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Woodie, I have always been confused by the dead heat calculations but my understanding is they half your profit on the horse, I think...

Woodie

treat it as 2 separate bets of 50

1 wins at 3.0, the other loses

Bet 1 has a profit of 100
Bet 2 has a loss of 50

Net result is a profit of 50

This is copied from Betfair's own rules and actually supports what they have done.
I think it's a swiz but I'll have a look at a conventional bookie's rules and post again.

"What happens if there is a dead heat?
A dead heat is calculated by dividing the stake proportionally between the number of winners in the event. So, in a two-way dead heat (2 winners) for example, your return will be half of what it could have been. This can be referred to as half-face value of the bet, or a bet for half the original stake.

For example:

Initial bet = 30 @ 11 (1 expected winner - 2 dead heat for first)

Half-face value of ticket: 30 @ 11 divided by 2 = 165

or

Half-stake: 15 @ 11 winning bet = 165

The profit of the bet equals the total return minus total stake: 165 - 30.00 = 135"

Fundy - OK, but surely he gets his 50 stake back on the winning bit !!!

schiff thats my grip they have reduced it twice 1/2 the stake then again at the end, i phoned them but wont admit there wrong. they have credited money in my account of 50 pound which is half of the originel stake no winnings.lets hope this does not happen to often

This is copied from bet365's rules:

"Dead-heats

Where two selections dead-heat half the stake money is lost and the full odds are paid to the other half. If more than two dead-heat the stake is proportioned accordingly."

This coincides with my view, on the assumption of course that you can read into it that the stake on the winning bet is returned.

If it isn't I can't see how it is correct!

WOODIE - I think it's worth phoning them again to have them specifically confirm that they DON'T settle these bets like conventional bookies.

Effectively they are not reimbursing the winning stake and I just can't see how that's right - or fair. It might be worth waiting for Fundy's response to my 8499 first though as he has a lot of experience!

just received another email as follows
Dear Michael

Thank you for your e-mail.
The explanation that was given to you regarding dead heat settlement
correct. We have always settled dead heats in this way, as we also
have layers to protect when betting on the exchange. For a further
explanation of Betfairs dead heat rules, please click on about us,
and scroll down to dead heat rules.

Please do not hesitate to contact us if you have any further

Woodie

If it was with a conventional bookie you would have staked a 100

This would be settled as 50 win at 2/1 = 150 return and a 50 loss meaning a return of 150 from a stake of 100 and a resultant 50 profit

On betfair your account should have initially been debited with 100 for the bet and when the result was known should have been credited with 150 (including your original stake). If you check your P&L for the event it should show a 50 profit and if you check your account statement you should see the 100 debit for the bet and the 150 return (less commission)

Can you let us know exactly what is on your p&l and account statement for this event

I am sorry - I have had my knickers in a twist!

When the first bet was talked about as being 3s, I subsequently treated it as 3-1 (in English money), overlooking completely that it was Betfair. In fact the bet is at two to one.

So my old fashioned system produces half of SP 2 = 1 less half of one ie. 0.5 = 0.5 to your stake. Equivalent to two to one on. So you win 50 plus your stake of 100 back (using my method of course) and Betfair and everybody else is right.

Really sorry if I raised your hopes WOODIE.

sorry for late reply copy of my statement
Group B Buick Invitational / Top 5 Finish / L. Glover
Back 200.00 3.00 Won 100.00
no commision taken fundy your verdict if this is the correct amount there was 4 players tied for 4 th place in 5 place market. sorry i gave the earlier odds and stake for the other golf tournement the qater masters.

Anyone on the cricket this am?

SA have 2 wickets left but need another 114 runs of 48 balls.

They better not do it otherwise I'll be down the swanny!!

Famous last words, but it looks safe to me.

Thank you Aussies :-)

Won by a massive 80 runs.

2.10 at Fontwell

4 horses traded at 1.2 or below in running, with the prices of the 3 losers going as low as 1.06,1.16 and 1.20

Favourite in the last at Fontwell went from 1.2 to 1.79 then back to 1.41 pre race :-)

my biggest ever 1 race profit :-)

Nice one Steve. Sorry I wasn't watching

Well done Steve.

I wonder if the Egypt football match in the African nations is still going ahead. Anyone heard anything?

Steve...Excellent stuff.

Green on Egypt :-)