Betfair 3TBP Market

[MontyHarris]

Arguing with a mate the other day about working out the odds for a place in the reinstated 3TBP market.

Maybe someone can settle this for us.

In a 6 runner race where the prices to win the race are

3.70

4.20

5.50

6.80

6.20

and 36.00

What should the prices be in the 3TBP market.  Is it a straight No of runners (6) divided by number of places (3)? If so the above prices should be half of the win price. I.e. the 3.70 horse should be 1.85, the 4.20 horse should be 2.10 etc. or is this too simplistic? If there is a more complicated formula I'm sure somebody on here will know about it and will be ready to point me in the right direction.

Thanks for reading

Monty

 

[Pirate53]

Definitely too simplistic/unrealistic. (You'd never get near 18 for a place on the 36 horse).

I'm not sure there is a formula. The market is driven by punters opinion, which as we know varies wildly! If you are getting 1/4 at the bookies for a place in an each way bet then 1/5 to 1/7 for place only is reasonable.

[Yalwen]

Thanks for your reply Pirate. As always, good to hear from you.

This conundrum is still confusing me. What I don’t understand is that if a horse is backed to place in a 6 horse race, ignoring form for the moment, then it has 2 chances to get you the money, in the 3TBP market it has 3 chances to get you the money albeit at reduced odds. I was just thinking that there maybe a formula to determine the fair odds vis a vis each other.

However, your reply makes sense. I’ll put this on one side and move on.

Back to the drawing board, looking for an edge - again.

Monty.