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Decimal odds are pretty straight forward once you get the hang of them. For standard back bets you simply multiply your stake by the decimal odds to calculate your total return including your stake. Your profit is then your total return — your stake. Trying to calculate place odds for each way bets requires a little more understanding. For example: if we back a horse at For instance, if all but one of your selections wins and the remaining selection only manages to be placed, the WIN element of the bet is void.
The same outcome would occur if one selection wins but the remaining selections only manage to be placed. Still, you will receive a return for the place element of the multiple each way bet. If just one of your selections fails to win OR place, the entire multiple each way bet is void. It is important to remember that should your first selection win, the returns from that bet DO NOT become the stake for subsequent selections.
If one of your two selections wins but the other only manages to place, the win element of the each way double is void. If one of your three selections wins, but the other two only manage to be placed, the win element of the each way treble is void. An each way accumulator follows the same principles as an each way double or treble.
The only difference is that the number of selections made is chosen by the bettor instead of the bookmaker. The each way odds are equivalent to, or are in excess of, 5. The odds are then in your favour, insuring that your win bet and total stake are covered, should your selection finish in a specified place. You are not considering the favourite in the market.
Your selection has high odds but you still feel that it has a very good chance of finishing in one of the specified places. The each way odds of your selection are less than 5. In this instance there is no value in betting each way. If you look at the following online betting slip I have just taken a screenshot of, you will see the following:. Most each way betting systems that you see are mechanical or self selection. This means that they teach you a strategy or pattern to look out for with the majority favouring longer odds.
In terms of what you can expect to be betting on with each way betting systems, the majority are based around horse racing. This is mostly down to the fact that horse racing has a degree of predictability and allows for some value in each way betting. The other place that you will often see each way bets is perhaps surprisingly golf. Given the somewhat unpredictable nature of golf, this does open up a number of profitable opportunities. Balancing out the pros and cons of each way betting can be a rather difficult thing to do.
This is mostly because with modern betting and the availability of exchanges, it always looks like the cons outweigh the pros. There is also the small fact that whilst the advantage of an each way bet was always the ability to back a horse to place.
This has advantages for people who follow each way systems, because if their chosen horse does not win, then they can at least claw back some money. That having been said, the systems that I have seen best make use of each way betting plays of the strengths of both the place and win bet by focusing on horses that are rated as having high value.
By combining this with a strong knowledge of a sport, you can build a system that uses place bets to minimise losses to your betting bank whilst the wins that come in really build your profits. It seems like a very reasonable statement to say that each way betting is very much a niche thing nowadays, and you get many people backing each way on the Grand National as it pays out for positions , and the odds are usually much higher.
The problem is that betting markets have opened up so many different avenues of profiting that it no longer seems like a viable strategy. When things go right for an each way betting system however, they can be some of the most solid examples that I have seen — profits-wise. This type of betting does require iron discipline though. The fact is that each way betting is a very mixed bag. Others simply see it as a way of wasting an additional point on each bet.
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Sevco Scotland Limited was admitted as an Associate Member of the SFL and its football team, Rangers FC became entitled to play in the third division of the football league of the same name. The SFL was, at that time, organised in three divisions. I understand, but was not present when it was decided , that the members of the unincorporated association which was the SFL, when admitting Sevco Scotland Limited as an Associate Member, determined that its team, Rangers Football Club would commence to play in its third division i.
The consequence being that its owner was obligated to transfer its one share in The SPL Limited to the owner and operator of the club promoted from the SFL. However, in substance the rule regarding relegation had not changed. He believed that so far as the substance of these rules was concerned:. However, he advised that the rules of the SPL also permitted removal of points on the happening of an insolvency event.
He also accepted the contents of paragraphs, 34, 35, 38 and He answered that question as follows:. It follows that if a club is playing in a lower division of the league the following season, it has been relegated. This was despite none of these qualifications being stated expressly in the contact. The defenders were sellers or suppliers in terms of the Regulations. It was further her position that the pursuer was a consumer in terms of the Regulations.
She submitted that when he placed the bet he was doing no more than following his hobby. He was not doing anything, when placing the bet, which could properly be described as his following a trade or profession. She argued that the purpose of the Regulations was to redress the balance in bargaining power between the consumer and the supplier.
That was she submitted clearly an unfair term. If the SPL rules were part of the contract, then the pursuer was bound by terms he had no real opportunity of becoming acquainted with before the conclusion of the contract. This militated against the defenders contended for construction. She argued there had been no attempt to individually negotiate the terms of the bet. To look for a definition in a dictionary is reasonable.
