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BET 365 vs Ladbrokes Deductions

West Australian Racing
Backed Emeralds today at Canterbury on both Bet 365 and Ladbrokes.
Put the bets on yesterday, for win and place at roughly the same time and overnight a horse got scratched and there was obvious deductions.
The amount of the deductions were vastly different between the two corporates.
Is this the norm ?
I thought that the formulas for the amount to be deducted should be the same.
For example.
Bet 365 place I took $1.57 and got paid effectively $1.53
Ladbrokes place I took $1.55 and got paid effectively $1.44

I am no maths genius but is one of these companies taking the pizz or is there some logic ?

Comments

  • ChrisChris    5,219 posts
    There’s multiple formulas and they make it up as they go
  • ThunderstruckThunderstruck    7,676 posts
    edited August 2020
    Unaware of any set formula and i think its discretionary but both list the deduction as 7 cents for the place.Tabtouch were 7 and Sportsbet 6 for comparison so all pretty much the same.
    7% of 1.55 = 11 cents so the Ladbrokes figure looks right, it looks like Bet365 have not applied a big enough deduction? Thats my best guess but it looks like you have benefitted Det.

    I'm off to check my one today for Play Hard at Belmont, place prices weren't comparable tho but i will have a look anyway.
  • detonatordetonator    4,360 posts
    edited August 2020

    Unaware of any set formula and i think its discretionary but both list the deduction as 7 cents for the place.Tabtouch were 7 and Sportsbet 6 for comparison so all pretty much the same.
    7% of 1.55 = 11 cents so the Ladbrokes figure looks right, it looks like Bet365 have not applied a big enough deduction? Thats my best guess but it looks like you have benefitted Det.

    I'm off to check my one today for Play Hard at Belmont, place prices weren't comparable tho but i will have a look anyway.

    Bet 365 announced early they were deducting 6 cents. It appears that the deduction was 6% of the winnings only (Profit) as opposed to 6% of the $1.57.
    Ladbrokes have taken 7% of the total return (including stake).
  • ThunderstruckThunderstruck    7,676 posts
    edited August 2020
    Think Bet365's odds drift protector plays a part mate.

    I had Play Hard @ $5 the Place with Bet365 put it on 10.30am yesterday.Aragain came out and the deduction is stated as a hefty(shitty even) 21 cents, actual deduction was to 4.16 which is just under 17 cents..adjusted for price drift? I think so but still too high though.

    As a comparison had the same bet with Sportsbet at a way better $6 the place and they only applied a 12 cent deduction to 5.28.

    So in essence i got a 20% bigger price yet almost a 30% lower deduction..ugghh @bet365 you possibly suck @-)

  • ThunderstruckThunderstruck    7,676 posts
    Bugger me my heads spinning lol..that gets confusing.

    But, you faired better with them than Ladbrokes whose deduction works out correctly at 7% where Bet365 it works out at a 2.5% reduction give or take?

    I'm used to the straight percentage deduçtion of the price taken.Bet365 may be the only one i know that does it differently and in your case more fairly.
  • detonatordetonator    4,360 posts
    Thanks for the info TS.
    There is nothing worse than getting on early thinking you have snagged the good price, only to check the following morning to see a few have come out. Agghh.

    :((

    Thunderstruck likes this post.

  • ThunderstruckThunderstruck    7,676 posts
    detonator said:

    Unaware of any set formula and i think its discretionary but both list the deduction as 7 cents for the place.Tabtouch were 7 and Sportsbet 6 for

    Bet 365 announced early they were deducting 6 cents. It appears that the deduction was 6% of the winnings only (Profit) as opposed to 6% of the $1.57.
    Ladbrokes have taken 7% of the total return (including stake).



    Ah Yep gotcha now i had 21% of my profit deducted with them.
  • ThunderstruckThunderstruck    7,676 posts
    Agree i'd rather take my chances with them all starting and me keeping the early price.

    Not sure i was much help lol but i think u got a better post scratching deal with the final Bet365 divvy.
  • detonatordetonator    4,360 posts
    Yeah maybe TS. 
    Have always accepted the deductions without looking too hard into them but today’s one jumped out at me because similar bets, same time of placing them etc and could compare apples with apples.
    I suppose if we are whinging about how much we are getting shafted by the corps on winning bets, it is far better than the alternative ie no deductions on losing bets. 
    ;)

    Thunderstruck likes this post.

  • ThunderstruckThunderstruck    7,676 posts
    Always good to try and keep them accountable isnt it.. but i'm much the same as you and i wouldn't have even checked but for you mentioning your circumstances

    I actually got hit again later when Weaponson came out too..nevermind we shall suit up again and try and beat them again tomorrow! Or Saturday..
  • paraleticparaletic    3,750 posts
    Ladjokes - made me wait 2mins while my “place” bet on gatting for 2moro was approved by a trader..... the bet was less than $50. I mean cmon lads thats a freaking joke - grow some balls!

    Thunderstruck, Gilgamesh likes this post.

  • FlandersFlanders    1,199 posts
    What are the likely deductions if/when Massimo is scratched from this Saturday's Black Heart Bart Stakes? Apparently it is going to run in the Hannans so it is puzzling that it is in this field.
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