Lesson 3 bookmaker’s bets
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Bookmaker’s Bets Fixed Win • Fixed odds means the price you get is the price you keep. • Therefore if you back a horse at 5/1, and it shortens to 4/1, you still keep your 5/1! • Unfortunately it also means that if the horse goes to 6/1, you still keep your 5/1. 1
Transcript of Lesson 3 bookmaker’s bets
Bookmaker’s BetsFixed Win
• Fixed odds means the price you get is the price you keep.
• Therefore if you back a horse at 5/1, and it shortens to 4/1, you still keep your 5/1!
• Unfortunately it also means that if the horse goes to 6/1, you still keep your 5/1.
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• On the Hollywood Internet site you can switch between fractional and computer odds
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Why should you be reluctant to cancel a fixed win bet?
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Fixed Win
The punter may be trying to take a new bet at better odds
• When a horse is 8/10, this means that for every R10 you wager, you will win R8, plus your R10 back. Is this true? Why not?
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• Any horse which is below 1/1 (even money), such as 8/10, it means that the horse is ‘odds on’.
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6% tax is taken off the R8