This construction was supported by a number of sources in the press who described Rangers as being relegated. These articles show this construction of relegation reflected common parlance. The defenders had produced no articles to the contrary effect. In such circumstances the defenders knew they could have put within their own rules that the SPL rules applied when bets were being placed on football.
They did not do so. All sports have multiples rules, the ordinary person placing a bet could not be expected to know these, especially given how often these rules changed. The evidence in this case was that the SPL rules had changed on many occasions. Many people placed bets on sports where they knew nothing about the rules of the sport. These rules contained no definition of relegated or relegation.
There was one rule in them which mentioned relegation but it governed ante post bets. She submitted that this was not a sensible construction given the millions of words in the many internal rules of everything upon which they accepted bets would be incorporated into their betting contracts. This was of particular significance given that internal rules may change, as they did in the instant case.
Further, it was evident that aspects of betting rules were different from rules of the sport in question. For example extra time did not count in in terms of Coral rules, whether a bet is a winning one is decided on whether the team won within the 90 minutes, but under football rules what happens in extra time does count to decide who is the winner.
It is important not to confuse mechanisms of relegation with relegation itself. Again she reminded the court that it was not the function of the court to release the defenders from an imprudent bet. This was a betting contract on the outcome of an event which could not be known in advance to either party. The purpose of the contract was to gamble on a future uncertainty. Since neither party could set out the future precisely, taking the ordinary and natural meaning set out above is most consistent with the purpose of the contract.
Both parties were engaged in a game of chance. Some bets the defender has to pay out on, some it does not in which case it retains the stakes. For relegated to have a meaning narrower than that put forward by the pursuer the defenders would have had to make that clear and there were no such qualifying words. The common understanding of relegation was to found therein. It was to be moved from one division to a lower division. Lastly with respect to commercial common sense she said this:.
This points to the court preferring the normal meaning used by the press and dictionaries, rather than reading in additional words cherry picked from disparate provisions in league rules that self evidently are not express in the betting slip, nor in the Coral rules, and were not agreed to by the pursuer.
The defender accepts bets on a wide variety of sports, all of which have differing and changing rules. It cannot be the case that consumers are expected to be aware of and agree to all of these different detailed rules from different bodies. The type of people who place bets punters are most often consumers and ordinary punters who would not ordinarily know about the detailed internal rules of what they bet on.
While punters can be taken to have accepted terms and conditions set out by Coral, expressly referred to on betting slips and displayed on walls of betting shops, they cannot be taken to have accepted all of these other various internal rules of sports. This is particularly so when gambling companies do not apply all of the rules of the sport in question, as the defender self evidently does not. Rather, it is in keeping with common sense that the defender make good on a bet placed with it in good faith after a football team was relegated.
The fact that the arrangement worked out badly for the defender is not a reason for departing from the normal meaning of relegated. A court should prefer this construction and find the bet to be a winning one. He described the evidence of the pursuer in this way:. That tended to support the suggestion that football bets were to be decided by official bodies.
This rule was in the context of individual games, however, there was a close analogy to a bet on relegation or promotion, which in substance was a bet on a series of games. Accordingly one would refer to the official body as to what they say about who won or lost a series of games. They were because of circumstances rendered ineligible to play in the SPL. They thereafter by means of an agreement ended up in a lower league.
The SPL is a rules based organisation. Rather, he was saying:. This particularly applied to something as blunt as relegation. What is relevant so far as background knowledge is concerned is not what was known but what could reasonably have been available to the parties. As had come out in evidence the SPL rules were available on a website. That was enough to make them a background feature. It was impossible to run a betting business, where bets were offered on sporting events without reference to the rules of the relevant sport.
The rules of the sport decide the outcome of the event, it could not work in the context of sporting bets to decide the matter except by reference to the rules of the game. What he sought to take from his evidence was that the odds given and accepted were an important indicator of the proper construction. With respect to each article there were question marks. At root the defenders had not altered their position. The defenders had changed their position only to reflect the possibility of a points deduction arising.
It was clear that the principal source of his income was gambling. Thus the Regulations did not apply in this case. The pursuer asked for a price for Rangers to be relegated, the person behind the counter telephoned the head office, she added SPL and he accepted this.
