Deductions

I had a nice punt on Stenson to win the golf at 10/1.

The bet was placed before the withdrawal of Anthony Kim and I see that a 10%deduction has been taken off by Sportsbet whom I took the bet with (this was announced upfront on their home page so no issue there)

I also understand that some bookmakers did not impose this deduction which got me wondering how exactly deductions are arrived at?

Do the bookmakers have discretion or is there a ruling from the provincial gambling board or the like?

I am not questioning the merits of this deduction (it still worked out better than backing him after Kim exit) but am interested in how much leverage bookmakers have (could they for arguments sake have made it 15%) and what route a punter might follow if unhappy?

Would be interested in your comments

How does it work in racing?

Evening Brent, they have fixed tables for deductions, last set I checked was on Hollywood, if you go to the site, I am sure its under rules/deductions?

Withdrawals / Scratchings

In all horse races, excluding ante-post bets, if a horse is withdrawn without coming under starters orders it is treated as a non-runner. A deduction may be made from the winnings of bets struck at a fixed price and, if there is insufficient time to form a new market / starting price the starting price will be subject to the same deduction. The deduction will be defined in accordance with the following table.

Price on Withdrawn Horse


Win Deduction %


1/3


-


Shorter


80%

4/10


-


7/10


70%

8/10


-


11/10


60%

12/10


-


13/10


50%

14/10


-


15/10


45%

16/10


-


18/10


40%

2/1


-


3/1


30%

33/10


-


4/1


25%

9/2


-


11/2


20%

6/1


-


7/1


15%

8/1


-


10/1


10%

11/1


-


Higher


No deduction




Place Betting

1. Fixed Odds Places

The following shall apply to place betting at fixed odds:

1. In races of 3 runners or less no place bets shall be placed.All bets placed will be refunded.
2. In he event of a dead heat in the placings,normal dead heat rules will apply.
3. All fixed odds place bets are subject to the rules relating to scratchings and deductions.In the event where scratchings result in 3 runners or less, all place bets will be refunded.
4. In the event that scratchings reduce the size of the field, and deductions are declared,bets will stand as taken subject to those deductions.If no deduction is declared the odds and places will be determined as per the table below.
5. Hollywood may at anytime withdraw the offer of fixed odds place betting in any given race or event.
6. Hollywood reserves the right to adjust the prices offered for a fixed odds place bet.

Horses playing Golf?

Dave, did I miss something - lol!

You might be right Jim, it was late on a Sunday night!!

as i understand it deductions only have to apply to racing, but if a bookie puts it on his site that deductions will apply on other events, then it's basically part of the betting contract with the punter and you sign up to it when you have your bet.

Which is more understandable - if not, the deductions are a breach of contract

Deduction tables are an absolute rip off.
There is also no uniformity anymore – it can be as high as 60% on an even money shot (pearl betting), to as low as 45% (World of Sport)
How often is a 5/1 shot withdrawn, the bookmaker has not written it’s name, but you get a 20% deduction on winnings?
Only one online site specifies that it reserve the right to a deduction on a withdrawn golfer – i.e. sportsbet.
If my punt had arrived in the golf both interbet and betxchange would have to prove to me that the deduction rule is applicable, as set out in their rules.

I suppose the best way for them to cover their asses would be some form of 'blanket statement'

i.e. "Any bet struck on Any event on this site shall be deductable for any non-runners, as follows: . .. . ." plus "If in the event of more than one non-runner, an additional 50% of the above stated deductions, will be deducted - however, if through said more than one non-runner, a winning bet equates to less then stake - a minimum return of said stake shall be paid."

Or words to that effect - lol!