Beware if you are having a bet in the QIPCO Champion Stakes on Saturday. With all bookmakers showing Frankel at 1/7, I’ll take it that most bets will be each way, and with eight runners, you might expect to be paid out at one fifth the odds on the horses finishing in second and third places. After all, those are the usual each way terms.
If you are planning a bet and looking for those terms, then make sure you place your bet with Boylesports, Ladbrokes, William Hill or Coral. All the other firms have decided to go a quarter the odds, but only for the second place finisher. It’s a real case of caveat emptor, and there are sure to be some disappointed and angry punters come 4.15.
Nobody from any of the other firms was stepping forward to explain why they were offering such punter unfriendly terms, though no doubt they will claim that they are being more generous by going a quarter on the price. It was left to David Williams, PR manager at Ladbrokes to explain what the odds compilers were facing.
He told the Racing Post, “This race provides really choppy waters for an each way book. It’s an odds compilers nightmare, and we’re in the minority by offering standard place terms. Offering just the two places is a practice that has recently cropped up and only seems to apply to races where there are likely to be eight runners with a heavily odds-on favourite. There are probably two horses (Bullet Train and Master Of Hounds) that have little chance of place money, so you’re left to frame the race around six runners and a 1/7 favourite.”
In effect, what all the other firms have done is take it as a foregone conclusion that Frankel will win, and almost discount him from the market. That allows them to treat the whole race as a seven-runner affair, and offer place terms accordingly.
Don’t get caught out on Saturday.