Tipsters Place Betting system (August) +£30.48 Profit after 1 Day!!!!

[Cassius Marcellus]

Looks like you've done this for every race, mate.

[Tipster5000]

So i have been adding the prices wrong??? I dont get it!!! if i back a horse at 3.0 and stake £2 on it surely i would get £6 back why would i just get £4 back so really that price they are offering is NOT 3.0 its 2.0. If i went to a normal bookies and backed a horse at 3/1 and put £10 on it i would expect £40 back not £30 back. So in other words even though you won you still lose your stake??? Thats wierd.

[Tipster5000]

Can ANYBODY help???????????

[happygooner]

I don't want to be teaching an expert to suck eggs but are you looking at 3.00 as 3/1?

[happygooner]

Originally Posted by Tipster5000

if i back a horse at 3.0 and stake £2 on it surely i would get £6 back why would i just get £4 back.

You're right, you would get £6.00 back inc. stake so £4.00 profit. Is this where the query is

[Tipster5000]

Yes but i am being told that im working the winnings out wrongly?

[happygooner]

Ok but take this one for a start:

Atlantic Sport 2.72 3rd Profit +£5.44

2.72 = 1.72/1 effectively so 2 x 2.72 = 5.44 returned -2.00 stake = 3.44 clear profit

Does that help?

[happygooner]

3.00 = 2/1

[Tipster5000]

Sorry to sound stupid (Which i am) but why do you take the stake off???

[Tulenos]

Because the return on a bet is not profit - return minus stake is - indeed, you rightly expect 4.00 back after backing a 3/1 shot (4.00 decimal) for 1 unit - BUT that 1 unit is your stake and only the other 3 units are the profit (also minus commie @ BF, btw) - in fact, if you place the actual bets @ BF, just go to your P/L and check what the actual profit is.

[Tipster5000]

Thanks Tulenos i get it now having a blond moment even though im not blonde

[GoodGuy]

at least your not going to lose anymore money on this.
cheers