Each-Way bet on betfair?

[xcode]

Hi guys, I have a question that is bothering me for some time. I put each ways on betfair like this: half of my stake on win and half of my stake on to be placed. Is this correct? Because when I follow someone who places an each-way bet on some other bookie, and the horse is placed, he is winning something. While on betfair I am not. Example: yesterday I put 5 euro on Nemorosa to win at 4.20 and 5 euro on Nemorosa to be placed at 1.60. And at the end I lost 5 and won 3 so I am -2 euro from the event. Am I doing something wrong here? Regards,

[fintron]

Re: Each-Way bet on betfair? You aren't doing anything wrong, it is just that the odds on Betfair for the place are less than the place odds from the each way bet from a bookmaker (the reason for this is that is is easier to pick a horse to place than it is to win and punters using the place only market on betfair don't need to 'waste' the win part of their stake like those betting each way with a bookie do, so the Betfair prices shorten to take this into account). In order for your bets on Betfair to break even you need to be backing horses with a place only price of 2.0 or greater. The odds you took of 1.6 are less than this, something around 4/7. The horse you had backed may have been in a race where the each way terms were 1/5 odds paid on 3 places, in which case if the horse was anything less than 5/1 with a normal bookie, you would not break even in the event of a place. If you took 4.2 then you were backing a horse that is 3/1 with a normal bookie.