Yeah, 8.50 is different though; that's decimal odds. That's the point I was making. Fractional odds work under a slightly different system - 8.50 in decimal odds is the same as 15-2 in fractional odds, where the post Skippos made was suggesting it'd be 17-2.
Prince is right. Historically, fractional odds mean your stake back plus the profit as outlined by the fraction. I should know, I work for the TAB. I would run a virtual Tote here, but I doubt anyone could act sensibly enough for it to work without real money being on the line.
The stickies teams look dire IMO. I would rate Dempseyville better than 8/1. People are seriously under-rating the Brumbies players.
This is the problem, of course. Well, I can't see the harm. It'll take at most 10 minutes to sort out.
We'll start off simple with the Tote and see if people can be sensible. You have $100 to spend on any of the clubs to win the tournament. You can bet on more than one club, but you can't spend more than $100 in total. The pool takeout rate is 25% (i.e. 75% returned to customer) and totalisator fractions will be retained by the TAB. Obviously, the size of the pool is Nil at the moment, so use the fixed odds as a potential guide to how the Tote will work out.
Just split your $100 on who you think would win... e.g. Gemmellland $50 Fung Lakes $10 Kovas Point $40 Once we've had a few bets placed, I can post what the current Tote odds are, but until there's some investments in the pool, any bet would return 75% of 100% of the pool.
