Q : Can you explain to me Rule 4 deductions on Early price races.

A : Rule 4 applies to all races where withdrawn horses may affect the betting in a race. When Early prices are offered by Bookmakers on specific races, they do so in the belief that all those horses will run in the race or races. If, during the course of the day, one of these horses is withdrawn, then a Rule 4 deduction will be made on the winning bets in that race, based on the price offered (advertised) on the withdrawn horse by the Bookmaker at the time of withdrawal.

If the advertised price at that time, was bigger than 14/1, then no deduction will be made on the other horses in the race if they win or place. After a horse has been withdrawn, the Bookmaker may revise the prices of the remaining horses in the race, and these revised prices will form a new market .All bets placed on any selections in the race prior to this new market will be subject to the deduction whether in singles, doubles or other multiple bets.

E.g. Imagine if the Favourite or 2nd Favourite or even both are withdrawn from a race because the ground becomes too heavy or too firm for them, then the betting on the remaining horses has to be affected and a new market with a new Favourite or 2nd Fav will be made and quite a few of the other runners will have their prices reduced also. Tattersalls' Rule 4c is a protection for the Bookmakers in a way, to safeguard from being 'hammered', if you like, and if they didn't have this protection over the years, I doubt that we would have many Bookmakers. I hope this helps to explain the Rule 4c in regard to Early prices and in general.

Q : Please could you explain returns on a place bet.

A : As regards place returns, I assume you mean when you have backed a horse Each Way and you want to know how the bookmaker calculates the place part of this bet. Most bookmakers offer place odds in e.w. betting at 1/5 odds or 1/4 odds. If a horse has odds of, for example : 10/1 then the place odds at 1/5 odds = 2/1 (10/1 divided by 5 = 10/5 = 2/1), and if the place odds are 1/4 odds about this 10/1 then the price for calculations = 5/2 ( 10/1 divided by 4 = 10/4 = 5/2 ). Therefore if a person had £10 e.w. 10/1 2nd at 1/5 odds the returns = £10 @ 2/1 = £30 (this is assuming tax is paid on or it is tax free. If you had not paid tax and tax is due then multiply returns by 9% and deduct this from the £30). Another example : £20 e.w. a placed horse at 11/2 (1/4 odds) = £20 @ 11/8 = £47.50 returns. If you were doing a £5 each way double and your selections were placed at 7/1 (1/5 odds ) and 6/1 (1/4 odds), then your bet would be settled as :- £5 place dble @ 7/5 and 6/4 = £30 returns. I hope this explains how the place odds are calculated. If you need any more info then please get in touch. jim@settle-a-bet.co.uk