TAB taking the piss

[mardigras]

R1 at Ellerslie in 6 minutes. The place market (3 divs) is at 377%. I don't bet on that but I looked at the prices and thought, who are they kidding. Hesi, you do some place betting - are they always like this?

`

[VC!]

I thought fields of less than 8 only paid place divided first and second

Anywho this 3rd race at Ellerslie this first starter Helsinki has been well backed must have a big Finnish

[mardigras]

6 minutes ago, VC! said:

I thought fields of less than 8 only paid place divided first and second

Anywho this 3rd race at Ellerslie this first starter Helsinki has been well backed must have a big Finnish

NZ TAB pay 3 divs fixed generally for that, 2 divs tote. Not sure, but they may remove fixed odds place when 5 or less starters.

[Hesi]

2 hours ago, mardigras said:

R1 at Ellerslie in 6 minutes. The place market (3 divs) is at 377%. I don't bet on that but I looked at the prices and thought, who are they kidding. Hesi, you do some place betting - are they always like this?

`

Yes  in the smaller fields it is shocking

I don't  bet FF place anymore for 2 reasons

1.  Any scratchings and you get even more hammered with deductions

2.  The tote price almost  always closes better than the FF.  Germanicus opened 2.15 FF but tote closed at 2.50

TAB give you no incentive to bet FF because the place prices on faves is draconian 

[Blind Squirrel]

59 minutes ago, Hesi said:

Yes  in the smaller fields it is shocking

I don't  bet FF place anymore for 2 reasons

1.  Any scratchings and you get even more hammered with deductions

2.  The tote price almost  always closes better than the FF.  Germanicus opened 2.15 FF but tote closed at 2.50

TAB give you no incentive to bet FF because the place prices on faves is draconian 

Not disputing what you are saying but one reason FFP on smaller fields is unattractive is that they still pay three divvies but tote only pays for two 6 & 7 runners.

 

[Blind Squirrel]

Oops just saw MArdi had already said that - my bad

[Maximus]

6 hours ago, Hesi said:

Yes  in the smaller fields it is shocking

I don't  bet FF place anymore for 2 reasons

1.  Any scratchings and you get even more hammered with deductions

2.  The tote price almost  always closes better than the FF.  Germanicus opened 2.15 FF but tote closed at 2.50

TAB give you no incentive to bet FF because the place prices on faves is draconian 

at least they pay out for 3rd on FF in fields  of 7 or less

[mardigras]

8 hours ago, Maximus said:

at least they pay out for 3rd on FF in fields  of 7 or less

Given the lack of risk taken by the TAB though, paying out 3 divs in a 6 or 7 horse field when the market is set to 377%, means the chances of finding something paying more than its chance (whatever that may be), is highly unlikely. So it might be seen as a good move by some, but a negative move as well by some - given they don't also offer a fixed odds, 2 div market.

In such a market with 6 horses all with equal chance of placing, and 3 divs, you'd be wanting $2 div to break even. The odds from the TAB if they assessed them with the same chance would be $1.50 per runner in a 377% market (1.58 per runner rounded to lower 10c). $1.50 is a long way off even break even point. So they would have to err massively to bring about a price that a punter saw as value. (Punters that aren't price sensitive won't care, but even then the odds are very low when spreading an extra 77% fat across 6 runners.)