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Millionaire Fund and I had a chat on his Betfair Promo thread about place pots using a perm with a traders mindset. A difficult concept but it’s something I do now and again.
He suggested a walk through would be good so I took some shots of a pot at Kempton this evening.
Done for minimum stakes just to try to capture one to explain better. Sod’s law it came good, wish I’d gone with normal stakes but did not feel the meet suited me, ho hum. At least you get to see the method.
Placed the bet before first race perm is 24 bets. First race is off, pool is locked £56,174 in the pot (not very good). Do the calc deduct 27% from gross figure (totes take) £41,007 net figure.
Check how the fist 5 legs are doing, in this case 1x2x1x1x1..All good I’m in. Only got the fav in the last (x1 keeps the perm down). OK gonna hedge out to secure a profit, don’t know what the pot will pay so do the calc.
Go to Live pool find worst case result. Add the tickets on 1st, 2nd,3rd and un-named fav = 551.35 divide into net pool figure, this gives at worst £7.43 a line. I have 2 lines call it £15.00.
So go to 6 leg place market lay the runner for £7.00 = liability £2.73 and it’s green with a bias towards the runner placing.
That’s it. If Betfair use a place pot promo again there might be some value in remembering this method…Stakes are relative to your means, but this is a fun bet, large meetings can see the placepot fund soar and sometimes it worth a look at.
Read this in conjunction with info on MF’s Betfair Promo thread..
He suggested a walk through would be good so I took some shots of a pot at Kempton this evening.
Done for minimum stakes just to try to capture one to explain better. Sod’s law it came good, wish I’d gone with normal stakes but did not feel the meet suited me, ho hum. At least you get to see the method.
Placed the bet before first race perm is 24 bets. First race is off, pool is locked £56,174 in the pot (not very good). Do the calc deduct 27% from gross figure (totes take) £41,007 net figure.
Check how the fist 5 legs are doing, in this case 1x2x1x1x1..All good I’m in. Only got the fav in the last (x1 keeps the perm down). OK gonna hedge out to secure a profit, don’t know what the pot will pay so do the calc.
Go to Live pool find worst case result. Add the tickets on 1st, 2nd,3rd and un-named fav = 551.35 divide into net pool figure, this gives at worst £7.43 a line. I have 2 lines call it £15.00.
So go to 6 leg place market lay the runner for £7.00 = liability £2.73 and it’s green with a bias towards the runner placing.
That’s it. If Betfair use a place pot promo again there might be some value in remembering this method…Stakes are relative to your means, but this is a fun bet, large meetings can see the placepot fund soar and sometimes it worth a look at.
Read this in conjunction with info on MF’s Betfair Promo thread..
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