Hiya All
I have backed a few runners recently where there have been non runners and still at a loss to work out How betfair seem to think that there non runner policy is fair not that it makes any difference to Betfair but thought I would bring the point up for discussion
Today I backed a Horse in the Salisbury 1600 I had £10 on at 1.5 Giving a £15 return if the Horse won. The 2nd fav was taken out trading at a price of around 5 or 4/1 at the time leavng a 20% deduction but Betfair take the 20% off the Total potential returns including your stake so 20% off £15 making a £3 deduction so potential returns now of £12 So really from 1.5 to 1.2 Which is not a 20% deduction in winnings as they include my stake.
Bookmakers have a smilar rule 4 but only take the deduction off potential winnings So a 4/1 shot being withdrawn would have a 20p rule 4 but only off winnings So 20p in the pound off a £5 winnng would result in £1 off the £5 plus the stake back £10 Potential profit £14 as opposed to Betfairs £12
Anyone think this is unfair to also take the 20% off the stake Not that Betfar will care and I know I dont have to bet with betfair but just dont like unfairness
General discussion : Betfair Non Runners
You have totally misunderstood the whole NR process.Banthorpe wrote: ↑Fri Sep 14, 2018 12:57 pmHiya All
I have backed a few runners recently where there have been non runners and still at a loss to work out How betfair seem to think that there non runner policy is fair not that it makes any difference to Betfair but thought I would bring the point up for discussion
Today I backed a Horse in the Salisbury 1600 I had £10 on at 1.5 Giving a £15 return if the Horse won. The 2nd fav was taken out trading at a price of around 5 or 4/1 at the time leavng a 20% deduction but Betfair take the 20% off the Total potential returns including your stake so 20% off £15 making a £3 deduction so potential returns now of £12 So really from 1.5 to 1.2 Which is not a 20% deduction in winnings as they include my stake.
Bookmakers have a smilar rule 4 but only take the deduction off potential winnings So a 4/1 shot being withdrawn would have a 20p rule 4 but only off winnings So 20p in the pound off a £5 winnng would result in £1 off the £5 plus the stake back £10 Potential profit £14 as opposed to Betfairs £12
Anyone think this is unfair to also take the 20% off the stake Not that Betfar will care and I know I dont have to bet with betfair but just dont like unfairness
You backed at 1.5. A 20% reduction factor was applied to the ODDS you backed at, your potential winnings don't factor in the calculation. 80% of 1.5 = 1.2 odds.
You backed £10 so your winnings are £2 and stake returned is £10 = £12 total potential return.
I suggest before you place anymore bets or trades you spend some time learning about Reduction Factors.
Betfair have been 100% fair to you.
Thanks for the reply and you have totally misunderstood the point and your calculations are just the same as mine. And I would sujest you dont place anymore bets until you understand the point.
Whichever way you calculate it It will still come out the same. You can take 20% of the 1.5 those leaving 1.2 so any potential returns does = £12 The point you are missing is of that 1.5 the 1 is my stake so you are take 20% of my stake too which is unfair.
The 20% should only apply to the 0.5 part as the Bookmakers do.
20% reduction factor from Betfair or 20p in the pound deductions from winning that the Bookmakers charge is very dfferent
Whichever way you calculate it It will still come out the same. You can take 20% of the 1.5 those leaving 1.2 so any potential returns does = £12 The point you are missing is of that 1.5 the 1 is my stake so you are take 20% of my stake too which is unfair.
The 20% should only apply to the 0.5 part as the Bookmakers do.
20% reduction factor from Betfair or 20p in the pound deductions from winning that the Bookmakers charge is very dfferent
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Banthrope, profit for 1.2 at 10 pounds stake is 2 pounds. potential returns as you say are 12 pounds. 2 pounds profit and your 10 back.Banthorpe wrote: ↑Fri Sep 14, 2018 3:11 pmThanks for the reply and you have totally misunderstood the point and your calculations are just the same as mine. And I would sujest you dont place anymore bets until you understand the point.
Whichever way you calculate it It will still come out the same. You can take 20% of the 1.5 those leaving 1.2 so any potential returns does = £12 The point you are missing is of that 1.5 the 1 is my stake so you are take 20% of my stake too which is unfair.
The 20% should only apply to the 0.5 part as the Bookmakers do.
20% reduction factor from Betfair or 20p in the pound deductions from winning that the Bookmakers charge is very dfferent
Yeah that is all correct and I dont dispute that at all but that is not a 20% in potential winnngs. How the Bookmakers calculate it at 20% deduction or 20p in the pound from winnings is. Original potential winnings £5 less 20% or 20p in the pound = £1 so potential winning now £14 so in that case it is a 20% deduction
The betfair explanation above has the same flaw they take the 8.6 figure which in fractional odds is 7.6/1 but they are includ the 1 in their calculations which is a stake
The betfair explanation above has the same flaw they take the 8.6 figure which in fractional odds is 7.6/1 but they are includ the 1 in their calculations which is a stake
the reduction is calculated from the odds not the winnings
(Decimal odds / 100) x reduction factor of nonrunner

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