December 06, 2019, 09:09:18 AM

Author Topic: Laugh along with those loveable Reds...  (Read 350893 times)

Offline Alanvideo

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Re: Laugh along with those loveable Reds...
« on: September 20, 2016, 04:27:08 AM »
So how does that work? I've never really understood the mechanics of how "Each Way" betting works. There are only two possible outcomes, you either win the league or you don't. So how can you bet on something "Each Way" if it can only happen or not happen. Either way, you win? How is that even a gamble? How does the bookie make money on it?
I'm probably being really thick about betting, because it's not something I tend to do. There's probably a really simple explanation, but the term "Each Way", seems to suggest that it's a no-lose bet.
...........if you bet 5 each way on Everton to win the league it would obviously cost you 10. If we came 2nd you would lose the  'win' portion of the bet but you would get 1/4 the odds on the 'place 'portion'. So if it was 66/1 as MBT says  , you would get 82-50 back plus 5 stake.
We are special ,we are Everton.

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