Horse Racing Betting: From Fractions to Decimals

Masanevre · 08-01-2010, 09:17

http://www.independent.co.uk/sport/r...e-1858700.html
Its to get younger people involved in it. Does it need such a change. Havent made a bet since the grand National myself of '94 but anyone here a regular who would feel this sort of change is not required?
Thinkiing of You
Mas

kerzo · 08-01-2010, 09:25

Quote:

Originally Posted by Masanevre

http://www.independent.co.uk/sport/r...e-1858700.html
Its to get younger people involved in it. Does it need such a change. Havent made a bet sinc ethe grnad National myself of '94 but anyone here a regular who would feel this sort of change is not required?
Thinkiing of You
Mas

unrealnils · 08-01-2010, 09:27

he thinks you need the change from fraction to decimal Kerzo......

Masanevre · 08-01-2010, 09:35

Sorry I should of said that the bet was placed on mybehalf in '94 I wasnt old enough to make the bet

DavidHasslehoff · 08-01-2010, 09:47

Quote:

Originally Posted by Masanevre

http://www.independent.co.uk/sport/r...e-1858700.html
Its to get younger people involved in it.

Good idea getting younger people involved in betting on the Gee-Gee's. Gives them something to do between under-age drinking and under-age sex

Masanevre · 08-01-2010, 09:52

well its suggesting its suppose to be tempting those aged 18-24 . Sorry I should of made that clearer

unrealnils · 08-01-2010, 11:12

I prefare the fractions to be honest

carlmcg · 08-01-2010, 11:31

Fractions are fine at the bookies, when using exchanges where you aren't actually betting but trading it's got to be decimals. People are making a living out of backing at 1.13 and laying at 1.07 for example and taking the difference, mainly from people who aren't 100% sure what they are doing.

The Bear · 09-01-2010, 14:01

It's about time. The old fractional system is confusing and outdated.

Decimal is much easier to work with since you simply multiply your stake by the odds to give your total return (which is why you add 1 when converting, to account for your stake in the calculation). No need for long-winded calculations to work out how much you win.

The punter would soon realise it is much simpler - £5 at odds of 4.1 = £20.50 total return. Accumulators? Multiply all the odds and the stake together. Easy.

As for squeezing prices, if bookies work out a price is 2.16 decimal, which fractional odds are they more likely to offer - 11/10 or 6/5. The lower obviously giving you less value. I'd argue that decimal would give punters more accurate odds.

I also know a bookie/odds-compiler who works for SportingBet and I agree with what he says on this too:

Quote:

Britain is the only country that uses this pounds shilling and pence antiquated system of prices. The vast majority of punters in this country under 30 use decimals as standard now anyway. The biggest betting site in the UK Betfair has never used anything but decimals. Theres very few prices that don't neatly convert to decimals. Very little will change at all in terms of margin, and some will work in the punters favour. 15/8 becomes 2.9 for example and 13/8 becomes 2.65. Won't stop the paranoid punter from moaning that the bookmaker is cheating him though, because nothing ever does.