Tthe Open bet

Tipster Wrote:

---

> pirates Wrote:
>

---

>

---

> > tipster where do u get your open bet limits
> from?
>
> I used as example (see below) from one of the
> bookmakers websites, although it obviously doesn't
> mean all of them have the same limits
> SWINGERS 500 to 1
> TRIFECTA 25,000 to 1
> QUARTET 50,000 to 1
> EXACTA 1000 to 1
> PLACE ACCUMULATOR 10,000 to 1
> JACKPOT 50,000 to 1
> PICK 6 200,000 to 1


is the 1 not the key here?1 rand what happens if you spent 2 rand or 3 rand ?

I believe the 1 represents a full unit not a rand

Where is the profit of the bookmakers putting all the bets on the tote? Then they should just be a tote agency and take the commission for no risk.

And on fixed prices you playing at about 6% in real terms if you busy, worse if you not, but the tote bet you kick off at 17-25%.

I think most bookmakers lay it unless it's a big bet and laying it (out of the tote pool) is so disadvantageous as the bet should have diluted the dividend.

The limits is the kicker that really sticks it to punters. When your payday does arrive, and you only get 50% or 20% of what you should have to really come square.

pirates Wrote:

---

> Tipster Wrote:
>

---

>

---

> > pirates Wrote:
> >
>

---

>
> >

---

> > > tipster where do u get your open bet limits
> > from?
> >
> > I used as example (see below) from one of the
> > bookmakers websites, although it obviously
> doesn't
> > mean all of them have the same limits
> > SWINGERS 500 to 1
> > TRIFECTA 25,000 to 1
> > QUARTET 50,000 to 1
> > EXACTA 1000 to 1
> > PLACE ACCUMULATOR 10,000 to 1
> > JACKPOT 50,000 to 1
> > PICK 6 200,000 to 1
>
>
> is the 1 not the key here?1 rand what happens if
> you spent 2 rand or 3 rand ?

Those are the maximum odds you can win. If you get the PA 3x and it pays R10,000 you will get paid R30,000, but if you catch 5% of a P6 that pays R1million you will get 5% of 200,000 e.g R10,000.

Like last weeks mammoth pa...eishh

tipster i have just read betxchange terms and conditions and they pay a max of 1.2 million rand ...so if you catch a pick 6 that pays 1.2 million they pay you 1.2 million if you catch it twice they still pay you 1.2 million...so with all due respect their limit is tops and will cover 99.99 of bets that get caught

The limit is in respect of R1 (or one line) and refers only to winning bets,as losing bets fall away:
eg.A R100 jackpot perm is taken with the bookmaker at the limits above and the pot pays R75000(per line)......the punter receives R50,000...ie.the limit due to the fact that only 1 line was successful....99 lines failed and are excluded!
If however there was a scratching and the ticket suddenly had 2 winning lines,the payout would be R50000x2=R100,000.

(When I had a cubicle,many punters battled with the concept that a R100 perm is merely a convenient way to take 100 seperate j'pots and doesn' multiply the limit by 100.)

Thanks pirates,and they [bookmakers] do sometimes burn their fingers

Jack Dash , they don't take all of it back they do it partially in this case the bookie took back 50% i think .

I walked in to top bet in boksburg some time ago . I took a few open bets with them in the 4th race . By chance every bet i took landed and the bookie forked out about R27 k . That was it he would not lay a single open bet thereafter . He sent me to the tote window .I would guess that he probably lays tote bets now.

Question:

If someone took a large perm and managed to catch a massive pick 6, let's say only winning ticket with an open bet via the bookie and the actual tote had no winners and declared a carry over. What are the implications? Would the bookie pay multiple odds at the SP as if the punter had won an ATC ?

Good point Dave

To speak to JD's point, most of us Pick 6 player are mugs and lotto-esque style players, chasing the all conquering fortune that will see our exit from punting. Very little risk in it for the open bet bookies so they make 100% off of the bulk of us. I am sure they know most of their punters punting abilities and bank 100% of the bet rather than take back on the tote etc.

The most interesting point I have read so far is Whitehouse's statement that the Punter is king and not the owner.They must at least be equal as both need each other. It is like the casino's and their gamblers. They both need the other.