He was able to influence the substance of the terms, in fact he proposed the terms. For this further reason, the Regulations did not apply. Therefore it could not be an unfair term as it was the main subject matter of the contract. It was his submission that if the court used all of the tools there could be no doubt about the proper construction. I believe he was obstructive when answering questions put to him in cross examination. During his evidence he sought to give the impression of being an ordinary person placing a bet.
It became absolutely clear in the course of cross examination, given the evidence elicited regarding his background in the betting industry and his involvement in gambling at the material time that he was anything but an ordinary person placing a bet. There being no challenge to the credibility and reliability of the other witnesses I found all of them credible and reliable. It was clear from the evidence that the material terms were individually negotiated.
Accordingly for this further reason the Regulations do not apply to the contract. It cannot be correct that the main subject matter of the contract was the stake and the odds. That was the subject of the bet. The term accordingly could not be unfair in terms of the Regulations as it was the subject matter of the contract. Reliance was placed by the pursuer on Schedule 2 i as to how unfairness arose in terms of the Regulations.
I do not believe that this provision has any bearing on the matters before me. What they are using the SPL rules for is to understand the subject matter of the contract. For reasons which I detail later in this opinion I am not in any doubt as to the proper construction of the contract and for this further reason the Regulations have no relevance. They have most recently been elucidated in Sipp at paragraph 17, quoted earlier in this opinion.
That is what is said in the betting slip. In order to arrive at a sound construction the court has to look at the context in which the stipulation is made. What the court is seeking to identify is the ordinary meaning of words in context. The court cannot approach the construction of the bet without having regard to the fact that it related to relegation from the SPL.
To approach it in any other way would be to fail to have proper regard to the context of the bet. What was being proposed by the pursuer appeared to be the answering of an abstract question about relegation rather than the proper question as I have earlier set out. That sale required the approval of at least 8 of the members of the SPL. That application was refused. It was thus no longer eligible to play in the SPL. The foregoing process cannot be described as being moved by anyone to a lower division, or being moved down or demoted.
The dictionary definitions are not apt to cover what happened to Rangers. I am satisfied that what did not happen was that the SPL moved or demoted Rangers to a lower division. Miss Poole argued that these were irrelevant as rules of one contract could not be read into another contract without being incorporated in some way.
To do otherwise would be to render the content of a bet on a particular sporting event wholly lacking in clarity. He in addition accepted that people would not bet on sports unless they knew the rules, that is without a general knowledge of the rules of the sport they were betting on. That is where one finds the natural and ordinary meaning of a sporting term. The natural and ordinary meaning of a sporting term is the definition of that term within the rules of that sport.
In order to give context to a sporting term such as relegation the reasonable person goes to the rules of the relevant sport. The sound construction of such a term is to be found in the rules of the sport. It cannot I believe be said that in terms of the outcome of a sporting event or series thereof a dictionary definition should be preferred to the definition contained in the rules of the relevant sport.
The outcome of such an event would be lacking in clarity, if reference were not made to the relevant rules. The outcome cannot be left to other means. That argument was as follows:. They were following their relegation to the SFL, found to be unable to guarantee they could fulfil their fixtures and it was decided in those circumstances they should play in the 3 rd Division of the SFL. However, that did not happen due to ongoing financial difficulties.
For the reasons I have already stated the fact that a few journalists described this as relegation is nothing to the point. The evidence regarding Gretna in no way assists the pursuer with respect to the construction he places on relegation, so far as clubs being relegated for match fixing, this related to Italy and absence of licences related to Wales. The only evidence before the court regarding these matters were a few articles describing these events as relegation.
I have already given my reasons for not attaching any significance to such articles so far as the issue of the proper construction of the contested phrase which is before the court. I accept that is a relevant background consideration. It is, I am persuaded, impossible to determine whether a particular sporting event has occurred other than by references to the rules of the sport. It would be impossible for a betting business to be run and for it to offer bets on sporting events without reference to the rules of the sports.
Bets on sporting events could not be offered except by reference to the rules of the sport. There is no alternative in a sporting context to such an approach. For these reasons I am persuaded in this case that commercial common sense is a significant factor in arriving at a sound construction. First it is a rule which does not apply to in running bets. The bet before the court was an in running bet.
Secondly it relates to a league system where there are divisional playoffs and there was no evidence before me that at the material time divisional playoffs were a feature of the SPL or SFL. This tended to suggest that in the absence of them doing so the appropriate sports rule applied. According to the latest surveys, something like two-thirds of uk adults says they regularly play the lotto.
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