Dead heat question
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Did a horse today (Irish Roe) in the 16.05 at Cheltenham.Had £20 on it at 5 with Dafabet,Laid £20 at 4.9 in the end,thought I was gonna get 4.5 but,anyway it was a dead heat.Luckily enough Smarkets have paid me as won,Dafabet have classed it as a loser.
Do bookies have different rules on dead heats?+0November 12, 2016 at 4:27 pm
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are you completely sure it actually was a dead heat? usually both bookies and exchanges pay out half winnings each. so you should have only got half your winnings from the exchange. (and half at the bookie)
edit, looking at sporting life, it was a dead heat so that’s very odd. it may update though so keep an eye on it. I had to wait overnight once while lads was sodding about!
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I’ve now got £30 from Dafabet- 12/11/2016 16:31—— £20.00 on Irish Roe @ 5.00 WIN / Single £20.00 £50.00
I had £50 in there,put £20 on as i said,now my balance is £80,so £30 from them.
Don’t know what went on at Smarkets,It’s now saying Bet Lost (deadheat) – Sell Irish Roe!
My balance which was £114.53 is now £85.51.So have they taken £29.02 off of me do you think?
Confused!!+0
here’s the rules from dafabet, so if you haven’t had anything by morning I’d get on chat. (although again, you should have only got half back at the exchange so keep an eye on that as well, if that doesn’t change something odds has definitely happened)
14. Dead Heat Rules:
A dead heat is when two or more selections in an event tie.
If two selections dead-heat for any placing, half the stake is applied to the selection at full betting odds and the other half of the stake is lost.
If more than two dead-heat, the stake is proportionally reduced accordingly.
For example, if you have £/€10 win bet at 10/1 on a horse and it dead-heats for first place with another horse, then your betting stake is reduced to £/€5. You are returned £/€55 (ie: £/€5 win at 10/1 = £/€50 + £/€5 stake returned = £/€55 returns to you).
In a dead-heat scenario, what does not happen is that the betting odds are halved. That is not the same thing as halving the stake at all and returns a different figure. If the odds were halved then in the example above you would have a £/€10 win bet at 5/1 (odds 10/1 halved) = £/€50 +£/€10 betting stake returned = £/€60 returned. That does not happen.
In betting, the dead-heat rules are such that it is the STAKE that is halved not the betting odds. If it was a three-way tie / dead-heat then the stake would be reduced to one third of the original stake. So a £/€9 bet placed at 10/1 would become a £/€3 bet placed at 10/1.+0
yeah so that sounds right doesn’t it? +£30 at dafa, -£29 at smarks?
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Cheers for your help deathstar,Just was on chat with Smarkets.Basically their formula for dead heats is (0.5 x stake) =£10 – (0.5 x original liability) £38.99 so 10-38.99 =£28.99 or £29.02 they have taken from me.
So I am actually about £1 UP overall in the end,phew close escape mate!!+0
yes, I said that the wrong way round, they halve your stake, not you winnings if that makes sense. usually works out about right.
Don’t spend that quid all at once! 😉
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I won’t ha ha,thanks again! ps I wonder if all the bookies have the same policy?
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I think a straight two horse dead heat is pretty much the same, but there could well be some fruity goings-on when you add three or more into the mix, especially with each way parts to be sorted out, or even different sports like golf etc. but I think that the exchanges would have like for like really, otherwise it would be too different a market for people to bet with. (although that doesn’t seem to stop them with tennis)
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