20/7/2001 edition

Punters Losing Out?

Decimal odds - are punters losing out?

I have a sneaking suspicion that the introduction of decimal odds has encouraged bookmakers to take advantage and offer poorer value markets to punters.

It is quite clear that decimal odds are reducing dividends available to punters for some standard bets and they are not being made up elsewhere in the prices offered. You no longer get 9/4, which is $3.25, instead you get $3.20. On those winning bets it is a reduction of over 2%. It may seem insignificant, but those percentages add up long term.

Also gone are those fraction bets to win a $100 or $1000 like backing a horse at 6/1 to win a $100. You used to be able to go up to a bookmaker in the betting ring and say, "$100 to $16," and you made an extra $4 on the bet compared to getting 6/1 on your $16 bet should you win. It all added up. Now the price you get is $7.00. No fractional overs there.

Because decimal odds also include your own dollar, to many punters they seem bigger odds than the traditional odds eg. 3/1. You now get $4.00 instead of 3/1. Sounds more, doesn't it? Another reason to shave the prices on offer.

In recent weeks I have been scathing at some of the tight markets being put up in Adelaide and Brisbane where the starting price of all runners adds up to well over 130%. That also makes it just about impossible in most races to get a decent value bet.

What that often means is any bet in the race is a long term losing bet.

Just think about that. In those races, it doesn't matter how good you are at selecting winners. The odds are heavily stacked against you because of poor prices. That means you cannot win long term by having a bet in those races.

Of course if all punters took the smart attitude, and generally did not bet in very tight markets, then the markets would quickly be back to around the 110% - 115% mark. Without turnover bookmakers can't make a dollar, so more generous odds would have to be offered to generate turnover.

Next pages
Future winners at big odds
First class win
This horse is super consistent
Trial form - what you should know
John Hawkes - let's win
Jockey watch
Form analysis
Why you should not be too forgiving
And much more...

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