Can someone please *try* to explain odds to me?

[madelyn]

Just goes to show..

I've always said with six or less, it's any horse's race. I remember well the day that Snowy Apparition beat Star of Goshen in the Edgewood Stakes at Churchill while the money was all on Star of Goshen. It was a small field (4?) since once Star of Goshen was "in" no one else would run except for a piece.

[bdw0617]

yeh, but in your crazy sceniaro I won..

giacomo won the kentucky derby

[bdw0617]

Just goes to show..

I've always said with six or less, it's any horse's race. I remember well the day that Snowy Apparition beat Star of Goshen in the Edgewood Stakes at Churchill while the money was all on Star of Goshen. It was a small field (4?) since once Star of Goshen was "in" no one else would run except for a piece.

this is very true

in a 4-5 horse field, in reality all it takes is a bad trip by one horse to open up the prices. versus say there are 9 horses in a field and 3 horses that just tower over the rest. in a 1 horse field you might have a 2/5 shot, but what if he doesn't run his race?

[Mickey the Marcher]

you have to keep in mind, wagering is para mutual


say me, crystal, diomed and Shammy are sitting in a bar. We decide hey, let's play darts. Diomed says hey let's bet some money on the dart game. Everyone else in the bar decides to get in on the game as well.

When it's all said and done, there is 200 bucks on this dart game.

50 bucks on myself
20 bucks on crystal
100 bucks on shammy
30 bucks on Diomed


The way american, para mutual wagering is setup, the person conducting this event, is going to get, 20% of all the money so the adjusted amount is

40 bucks on myself
16 bucks on crystal
80 bucks on shammy
24 bucks on Diomed

(i think that's right)


Okay.

the total amount available is 160 dollars now. I have 40 dollars wagered on me, meaning they are saying I have a 1 out of 4 change of winning, which equates to 4 to 1.

so the odds a

4-1 Brandon
10-1 Crystal
1/2 Shammy
6-1 Diomed


I hope that helps.

No, the odds are

11/5 Brandon --- risk $50 to win $110 for a return of $160
7-1 Crystal --- risk $20 to win $140 for a return of $160
3/5 Shammy --- risk $100 to win $60 for a return of $160
13/3 Diomed --- risk $30 to win $130 for a return of $160

[Shammy Davis]

Crystal wrote:

yeh, but in your crazy sceniaro I won..

I was drunk. Catch me when I'm sober and I'll win everytime.

[Mickey the Marcher]

This is what the pari mutuels payouts would be on the above scenario, or how they would be reported in the DRF, or equibase.

$6.40 Brandon
$16.00 Crystal
$3.20 Shammy
$10.60 Diomed

[Mood Swings]

I like bd's explanation, however Mickey - sorry u have confused me again!

[bdw0617]

you have to keep in mind, wagering is para mutual


say me, crystal, diomed and Shammy are sitting in a bar. We decide hey, let's play darts. Diomed says hey let's bet some money on the dart game. Everyone else in the bar decides to get in on the game as well.

When it's all said and done, there is 200 bucks on this dart game.

50 bucks on myself
20 bucks on crystal
100 bucks on shammy
30 bucks on Diomed


The way american, para mutual wagering is setup, the person conducting this event, is going to get, 20% of all the money so the adjusted amount is

40 bucks on myself
16 bucks on crystal
80 bucks on shammy
24 bucks on Diomed

(i think that's right)


Okay.

the total amount available is 160 dollars now. I have 40 dollars wagered on me, meaning they are saying I have a 1 out of 4 change of winning, which equates to 4 to 1.

so the odds a

4-1 Brandon
10-1 Crystal
1/2 Shammy
6-1 Diomed




No, the odds are

11/5 Brandon --- risk $50 to win $110 for a return of $160
7-1 Crystal --- risk $20 to win $140 for a return of $160
3/5 Shammy --- risk $100 to win $60 for a return of $160
13/3 Diomed --- risk $30 to win $130 for a return of $160

I hope that helps.

no that would been right if it were not for the 20% takeout. The track takes 20% of the money before it hits the pools.


lol now we are bitching about takeout.

[Mickey the Marcher]

you have to keep in mind, wagering is para mutual


say me, crystal, diomed and Shammy are sitting in a bar. We decide hey, let's play darts. Diomed says hey let's bet some money on the dart game. Everyone else in the bar decides to get in on the game as well.

When it's all said and done, there is 200 bucks on this dart game.

50 bucks on myself
20 bucks on crystal
100 bucks on shammy
30 bucks on Diomed


The way american, para mutual wagering is setup, the person conducting this event, is going to get, 20% of all the money so the adjusted amount is

40 bucks on myself
16 bucks on crystal
80 bucks on shammy
24 bucks on Diomed

(i think that's right)


Okay.

the total amount available is 160 dollars now. I have 40 dollars wagered on me, meaning they are saying I have a 1 out of 4 change of winning, which equates to 4 to 1.

so the odds a

4-1 Brandon
10-1 Crystal
1/2 Shammy
6-1 Diomed




No, the odds are

11/5 Brandon --- risk $50 to win $110 for a return of $160
7-1 Crystal --- risk $20 to win $140 for a return of $160
3/5 Shammy --- risk $100 to win $60 for a return of $160
13/3 Diomed --- risk $30 to win $130 for a return of $160

I hope that helps.

no that would been right if it were not for the 20% takeout. The track takes 20% of the money before it hits the pools.

No, it is right, it takes into account the 20% takeout. Read it again.
Total pool = $200
takeout = 20% = $40
Pool after takeout = $160

If $50 is bet, the most the winnings can be is $160-$50=$110, as you get your original stake returned to you.
So $50 is gambled to win $110, therefore the odds are 11/5.

If that horse (poster?) wins, then a $2 bet would result in winnings of $4.40, so $6.40 would be returned to the bettor.