Split Bets (Each Way)
There are several ways in TBM that multiple bets can be placed.
If you remember in the Market Placement Screen there are 5 options for how you want to handle your bet/s on any selection.
The Single Bets available are, Single Win Market, Single Place Market and Single Extra Place Market.
The Split Bets available are, Split Win and Place Market or Split Win and Extra Place Market.
View the Market Placement Screen Topic if you need to refresh your memory.
Split Bets are essentially the same as Each Way Bets. Instead of a single Each Way bet with a standard bookmaker we place 2 bets covering the Win Market and Place Market. The ratio between the amount placed on the Win and Place Markets can be customised to suit our own systems. In the screenshot below, a ratio of 25% is used. This means that if the stake was £10 then £2.5 would be placed in the Win Market and £7.50 would be placed in the Place Market.
Split Bets are tricky to handle in TBM as our potential winnings are not known until we have a result in. If the selection won the race outright you would win both the win Bet and place bet. Where as if the selection came second you would only win the place bet. When we know the result we can calculate the combined odds. For instance if from our £10 bet we came out with £2 profit we can use a combined odds of 1.2.
Because we are unable to ascertain the combined odds until the result is in, Split bets are not suitable for staking plans where the Stake is calculated on the odds of the bet. Staking Plans that are affected by this are -
Secure, Fixed, Kelly, Bookies Bank V2, Recovery Type 3, SAW, Lay Liability, Lay Mixed, Lay Maria and Lay Kelly.
If any of these staking plans are selected and you have instructed TBM to place a Split Bet then NO bets will be placed at all for that system.
Lets see how TBM treats a Split Bet. To keep things simple we will use a Back Level Staking Plan.
In the screenshot below I have selected Trap 6. Bet Placement 60 seconds to the off. Ratio of 25% Win Market, 75% Place Market. Total Stake £2.
You can see in the Record of Today's Bets that 2 bets were placed. £0.5 at odds of 4.2 in the WIN market and a second bet of £1.5 at odds of 2.36 in the Place Market.
In the below screenshot - we have gone to the Series and Settings screen for System 1. We can see the bets have been combined. Temporary odds of 1.51 have been used. These are the odds that would be returned IF the bet was dutched to equal profit. The bet is always shown as a Loss whilst waiting for the result to come through.
Notice the selection has been prefixed with the #SBP. This simply means Split Bet Place. If we had split the bets in the Win Market and Extra Place Market this would of been #SBE for Split Bet Extra.
The results are in. If both bets lost we carry on using odds of 1.51 as it makes no difference to the profit. In this instance we will cheat and say the Place Bet Won. The actual odds matched are also updated.
This means the profit is -
£1.50 * (2.4 - 1) = £2.1
£2.1 - £0.5 = £1.6
This means our £2 stake has returned a £1.6 profit.
This means our combined odds is 1.8
£2 * (1.8 -1) = £1.6
This is reflected in the updated screenshot below.
Split Bets can also be used in Lay Staking Plans. Again only where the odds are not used in calculating the stake used.
Let us have a look at Lay Level/Perc. Staking Plan. I have archived the current bet in System 1 and switched to Lay Level/Perc. Staking Plan this time with a stake of £1.
The bet has been split as before. 25% on the Win Bet or £0.25 and 75% on the Place Bet or £0.75.
This is shows up in the Series and Settings Screen as a combined bet with odds of -1.26. This assumes both bets lost with a total loss of -£2.26. In order to reflect this in a staking plan we have used negative odds. Negative Odds can only be applied to Lay Split Bets and Lay Dutch Bets. Single Bets are not effected by this and will always display their actual odds.
The actual results are now in. The dog won the race so both bets lost. The actual odds matched have been updated automatically.
Our Series and Settings Screen now looks like this -
Lets cheat and make the dog come second. So this means the first bet is a winner.
This is now reflected in the Series and Settings as -
We still lost over the 2 bets and the combined odds is now 0.04. And now lets make them both winners. This would mean we win our stake of £1. The odds for a combined lay bet is therefore always 2.
Remember this method of displaying the odds only applies to Split Lay Bets and Dutch Lay Bets. Not Single Bets.