Caveat emptor in the Champion

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.

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3 replies
  1. Stuart says:

    Not exactly on-topic, but I really love that cartoon you’ve used! Having just turned 50 and becoming more like Victor Meldrew by the day, it put a genuine smile on my face. Thank you. :o))

    And thanks for the tip too, of course… good advice, as ever.

  2. AdrianR says:

    Hi Ian, Thanks for pointing this out. But I don’t agree with your final paragraph.
    If those firms are taking it as a foregone conclusion that Frankel will win, then discounting him leaves seven runners. Ordinarily there would be two places at a quarter the odds. These would be for the two horses finishing second and third behind Frankel.
    So firms offering two places on Saturday are in effect offering one place on a seven runner race?

  3. stuart says:

    Surely everyone looks at the terms before placing any bet? Especially each way ante-post. The stand out bet has to be Nathaniel. Some people think he is over rated, but he excels on the likely soft/heavy ground and despite what Henry say’s there must be a chance that Frankel will not run. At 9/1 at Ladbrokes first 3. 1/5

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