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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Ok, I think I get it now.
I was forgetting that you could also lay the place part onto the win.
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Yyess, exactly bob.
So for Scofflaw for example.
If I had 10ew on him then @ 9.5 the place part is 3.125. If he wins then I am 85 +21.25=106.25 in profit at bookie.
If I had layed 19.19 on him at lay odds which were 6.6 then my liability is 107.45.
So that’s is £1.20 loss if he wins. If second though I win my lay – comm plus the place part at bookie. Any other result I lose 20 at bookie and win 19.19-comm at exchange to almost balance at a £1.20 loss.
Second place would be worth 19.90*.98 + 31.25 – 20 = 30.05.
It’s not exactly free rolling the place part of the bet but effective odds of 24/1 for 2nd in this race for this horse I reckoned was worth while value. It was a tough race. Don’t think it was possible to find the classic example where the liability on the win was less than the bookie win (win part + place part).
+0Just looked at the 1835 Kilbeggan
4 places but no edge
Have Sportbook stopped edge?+0Notice 3 place races still have edge but no 4 place races.
Have they cottoned-on?
+0No Edge at all for that meeting, not all meetings have it available. It’s still working fine. If you check some of the big races tomorrow it’s there.
2.45 Ayr only has 16 runners, so worth getting on tonight to take adavantage incase of non runners, as FOG mentions.
+0Ah, thanks, I appreciate it
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I don’t think they are going to pull it to be honest. It is a product they have that sets them apart from every other bookie. I’m hoping that Paddy Power introduce it!
They may tweak it, or they may not.
The easiest thing for them to do is just restrict punters that are abusing the prices.
Contrary to belief they are probably happy for this loophole to spread across the forums and create publicity for their EW Edge which is a unique and fun product!
I think you will be okay so long as you don’t go in with ludicrous stakes like 500 ew and getting you’re account instantly restricted or barred. I think 5 ew will keep this offer ticking over and making a few pound per race which could add up to £100 or so in the month.
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i never looked at what the paddy power edge thing or whatever it is
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It’s interesting to be hoping for a non runner now, having spent numerous occasions praying there isn’t a non runner in the past.
Thanks for the heads up on Ayr MBPunter..
+0Kilbeggan is Ireland too which may make a difference.
I still haven’t fathomed exactly what races to look for, but get the maths. Been watching till now but gone for the 2.45 tomorrow. Hopefully big enough race to slip in with a more reasonable stake, especially as I’ll probably be using betfair for be 3.55 as well. Already got an arb on the win part, let alone bigger profits for 2nd or the potential of non runners+0Only positive of being restricted is can easily just pick out 4 horses that are in and around the exchange price, back em now and not worry about liquidity!
Betman, 16+ runner handicaps paying 4 places. Still waiting for a race where betfair are paying 5 places to see the effect on prices then..
+0Am i doing this right. Mohayyed 7.5/7.6. Shortened the odds to 2 places so 11/7.6.
Lets say i do £10 ew
So £10 ew at 11. and Lay £20.5 on him to win at 7.6.?
That way if he finishes 2nd i win?
How does the non racer affect this?
+0Sebyd101 – With the odds you mention the ideal stake to lay on win only is £19.13 giving 3 possible results
If horse wins you lose £1.26
If horse is 2nd you win £33.75
If horse is 3rd or greater you lose £1.25
If a non runner comes along between now and the start then this will impact the lay prices and hopefully bring them down so in my case I have backed three horses (all for 2 places) and have asked for lower lay odds – fingers crossed that we get a non runner tomorrow or that my horse odds fall overnight (one already has and I am now guaranteed a modest profit on that bet).
+0My calculations using your odds – win at 11 lay win at 7.6 (1/4 odds) are as follows for a back stake £10 each way and lay stake on win only of £19.13 (commission at 2% on exchange).
Horse wins = Bookie +£125 Exchange -£126.26 = Loss £1.26
Horse 2nd = Bookie +£15 Exchange +£18.75 = Profit £33.75
Horse 3rd = Bookie – £20.00 Exchange +£18.75 = Loss £1.25
Pls do dbl check my figures and advise if you disagree – thks
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