Betting expert needed

[paul of palace]

Need someone to help me out here with a question.I put £15 E/W(cost 30 quid)on Michael Cambell getting aplace at the PGA yesterday at odds of 10-1.They were giving you 1/5th odds for a place.How much should i get back.I know he tied with two others for fourth place but i only got back 15 quid including my stake money.I thought you got back all your stake money otherwise this is the only winning bet i have ever had that i have lost on or have they paid me out wrong.

[Jim Cannons Moustache]

Thinking back to my days doing part time work in a bookies, I think it is because they will pay out e/way bets on positions 1,2,3,4 -if he was tied for fourth I believe they will only pay out half of what you would have won if he had been clear in fourth.

might be wrong it was a few years ago i worked there!

[Feather]

In a dead heat your stake is split between the number of people tied.

In a 2 way dead heat you get half of your stake as winning and half of your stake as losing. In a 3 way dead heat you get a third of your stake as winning and two thirds as losing.

With your bet £5 was taken for Michael Campbell to finish in the top four, at 2/1 (10/1 at 1/5 odds) giving returns of £10. You then get your £5 stake back giving a total of £15.

Hope this helps.

[paul of palace]

Feather thanks for that, woman on the phone just told me that and i did not understand her either, cheers anyway.Just put 20 quid on hingis to win the french open.

[Feather]

"In a 'Dead Heat' the stake money on a selection is divided by the number of runners involved in the dead heat. The full odds are then paid to the divided stake, with the remainder of the stake money being lost."

[Eagles Fan]

Originally posted by paul of palace
Feather thanks for that, woman on the phone just told me that and i did not understand her either, cheers anyway.Just put 20 quid on hingis to win the french open. Paul your not Jim Alexander - the keeper from dream team are you.