If i back a horse at 12/1 and when the betting closes and that horse is now 6/1 and he wins i get the winnings

Question

at 12/1 not 6/1 right? This would be with Ladbrokes.

Answer 1

no you get the final odds.....6/1.....$14.00

Answer 2

Depends if you took a price...If you did not take the 12/1,i imagine you will get 6/1...

Answer 3

You get final odds.

--Rags

Answer 4

It depends on how and where you bet.

If you bet with a bookie, you get the 12/1 odds.

If you are betting at a parimutuel window, you will get the 6/1 odds.

Most tracks in the US operate under a parimutuel system, and bookies are hard to find. I know that bookies are more prevelant in England and Ireland, but I believe that bets placed with the tracks there are parimutiel as well.

Answer 5

i work in ladbrokes and if u asked for the price at 12/1 and the cashier has signed it then u will get 12/1, if not i am afraid u only get 6/1...hope u marked the price on it!!! ps any tips?!! i could be doing with a 12/1 winner myself!!!!!!!

Answer 6

Yes you will get it at 12/1,

Answer 7

you will only get 6-1 unless you ask to take the 12-1 at the time of placing the bet

Answer 8

It depends! If this is a normal pari-mutuel bet you would get $14 App for the 6 to 1 bet. If this is a "futures bet" ( like taking the odds on a team winning the Super Bowl) it would be at the higher odds.

Each type of betting has a different pool structure. In booked or futures betting the "oddsmakers" are trying to balance the wagers so that there is near to even money on each side of the bet. IN pai- mutuel the money is pooled and depending on the number of bets(read dollars) on a particular horse a distribution is made.

This does not account for "breakage" and other legal takeouts from the pari-mutuel pool.

Answer 9

you get what you bet at the track

Answer 10

If you take a price with your local high street bookmaker you will always get that price - whatever the final starting price is.

At a racecourse you automatically get the price the horse is at the time when you put the bet on - again regardless of final sp.

Horseracing is full of gambles and it is annoying and frustrating if you haven't taken a price and the horse rapidly shortens.

Early prices do not offer decent value like they used to - say 10 or 15 years ago - as the bookmakers have become more keen and professional in their form study in order to tighten margins and increase profits.

There are about 3 or 4 options to staking

1 - always take sp

2 - back on betfair - you get better odds than sp overall

3 - utilise centrebet - you always get the next best price above     sp

4 - take the price 2 or 3 minutes before the off - horse prices invariably shorten when sp prices are authorised.

all the best and good luck in running

Answer 11

if you got 12/1 it wins at 6/1 you get paid at 12/1

Answer 12

Only if you ask the bookie when you put the bet on at 12/1 to "freeze" the odds or they have written the price on your betting slip. (YOU MUST ALWAYS CHECK)

Other wise you wiil get what price it finished at in this case 6/1.

This goes for ANY bookies.

Made the mistake myself many times mate.

Baz

Answer 13

The odds that you bet at are the odds that pay off.

Answer 14

You have to ask for a back price if you want the odds at the time u place the bet otherwise you get the price it returns at at the close of betting. Sometimes it works out to get a price but it can also go against you if you take a price and then it returns at higher odds e.g 16/1

Answer 15

In North America, even though you picked the longshot 12/1, you are paid off by the 6/1 post time odds.

That would be a cool $14.

But I don't know where you could freeze those odds to get the better payoff.

Answer 16

I TINK ITS 6/1