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Topic review (newest first)

Nehushtan
2013-04-25 23:39:31

You’re right, it looks confusing. eek

phatus
2013-04-25 23:30:04

Nehushtan wrote:

In what sense “more than”?

If an odds give you more returs when you win, we say the odds are longer; otherwise they are shorter. The longer the odds on a horse, the less probability it has of winning.

Try not to use the terms “greater/more than” or “less than”. They are confusing.

The website says 'the bet must be placed on odds of 1/2 or more'. I think maybe they have just worded it badly. I assume they're saying the bet must be placed on odds of 1/2 or shorter as 7/5 would be longer and they say i can't use these odds for the bet.

I think what i need to do is find a 1/2 or shorter bet and confirm with the website this is acceptable. If it isn't then one of the people who have replied to me must be wrong.

Nehushtan
2013-04-25 23:20:35

In what sense “more than”?

If an odds give you more returs when you win, we say the odds are longer; otherwise they are shorter. The longer the odds on a horse, the less probability it has of winning.

I think it’s better to avoid the terms “greater/more than” or “less than” to avoid confusion. Thus we say that the odds of 7/5 are longer than those of 1/2 (2/1 on).

phatus
2013-04-25 23:04:10

Yes 7/5 has a lesser chance of winning but a greater return if it wins compared to 1/2.

So would you agree with the following statement: 7/5 is more than 1/2

The betting website doesn't.

Nehushtan
2013-04-25 22:40:05

I think you’re confusing the terms “greater” and “less”. A horse that has a low probability of winning would have longer odds giving you higher returns if you win, whereas the favourite (the one with the highest probability of winning) would have the shortest odds meaning your returns if you win are the smallest. In other words, greater chance of winning = lesser returns if you win, lesser chance of winning = greater returns if you win.

phatus
2013-04-25 22:32:45

And 7/5 is definitely greater than 1/2 (it’s “greater” than 1/1 whereas 1/2 is “less” than 1/1).

This is where my confusion is because the website (think it's Ladbrokes) said 7/5 isn't more than 1/2. That's why i was asking here because i assumed it would be. I think i'm going to have to send them another e-mail to get them to clarify this.

Nehushtan
2013-04-25 22:26:37

phatus wrote:

what odds are more than 1/2?

For example is 2/3 more? What about 7/5?

1/2 means if you bet £1 and you win, you receive £1.50 (1/2 × £1 = £0.50 plus £1 stake).

1/2 is read as “2 to 1 on”.

For 2/3, £3 wins £2 plus £3 = £5. If you had staked the £3 on the 1/2 above however you would have got £1.5 + £3 = £4.5. Therefore 2/3 is a longer odds than 1/2 (it pays out more if you win).

And 7/5 is definitely longer than 1/2 (it’s “greater” than 1/1 whereas 1/2 is “less” than 1/1).


bobbym wrote:

Using the fraction notation is not correct.

Why is it not correct? Most bookmakers here use fraction notation.


phatus wrote:

So if i bet £1 at 1:2 i would get a £1.50 return if the bet won. The original bet plus 50%. I don't understand what they mean by odds greater than 1:2.

Think of it this way. If you bet £x you will earn £1.5x if you win. Now stake the same amount (£x) on the odds you’re looking at. If your earnings are more than £1.5x, then those odds are longer than 1/2. Otherwise they are shorter.


bobbym wrote:

Yes but you are phrasing it in a very unorthodox fashion.

No, he’s phrasing it in a way I understand very well. smile

phatus
2013-04-25 22:14:32

Ah okay i think that's the case because i asked the website by e-mail if 7/5 (this is what i wanted to bet on) would be more than 1/2 and they said it wouldn't. I was confused because i thought the 'more' was referring to the return. So 'more' than 50% profit return. I think you're right that they mean i have to bet on a favourite at 1/2 or 'more' which means an even greater favourite like 1/10 for example.

Thanks for the help. Sorry for the confusion.

bobbym
2013-04-25 21:12:25

Hmmm, I have lived in Vegas for almost 100 years and that is not the way it is posted here.

Looking at that it looks like they want you to bet on a favorite. Something  that is more than 2 to 1. This way they do not have to pay anything other than a small amount.

phatus
2013-04-25 21:06:27

That's just the way they write it on betting sites. I can't access betting sites at the moment as i'm at work but here's a copy/paste from a google search:

oddsconverter.co.uk/CachedGuide to UK, American and European odds formats and betting calculators. ... 1/2 , 1.50, -200, 13/8, 2.63, +162.50, 9/2, 5.50, +450. 8/15, 1.53, -187.50, 17/10 ...

At oddsconverter it shows 1/2 as a decimal bet of 1.50. This means if i bet £10 i get £15 return. So the person i'm betting on would be considered a favourite to win.

bobbym
2013-04-25 20:56:51

Yes but you are phrasing it in a very unorthodox fashion.

I would guess that he is requiring you to bet on something that is bigger than a 2 to 1 dog.

phatus
2013-04-25 20:54:35

If player 2 is 2:1 against, that means 1 is a 2 to 1 favorite. I bet 10 dollars on 1, I expect to get 5+10 dollars back.

Yes that's what i said in my last post. See:

So if the odds were 1/2 and i placed a £10 bet i'd get a return of £15 if player 1 won.

That's not answering my question though. sad

bobbym
2013-04-25 20:46:34

As an example of betting odds if i bet on player 1 to beat player 2 and the odds were 1/10 and i place £10 on the bet and player 1 wins i would be given a return of £11

That is saying player 2 is 10:1 against.

If player 2 is 2:1 against, that means 1 is a 2 to 1 favorite. I bet 10 dollars on 1, I expect to get 5+10 dollars back.

phatus
2013-04-25 20:30:15

I think we're getting crossed wires here. I understand what you're saying but i think because of the way i've written the betting odds you don't understand what i'm saying. I'm not 100% sure how bookies write betting odds on their website so i could be writing it incorrectly. I thought it is written as 1/2 but could be wrong and maybe it's 1:2 or something like that.

As an example of betting odds if i bet on player 1 to beat player 2 and the odds were 1/10 and i place £10 on the bet and player 1 wins i would be given a return of £11 (original bet plus £1). So i wouldn't be getting a good return because player 1 is expected to win most of the time. So if the odds were 1/2 and i placed a £10 bet i'd get a return of £15 if player 1 won.

Basically i have won a free bet at a bookies and it says it has to be placed on odds of 1/2 or more. I don't understand what is more than 1/2. I assumed it means if my profit return is greater than 50% as it would be at 1/2.

bobbym
2013-04-25 19:35:06

If he says it is 2 to 1 against when you bet 1 unit you get paid 2 units.

Think of it like this. If I were to play the current world champion at chess Vishy Anand, the book would post say 1000 to 1 against me. That means anyone betting 10 dollars on me would win 10000 dollars if I win.
Anyone betting on him would have to lay 10000 dollars to win 10 dollars when he wins.

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