Help.. ****ed a horse race bet up!

Westie · 11 Nov 2011 at 14:03

Friend of mine last night asked me to put a bet on for him for the 13:45 race at Cheltenham today on a horse called "Havingotascoobydo" and ive only just woke up as i didn't finish work to the early hours this morning and forgot to put the bet on for him.

he was at 13/2 at the time so the guy asked me to put £2.50 each way (i have no idea what this means as i never ever bet other then the odd footy bet) the horse actually came in 2nd so how much do i owe him? he gave a £5 to place the bet with?

please help lol

Thanks

Mark

fez · 11 Nov 2011 at 14:06

Don't know a lot about betting but I thought that "each way" bets come in at quite different odd to just the win. Was it 13/2 on the win or when you wanted to do "both ways". At any rate, you won't owe him very much.

Mat · 11 Nov 2011 at 14:06

You don't owe him anything. Get him to place his own bets.

Edit: You owe him the £5 he gave you.

Abyss · 11 Nov 2011 at 14:07

He would have won £6.56 so barely worth worrying about.

Uther · 11 Nov 2011 at 14:07

£4,627,942.86 I think at those odds...

Castiel · 11 Nov 2011 at 14:08

You owe him about £13500...........

*this may not be true*

Alphington · 11 Nov 2011 at 14:08

£6.56

Cosimo · 11 Nov 2011 at 14:08

Lets see, I make that £260 after tax.

Pestilence · 11 Nov 2011 at 14:08

Left nut, I'm afraid.

div0 · 11 Nov 2011 at 14:09

Abyss said:
He would have won £6.56 so barely worth worrying about.

So you either just owe him his £5 back, or if you feel bad about not putting his bet on for him, then give him £6.56.

jas72 · 11 Nov 2011 at 14:11

maths homework?

lcg · 11 Nov 2011 at 14:14

Just give him back the £5. If he really wanted to place a bet he should have done it himself.

FNGsam · 11 Nov 2011 at 14:16

You owe him your first born I'm afraid. Its in the Bro code somewhere

rubberduck · 11 Nov 2011 at 14:23

An interesting question here is... If you hadn't placed the bet and the horse didn't win a penny, would you give him his money back?

FNGsam · 11 Nov 2011 at 14:24

pre1twa said:
An interesting question here is... If you hadn't placed the bet and the horse didn't win a penny, would you give him his money back?

Ooh this is true. OP didn't actually oversleep just wanted an extra fiver but the horse did alright in the end...

'Wes · 11 Nov 2011 at 14:41

You had me worried until i read the bit after horse.

Fred · 11 Nov 2011 at 14:53

2.50 each way, would be 2.50 for a win and 2.50 to be placed 1st,2nd,3rd or 4th.

Since it came in 2nd, you lose 2.50 bet for a win, but win on the 2.50 for a place.

2.50 @ 13/2 is ((6.5 / 4) + 1) x 2.50 = 6.56 (which includes the stake of 2.50)

6.5 = 13/2
/4 is for a place (as you get a quarter of the odds),
+1 is to include your original stake

So basically he would have only won 1.56

Something like that anyway.

Globul · 11 Nov 2011 at 14:54

Sounds like mathematics home work to me

8t10 · 11 Nov 2011 at 14:58

FNGsam said:
Ooh this is true. OP didn't actually oversleep just wanted an extra fiver but the horse did alright in the end...

Heading towards opening your own betting shop going down this route

Mucky_Pup · 11 Nov 2011 at 14:58

Globul said:
Sounds like mathematics home work to me

I somewhat don't think they teach the in's and out's of gambling at school

unless you go to a gambling school, in which, they probably do