The bookies term " Fixed Odds"

Good2soft, so if the bookies don't take a deduction then people would not get refunded for scratched horses and your bet would have lost due to having a scratched horse in you ATC. I don't often defend the bookies but you can't have it every way. Either have deductions or no refunds on scratched horses.

Lets keep this simple and unemotional.........................The odds of a horse are merely a conversion of the % chance a horse has of winning a race.
Having a bet: let's assume you believe a horse has a 50% chance of winning ,the value threshold is Even Money (1/1). Bookmaker price is 2/1 (they are offering a price based on the horse having only a 33.3% chance) so there is perceived value and a bet is placed.
If a 4/1 shot (theoretical 20% chance of winning) is scratched ,the chances of the backed horse has now increased. The prices of the remaining horses are adjusted accordingly ,including the backed horse ,but the adjustment is still done from the base of the original "fixed-odds"

(If a punter backs a horse before final acceptances, he loses his stake if the horse is withdrawn................whether bookmakers should suffer a similar fate with bets taken after acceptance, is an interesting point, but does not exist right now and, if changed, would require an entire shift of the existing "risk" principle, and we are unlikely to see that change)

The one complaint that is valid and needs attention is that ,based on the formula as described ,if a horse is scratched and replaced by a "reserve" horse that is shorter in price (more chance) than the scratched horse ,the original odds should have an "add-on " adjustment.................another thing you won't see happen..........lol.

good point Rob ... as was the case @ Scottsville SHIKRA (12/1) replaced by Pearl Oyster Bay (7/1)

Is there a fee payable for nominating a horese to run?

if yes, what happens to the fee if horse is a non runner?
Why not deduct these deductions from the nomination fee?

Just luk at the reasons for a horse not running eg coughing.
The vet and trainer is responsible for the soundness of the horse
not the punter so deductions must stem from their nomination fee.

Anyway i hv excepted my faith and will try the casino at least my there
my max bet is gaurenteed.

Zesto, Deductions are there to protect punters and bookies trust me

and have nothing to do with owners..

Just say a trainer had 3 entries in a race

A ) 5/10 SHOT
b ) 3/1 Shot
C ) 4/1 Shot

he lumps on the 4/1 shot and scratches the odds on chance and the 3/1 chance

If there was no dedcutions the bookie would have to return all stakes and pay out full dividends to the punter..

good2soft wrote: Anyway i hv excepted my faith and will try the casino at least my there
my max bet is gaurenteed.

Just for the record every bet offered at the Casino is under the odds...Whilst you are there see how many times the dealer takes all stakes at a black jack table without even drawing a card for themselves....but i guess on the upside the coffee is 'free'...

@RF...think small error in calc...4/1 is 20% chance not 25%...

TNaicker wrote: @RF...think small error in calc...4/1 is 20% chance not 25%...

Yes finger trouble...........100 (%) divided by 20 (%) = 5 (-1) =4..........................but I think the point was made!

My sixpence worth.

Following the other clansmen explaining why the adjustment is necessary.

Furthermore, if one backs horse A in a two horse race and horse B is scratched does one really expect the bookie to pay out on horse A in now what is a one horse race? Who started this thread? Messrs good2soft and johnnycomelately - do you really think the bookies have an obligation to pay out on horse A whether the one horse race is run or not?

Sorry guys not read the entire thread but my definition of fixed odds is for ante post markets where the price you take is the price you get whether it shortens or gets bigger at the time of the race your price is fixed.
If you take a normal bet or a price on a horse for any normal race this bet or price can be subjected to change depending on scratchings etc

Mac wrote: My sixpence worth.

Following the other clansmen explaining why the adjustment is necessary.

Furthermore, if one backs horse A in a two horse race and horse B is scratched does one really expect the bookie to pay out on horse A in now what is a one horse race? Who started this thread? Messrs good2soft and johnnycomelately - do you really think the bookies have an obligation to pay out on horse A whether the one horse race is run or not?

Mr Mac, i am not stupid,if you read my posts you will see my only comments really only says that the deck is stacked against the punter
We are the the ones that has to go with the flow and take the punches

If you read Rob and Tich's post maybe you'll get a better idea of what i mean?