once was there another punter in there.
The staff didn’t seem to know anything about the boosts either.. “Churchill at 2/1, well I don’t it’s going to be that long odds….oh….so it is, how much would you like to bet on it?”
+0Yeah I have checked the past few days, even near the off, odds are way too far out to make it worth while
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So I have read through the first 15 pages and have got the grasp of the stakes etc. I am expecting a fast stake restriction so want to hit it heavy. So I just need to wait for a day with a few 1/4 4 place races and im good to go?
+0Given liquidity and close matches at the exchange yes
Only do this if you are gubbed. If not wait and milk the offers side first
If you really want to hit it hard don’t rush it. Observe a couple of race markets, how edge adjusts the odds and what you would theoretically bet in Betfair plus the exchange. When you feel comfortable with exactly how to smash it make sure you’re exchange is stocked up too.
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Restrictions tend to ease greatly closer to the race too. At 9am, I can only get £15 ew but as the day goes on that increases and I was able to get £50 ew on 10 minutes before a race went off on Saturday.
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The 13.55 at York today is a good bet on Edge (2 places) I would think – in the hope of one or more non-runners.
+0Yup 2 more NRs, excellent
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Is there a calculator on oddsmonkey that can be used for betfair each way edge bets? I managed to muck it up on Tuesday and lost £32, was using each way matcher, but it had 3 places, damn horse finished 3rd! I think each way matcher can be used if 2 places are paid, I used a 3 place race, but changed it to 2 places, but obviously that didn’t work.
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Value bet.
Fire Tree in the 17.20 at Newmarket tomorrow.
Betfair SB odds 34, which enhances to 56 with 2 places each way – effectively 35.37 on the win.
There’s no money to lay it but the last price match on the betfair exchange was 27.0.
17 runners so, there’s a reasonable chance of 2 non-runners too..
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After reading through the thread again, I got at last. Place an each way bet with betfair sportsbook, enhance to 2 places with 1/4 odds with 3 or 4 places, lay the win with smarkets, easy! Managed to hit two 2nd places in my first 3 races.
I’ve been trying this with other bookies with extra places on offer, so one horse being on for 2nd or 4th place, haven’t hit one yet though with this method.
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