According to Wikipedia (http://en.wikipedia.org/wiki/Each-way_%28bet%29):
£50 each-way on a football team 'to win the cup' at 15-2 and 1⁄3 the odds a place 1,2 would cost £100.
Returns for the win part of the bet would be £50 × 7.5 = £375
Returns for the place part of the bet would be £50 × 2.5 = £125
If the team 'won the cup' the total returns would be £375 + £125 = £500 and if the team was beaten in the final the returns would be £125. If the team did not reach the final the wager would be lost.
Surely the returns for the win part of the bet would be £50 * 8.5, not 7.5. Or am I missing something?
Jeff
E/W bets
The win part is 15-2 or 15 divided by 2 = 7.5
£50 x 7.5 = £375 profit.
I think where you are getting confused is the return from the bookie would be 8.5 x your stake, with the difference between 8.5 and 7.5 being 1 (your stake). But as the stake is a return of your wager it is not profit.
Does that make sense Jeff?
£50 x 7.5 = £375 profit.
I think where you are getting confused is the return from the bookie would be 8.5 x your stake, with the difference between 8.5 and 7.5 being 1 (your stake). But as the stake is a return of your wager it is not profit.
Does that make sense Jeff?
Hi Steve
I agree the profit for the win part would be £375.
But surely the returns are £50 * 8.5 = £425, and you subtract £50 from that to get the profit for the win part of the bet, ie £375. However, the Wikipedia article refers to the £375 figure as a return.
Jeff
I agree the profit for the win part would be £375.
But surely the returns are £50 * 8.5 = £425, and you subtract £50 from that to get the profit for the win part of the bet, ie £375. However, the Wikipedia article refers to the £375 figure as a return.
Jeff
mugsgame wrote:The win part is 15-2 or 15 divided by 2 = 7.5
£50 x 7.5 = £375 profit.
I think where you are getting confused is the return from the bookie would be 8.5 x your stake, with the difference between 8.5 and 7.5 being 1 (your stake). But as the stake is a return of your wager it is not profit.
Does that make sense Jeff?