In Response to Re: Jackpot syndicate NAPs table for July : Cheers V, backed it at 13/2 this morning but rule 4 took a whopping 55p in a pound so 5/2 a fair price I guess. EDIT: paid me out nearer 9/2 so can't complain. Posted by Snuffer
perhaps G can help with this, I also backed it at 15-2 and got paid out at about 5.25 to one cant understand how I got better pay out than you.
Might be wrong with my calculations, I had it at £5 e/w and it returned £38.45 after the rule 4. (1/4 odds on e/w). Also well done you as well! Posted by Snuffer
Hi Snuffer/Vaigret.
Rule 4 often causes confusion as unlike in a dead heat, the rule 4 is only applied to winnings not stake.
Also when there are multiple non runners, depending on when your bet is placed, only some of the rule 4 may be applicable. It looks as if Snuffer's bet was after some withdrawals but before others, as despite saying the rule 4 was 55p in the pound the bet has been settled with a rule 4 of just 30p in the pound.
The calculation is made as follows:
WIN PART = STAKE * ((1 + ODDS) - (ODDS * R4))
PLACE PART = STAKE * ((1 + (ODDS/4)) - (ODDS/4 * R4))
FOR SNUFFER £5 E/W AT 13/2 AND 1/4 ODDS WITH 30P RULE 4 DEDUCTION THIS IS CALCULATED AS FOLLOWS:
TOTAL RETURN = £27.75 + £10.6875 = £38.4375 rounded up to £38.44 (So definitely settled as 30p rule 4 despite what it may say)
I had to do all these manually to pass my bookmaking exams (one needs to be careful with the brackets), but obviously nowadays you'd just use an online odds calculator.
Anyhow, I have no doubt that Snuffer's bet was settled at 30p in the pound based on the time of bet placement being before some withdrawals but after others.
Comments
1) JORDZ16:
3.00: THE DUKKERER - LOST
4.00: MYSTERIAL - LOST