PUREFORM
Australian Horse Racing
The Edge
We all want to be competitive in everything we do. And no more so that with punting on horse racing.
Success in punting on horses, in fact most things reduces down to an information war - the people with the best information make the smart moves.
Books have been and still are the best source of general information, and this applies at least as much in the art of racehorse selection and staking as in any other field.
Author Paul Segar has produced textbooks which cover all aspects of punting. The books alone stand as a complete reference but also provide 'food for thought'. You can develop / improve your own ideas as well as learn some new techniques.
Each book is written in plain English with plenty of practical examples in each chapter. Browse the contents of each book or email for further information, if required.
Improve your punting knowledge today - buy one or all of these
books.
Read the books but want more? It's time to do a course.
The Pureform Introduction Course uses a computer program to show you how and when to bet and how to do it successfully. Check out the details
The Benchmark Handicapper Course continues from the Introduction Course and gives you further weapons to apply when making quality value selections. More...
The Introduction to Dutch Betting using the Ratings Calculator Course gives you an introduction to betting using the Ratings Calculator computer software. More...
Buy all three books now:
$70 posted
This article brought to you by Pureform discusses that teaser - money back if your horse runs second or third.
*** Bet your horse to win ***
*** And if it runs second or third ***
*** Get your money back (up to $50) ***
*** Get your money back (up to $50) ***
You've no doubt heard or seen this type of ad luring the punter to wager hard earned cash with the added bonus of some sort of attached insurance policy.
The question: Is this bet offered most weekends or at the majors a great one or not?
Bet your horse to win and if it runs second or third get your money back (up to $50). We'll call this the bet.
This bet is like a concession bet.
Those of you that have been around long enough will remember concession betting usually applied to greyhound racing.
The idea with concession betting is if your dog runs second or third you get your money back with the overall price being reduced because of this.
For example, a greyhound showing $5 the win will be $3.50 for a concession wager.
You bet $10 on the dog at $5 for the win then you get back $50 with $40 profit, if it wins. If it runs second or third you lose $10.
The concession bettor will receive $35 for $25 profit if the dog wins but is money back for second and third.
A great way to bet those dogs that ran consistently but didn't win.
Concession betting in Australia appears to be a thing of the past with most probably any concession bookmarkers wiped out. Anyone interested in how to calculate the concession odds is discussed at the end of this article.
So is this bet, Bet your horse to win and if it runs second or third get your money back (up to $50) good or not?
The answer is a definite YES!
Find a bet you would like to take for the win and use whichever service is providing this opportunity.
The bet isn't perfect. There are usually terms and conditions which diminishes its benefits, maybe only on one race, etc, and your bet can always run 4th or worse but either way it is a great opportunity if taken with quality bets (far better than concession betting). Win or lose is not the point. The fact is this bet is a great opportunity to take whenever it is available.
Calculating Concession Betting
The easiest way to calculate the odds is to consider a concession bet as an each way wager.
$2 bet on a $5 chance concession. What are fair odds?
OK, in this case you will bet $1.00 for the win and $1.00 for the place as a pseudo each way bet.
$1 bet at $5 will give $4 profit
Return for the place will be $1, money back.
Total return $5
So the odds are $5 to $2
5 to 2 which is $3.50
A straight win bet return will be $10 with profit of $8 if the dog wins but nothing if second or worse.
Some shrewd bookies could offer shorter odds on the concession runner, instead of $3.50 they could offer only $3. Bookmaker gouging like this back in the day was possible as no one really knew the true odds.
Concession betting gave the punter another bet type. This bet type is useful on shorter priced runners. Once the price exceeds $5 or $6, another bet type could be more appealing.
In summary, forget about concession betting. The bet discussed here is way better. You get the full odds about your chance winning and money back if second or third, (other options like including 4th etc may apply). Use this bet on the favorite in a race where you are certain it will. As you know, nothing in racing is certain, except they will keep running races.