It's not clear here what the system is. Is it a value bet? At £400 stakes? I get that you have value from the EW market, but not why you have bet such a large stake. Is it a tip based bet? We aren't laying anywhere which makes me think value bet....
I think it's crystal clear! - The value is the place part of the bet being significantly higher than true odds (Betfair etc). I wouldn't judge stakes - some are betting £1, while others are betting £100,000 (on football - wouldn't get it down on racing). Everyone should play to their pocket, experience, success and so on! No need to lay when you have value - because its giving value back.
What you say can be interpreted 2-ways: 1. It won't win (6/1 Exchanges with 100% book = 1 will win in 7) 2. You are losing juice on the win odds (true - but not in proportion to the place odds) True Place odds (100% Exchange book) 4/9 = 69.4% Place odds received (book) - Evens (50%) True odds win 6/1 = 14.29% Odds received 5/1 = 16.67% Giving back a point - 6/1 (Exchanges) instead of having to take 5/1 - but getting ''evens'' a place on a 4/9 (exchange) odds is getting a major advantage! I could do the maths to the end - but even a blind person should be able to see the ''theft'' part!
@@wizardracing2810 - In the UK/Ireland - bookies offer fixed odds. Place terms are generally 1/5th the odds - 3 places for 8+ runners. As mentioned in the opening comment: 5/1 = 1/1 place (evens). The true odds on that horse being placed on the betting exchanges (100% book - no bookmaker juice) was 4/9 (1.44) By betting with the bookmaker (who offers 1/5th the odds) - you are getting ''evens'' for what should be 4/9 - but with one catch, you have to bet it in conjunction with the win! While you lose a bit of juice on the win part (higher odds 6/1 on the exchange) - it's more than compensated in the place term. Bookmakers call the ''bad Each Way'' bets
