Watch your bonus bets
 

Done it again, got some bonus bets this week decided to have a go at a few outsiders, one of which SR7-2 ran 3rd, now I'd had $10 EW using bonus bets, in other words $10 for the win @$21 and $10 the place @ $4.90 (both fixed)

It ran 3rd so you expect $39 right? ......... wrong I got $29, why because they also deducted the losing $10 win bet WHAT?

Now if I had put $10 for the win and $10 for the place (separate bets) instead of ticking EW I would have got $39.

As $10 EW is the same bet as $10 win &$10 place, this has to be an example of insanity.

You have to read the fine print party, yes you would have been better off with a $20 place bet. Win draw or lose the bonus, the FULL amount is deducted lost for ever, I'm surprised they let you break it up into win and place, usually it has to be a single bet.
At least you got something out of it I usually blow it.

My point is they deducted the $10 for the win bet TWICE, i.e. the $10 I put on so it lost OK fair enough, but then deducted it again from the winnings from the place bet, that has to be criminal.

Sorry I misunderstood, I thought you had two bets and I said I was surprised they allowed it, you usually can't brake it up into a place and win bet, it has to be one bet win, place or each way, so the deduction was correct.
Painful but correct.

Hi Party

You've outlaid $20 and received $49......$29 profit.

Blackdog1, Mark, yes I know it's correct "to their rules" as you know I got caught once b4, and just forgot. if I'd had $10 win and $10 place 2 separate bets, (exactly the same as $10 EW) my outlay would also have been $20 but my return would be $39 not $29 can you see that? it's to do with perception.

No mate, I think you're confused.
If you'd had 2 separate bets, they would be.... 10 win, which lost, and 10 place to return $49. So first bet loses $10 and second bet wins $39.......which is $29 profit.
If you had the same, say on the tote, with the same result, what would your profit be? It's still $29.

You are right if you could do it that way, but I yet to see where you can break up your bonus money in to separate bets with any bookie or Lux or anyone, they just do not let you!
Better win only or place only.

I'm no expert by any means but I make it what PP is saying.

He had a $20 Each Way bet made up of the following:
$10 win bet = Loss
$10 place bet @ $4.90 = Win $49 ($39 of their money and $10 of your bonus money).

So $49 less the losing $10 win bet = $39.

I suppose the fine print says they take their $20 bonus bet back if you win anything bringing it down from $49 to $29.

Anyway, frees free.

Except a $10 winning bet @ 4.90 doesn't win you $49, it wins you $39.

As I said $39 of their money and normally $10 of your money but in this case it looks like they have taken their bonus money back.

I understand what you are saying Mark that you only WIN $39 but it depends on how you look at it. If you win, your bankroll is $39 better off but if you lose (with your money - not bonus money) then your bankroll is $10 worse off making it a $49 turnaround between a win and a loss.

Has anyone ever worked for a bookie on the credit side of the business?
What party has been given is in effect a credit bet.
Let's look at it like that.
So you're betting "on the nod" and your horse/dog whatever runs a place and pays $4.90. You go to collect and you will have $29 in your name. The $49 less the $10 each way. No actual money has changed hands and you now have $29.

This is pretty basic stuff, and doesn't depend on how you look at it.

If anyone wants to pay more, can I have an account with them please?

(Just remembered I had a free $50 bet today which went on @ $26. If it won I would have been in credit $1250, not $1300.)

My guess is you are right, no matter how the bet was placed they were always going to only give the profit.

I'm amazed that there's an argument, lets try one more time, I have $10 win bet, I also have $10 place bet (both bonus bets) my win bet loses, OK Free bet GONE! my place bet however snags a place and pays $4.90 so my return is $49 less the $10 staked so I now have $39 in my account yes? or no?

Look at it another way, I didn't have a win bet at all just $10 place, I now have $39 in my account + I still have the $10 bonus bet that I "didn't" use.

Anyway the point of this post was this: do not have EW bets with using bonus bets, as Blackdog says win only or place only OR if you have bonus bets with 2 different mobs (I usually do) then have a win bet with one mob and a place bet with a different mob if your horse places you are definitely ahead of where you would be with an EW bet with either mob, (for the same outlay, albeit bonus bets)

yeah you are right partypooper, they shafted you.

Thanks Norisk, there's no problem just me starting to doubt myself, you know how it is,...... with all due respect some of the people here are my "Mentors" and they were saying I'm wrong,......( I'm thinking "I know I'm right, but if these people are saying I'm not, then I must be ready for the funny farm")

Then at the last minute the penny dropped somewhere whew! exonerated but it's no big deal , in my case it was $10, but my point has been shown to be correct, "DONT" bet EW with bonus bets, you will be shafted!

Coming to it from another way if you just had a straight out $20 place bet then they would have taken away the full $20 from your winnings anyway (you would have won more but they still would have taken the $20 back).

And what about if the horse had won in your $10 EW bet? They would have taken their $20 back but you would have won a lot, lot more (maybe $200+ depending on odds).

As Shaun said "they were always going to only give the profit" so punters need to be aware of that. To counter that you would have lost nothing if the horse didn't place so a bit of give and take is what's needed IMO.

I meant the penny dropped elswhere not with me,....... I was right from the beginning.

Always lay off bonus bets at high odds.