King wrote:fathersonsfl wrote:King wrote:WTF fatherson, you're a hard man!!!! I would want to see a bit better than $3.60 to invest my hard earnt!!!!!!
If you think the head to head is fair, then all I did is multiple them as it would basically be an all up bet.
Yep fatherson, understand your approach. However if you back them individually you spread your risk and accept the individual prices. To take the double you double the risk and there should be some premium in the price for the risk. I would think $4.50 / $5.00 is closer to the mark but I'm a tight arse Banker not a Bookie!!!
By multiplying the odds, the risk increases and hence the price increases according to the bookies determined level of risk for each wager. What you are suggesting is that premium should be offered on top of the determined prices when by multiplying it that has already been accounted for.
According to @fathersonsfl:
$5 on Reynella @ 2.1 = $10.50
$5 on Flagstaff Hill @ 1.7 = $8.50
2 successful individual bets would net $19
$10 on Reynella @ 2.1 into Flagstaff Hill @ 1.7 = $35.70
That price is reflective of the combined risk as assessed by the individual prices.
Basic bookmaking.