Why is Betfair so lousy for each way odds?

Ormus

I just joined Betfair for the first time. Wanted to put money on Cabrera for the Masters.

They don't seem to have an each way option, unless I just haven't found it.

So I thought, no problem, I'll put on 2 separate bets, one for the outright win and one to finish in the top 5 (even though bookies usually give top 6 or 7 for each way in golf tournaments).

Cabrera is 100-1 to win outright. So I presumed he would be a quarter of that (25-1) to come in the top 5.

But his top 5 odds are a lousy 13.5-1.

What gives? Am I missing something?

UrbanSea

No this actually works out better, because you aren't losing the win part of the each way stake if he were to be placed rather than win.

10 each way quarter the odds placed with bookies (top price 80/1): Is 210 euro
10 euro place on BF: 145 euro. Double your stake and you're getting 290 for the place

Assuming he wins: 10 euro each way at 80/1 with the bookies returns 1020.
With Betfair 10 euro at 100/1 win and 10 euro place returns 1155

DB74

UrbanSea wrote: »

No this actually works out better, because you aren't losing the win part of the each way stake if he were to be placed rather than win.

10 each way quarter the odds placed with bookies (top price 80/1): Is 210 euro
10 euro place on BF: 145 euro. Double your stake and you're getting 290 for the place

Assuming he wins: 10 euro each way at 80/1 with the bookies returns 1020.
With Betfair 10 euro at 100/1 win and 10 euro place returns 1155

Your 2 examples aren't comparing like with like.

€10 e/w with bookies returns €210 if he places
€10 e/w with BF (win & place) returns €145 if he places

This doesn't include the extra places offered by the bookie either

Betfair is really only better for win-only type bets

UrbanSea

That's because it isn't like for like with Betfair offering place only betting

Ormus

UrbanSea wrote: »

That's because it isn't like for like with Betfair offering place only betting

The question I was asking is why don't Betfair's each way (or win/place) odds measure up to their win odds? I mean even when you allow for the fact that they offer better odds, there is still a difference, even before the limit of 5 places is factored in.

Would it be because people aren't willing to lay as much of a safety net as the bookies can afford to?

Betting on outright winners in golf is too difficult.

myflipflops

Ormus wrote: »

The question I was asking is why don't Betfair's each way (or win/place) odds measure up to their win odds? I mean even when you allow for the fact that they offer better odds, there is still a difference, even before the limit of 5 places is factored in.

Would it be because people aren't willing to lay as much of a safety net as the bookies can afford to?

The market for Cabrera is not fully liquid yet. He is 14.0 to back and 27.0 to lay. You will get a bigger price than 14 closer to the time when the market firms up. You can probably expect about 20.

What price do you want on him to place? Why not put up an offer and try to get it matched?

Ormus

myflipflops wrote: »

The market for Cabrera is not fully liquid yet. He is 14.0 to back and 27.0 to lay. You will get a bigger price than 14 closer to the time when the market firms up. You can probably expect about 20.

What price do you want on him to place? Why not put up an offer and try to get it matched?

He was joint leader of the Houston Open starting today, so I'm figuring his odds are only gonna shorten for the Masters the better he does this weekend.

I'm new to Betfair so wasn't aware I could put up an offer, its good advice, thanks.