RaceCafe..#1...Tipsters Thread.... Share Your Fancies For Fun...Lets See Who The Best Tipsters Here Are.
Houlahan's Dream

Free bets come with significant deductions

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Having backed the Blues last night ( I know....why?) I got a refund bet on my $30. Sweet. 

But I go to back Kolding today at 3.7....return is 81....mmm....so the 'free bet' is the bet you have Minus the original stake! 3.7 by 30 is 111. Which oddly is the number I should call to report this robbery, or false advertising. 

How can they call this a free bet when the deductions are so severe? 

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It's standard worldwide for returns from bonus bets to not include the stake.

It's a "free bet" in that you put $30 on the Blues and none of your own money on Kolding but still had bets on both the Blues and Kolding. You got a bet on the Blues to make $X profit and, when that lost, the TAB let you have a bet on Kolding to win $Y profit at no further cost ("for free").

Now, if you win a free bet from a TAB promotion like the current Match Three, THAT bet will return the stakes as well as the profit. So you can put your $5 free bet on something at $1.02 and turn it into $5.10 cash you can withdraw. It's been like that for years with those bets and, intentional or not, it's generosity from the TAB that you'll struggle to find from any of the corps.

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21 minutes ago, chiknsmack said:

It's standard worldwide for returns from bonus bets to not include the stake.

It's a "free bet" in that you put $30 on the Blues and none of your own money on Kolding but still had bets on both the Blues and Kolding. You got a bet on the Blues to make $X profit and, when that lost, the TAB let you have a bet on Kolding to win $Y profit at no further cost ("for free").

Now, if you win a free bet from a TAB promotion like the current Match Three, THAT bet will return the stakes as well as the profit. So you can put your $5 free bet on something at $1.02 and turn it into $5.10 cash you can withdraw. It's been like that for years with those bets and, intentional or not, it's generosity from the TAB that you'll struggle to find from any of the corps.

That's wrong. I got one of those match 3 things and you only get the profit, not the stake. So in your example you end up with 10 cents.

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The TAB funds our  racing through the punters losing money.

The TAB's surplus is returned to the Codes for stakes ,plus in 2019 Sports got $10m as their commission.

The TAB thru RITA actually returned more than their surplus.

They need to make money , thats why they ban winning punters.....they give free bets to encourage more betting and of course more of us punters losing.

Which 95% of us do eventually.

It's called business !

If no one lost there would be no stakes other than what clubs could get by nomination fees , gate charges ,sausage sizzles and selling off land and assets !

Horses would be racing for bags of Kumaras.

Sports betting is now 30% of betting ,their returns are a pittance......obviously racing has set up the infrastructure of the TAB ,but Sports will be demanding more of the surplus !

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You folks all make good points.

 

My beef is with the advertising of these things:

image.png.fab717219be8ef2806ad7c50d206f956.png

It says REFUND up to $50 as a bonus bet. It mentions Ts and Cs but in my view, the fact that you essentially say on a $3 winning chance with your $30 do NOT get $90 if it wins, you get $60, to my mind that is a partial refund. That is not made clear in their communications. 

 

I know it sounds grumpy and pedantic. I admit I am both of those. I am also a guy who will never take another of these bets because that was my first one and they are really a stitch up. It's not a refund. It is a chance to bet again with your winnings minus the stake. 

Now I just need to find some nag to put $30 on....minus deductions of course....;)

 

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You say   ...   it is a chance to bet again with your winnings   ...

No, it is a chance to bet again with your loss. That is your original stake which went on a loser.

But the Tab has said if your team loses by 8 or less, you can bet that losing stake (up to $50) again. It is a Bonus bet.

That stake amount is then taken out of your second bet when the calculation is done.

 

Why not just back the Crusaders   or the Hurricanes   or   ...

 

 

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10 hours ago, Jape said:

You say   ...   it is a chance to bet again with your winnings   ...

No, it is a chance to bet again with your loss. That is your original stake which went on a loser.

But the Tab has said if your team loses by 8 or less, you can bet that losing stake (up to $50) again. It is a Bonus bet.

That stake amount is then taken out of your second bet when the calculation is done.

 

Why not just back the Crusaders   or the Hurricanes   or   ...

 

 

Pretty much anybody else.....:D

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4 hours ago, Ohokaman said:

Pretty much anybody else.....:D

Any free bets  OM just get on Aktau over 2000 next up , Moroney has himself some serious horse there imho . Would have won yesterday out half stride earlier . Been given heap of time , Looks a beauty .

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9 hours ago, GOM said:

At the end of the day if you are willing to back the blues you need your arse kicked, especially against the Chiefs. in fact what you shouls be doing is listening to Shad.

Haha, probably correct. No idea who Shad is. I thought there were a shot at home and I figured up to 8 points money back if they lost....what can go wrong?

As it stands they look as inept as ever in closing down a game and making the right decisions at the right times. Barrett will help but by the time he turns up they will be bottom of NZ conference and sitting about 12th. 

I cannot back Wellington or Waikato and I will happily back anyone to beat Canterbury but they look pretty good. Hard to be a rugby fan up in the 09. 

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Yeah nah, I enjoy the race 1 & 2 F/F win bets (if come 2nd,3rd or 4th) you get your wager amount (under $30) as a bonus bet.

BUT..F/F win odds appear shrunk....would be an interesting exercise comparing them to winning tote prices. (don,t have time)

the fact you get a second chance  (admittedly less wager amount) is quite appealing.

    

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On 2/1/2020 at 6:10 PM, Houlahan's Dream said:

 

 

My beef is with the advertising of these things:

image.png.fab717219be8ef2806ad7c50d206f956.png

It says REFUND up to $50 as a bonus bet. It mentions Ts and Cs but in my view, the fact that you essentially say on a $3 winning chance with your $30 do NOT get $90 if it wins, you get $60, to my mind that is a partial refund. That is not made clear in their communications. 

 

 

It used to be a refund when this promotion first started but the TAB have since changed this to a "Bonus Bet".

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Yeah and actually I can see their logic in the way they do it.

 

And yes, it is nice to get two bites of the cherry.

 

Problem is  the second bite is at a reduced rate and I believe their advert is misleading. 

 

I know that now so NEXT time I back the Blues as underdog at home to win, I will know what I am in for....;)

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