You've dealt with stranger questions.
Assuming 3 or more horses.
The winning horse has win, place, and show (separate) bets
The Place horse has place and show (separate) bets
The show horse has (separate) show bets
The 3 pools (win, place, and show) have 1200.00 each
Now for the question:
The winning pool gets split up all people who bet on the winning horse.
The place pool 1200.00 gets split up how? Is it split evenly between the
place winners and the win horse with place bets?
Show pool 1200.00 gets split up how? thirds? Half for show and a quarter for
win and a quarter for place?
The question is being debated over a para-mutual golf tourny.
No, I have no money on the outcome, only curiosity.
Ed
On Sun, 22 Mar 2015 23:31:09 +0000 (UTC), John McCoy
<[email protected]> wrote:
>Bill <[email protected]> wrote in
>news:[email protected]:
>
>
>> I made an error here. I should have subtracted the $300 bet from the
>> $996, leaving say 700, and divided it in half. $350 to horse #1 bettors
>> and $350 to horse #2 bettors.
>> So $2P on number 1 pays (1 + 3.50) : 1 or $9.00. $2P on number 2 pay
>> (1+1.75):1 or $5.50.
>> I think I've got it right this time. Sorry.
>>
>> For Show, tax the show pool, subtract the money bet on the 3 horses
>> showing, divide it in thirds, and return it as above. Easy as pie, no?
>
>OK, that was interesting and worth learning. Never know
>when that'll come in useful.
>
>I presume the tracks do that calculation "real time" before
>the race, and that's why the odds change as people bet.
Exactly. That's why you may see different odds with different
bookies, too. ;-) However, if one gets too lopsided (so his odds are
too far out of line with others), they'll lay bets off to another
bookie to even things out. Like the tracks they're not betting, just
holding the money (and often taking less of a "vig" than the
government is).
Bill <[email protected]> wrote in
news:[email protected]:
> I made an error here. I should have subtracted the $300 bet from the
> $996, leaving say 700, and divided it in half. $350 to horse #1 bettors
> and $350 to horse #2 bettors.
> So $2P on number 1 pays (1 + 3.50) : 1 or $9.00. $2P on number 2 pay
> (1+1.75):1 or $5.50.
> I think I've got it right this time. Sorry.
>
> For Show, tax the show pool, subtract the money bet on the 3 horses
> showing, divide it in thirds, and return it as above. Easy as pie, no?
OK, that was interesting and worth learning. Never know
when that'll come in useful.
I presume the tracks do that calculation "real time" before
the race, and that's why the odds change as people bet.
John
On Sun, 22 Mar 2015 15:50:28 -0400, "Ed Ahern"
<[email protected]> wrote:
>You've dealt with stranger questions.
>
>Assuming 3 or more horses.
>
>The winning horse has win, place, and show (separate) bets
>
>The Place horse has place and show (separate) bets
>
>The show horse has (separate) show bets
>
>The 3 pools (win, place, and show) have 1200.00 each
>
>Now for the question:
>
>The winning pool gets split up all people who bet on the winning horse.
>The place pool 1200.00 gets split up how? Is it split evenly between the
>place winners and the win horse with place bets?
Yes. All place bettors are paid equally.
>Show pool 1200.00 gets split up how? thirds? Half for show and a quarter for
>win and a quarter for place?
Yes. Same deal.
>
>The question is being debated over a para-mutual golf tourny.
>
>No, I have no money on the outcome, only curiosity.
Parimutuel means there is a pool that is equally shared between all of
the winners.
Ed Ahern wrote:
> You've dealt with stranger questions.
>
> Assuming 3 or more horses.
>
> The winning horse has win, place, and show (separate) bets
>
> The Place horse has place and show (separate) bets
>
> The show horse has (separate) show bets
>
> The 3 pools (win, place, and show) have 1200.00 each
>
> Now for the question:
>
> The winning pool gets split up all people who bet on the winning horse.
> The place pool 1200.00 gets split up how? Is it split evenly between
> the place winners and the win horse with place bets?
Yes, after the "house" taxes out of about 17% are subtracted. So if
$100 was bet on horse number 1, and $200 was bet on horse number 2, and
horse number 1 and 2 come in first and second, then the $1200 place pool
less 17% (the house profit), $996, is divided in half, so that $448 goes
to the folks who bet on horse #1, $448 goes to the folks who bet on
horse #2. $2P bet on horse number 1 is worth about $9. $2P bet on
horse number 2 is worth about $4.50. "Show" works the same (thirds).
I am not in the industry, all of this is "to the best of my knowledge".
> Show pool 1200.00 gets split up how? thirds? Half for show and a
> quarter for win and a quarter for place?
>
> The question is being debated over a para-mutual golf tourny.
>
> No, I have no money on the outcome, only curiosity.
>
>
> Ed
Bill wrote:
> Ed Ahern wrote:
>> You've dealt with stranger questions.
>>
>> Assuming 3 or more horses.
>>
>> The winning horse has win, place, and show (separate) bets
>>
>> The Place horse has place and show (separate) bets
>>
>> The show horse has (separate) show bets
>>
>> The 3 pools (win, place, and show) have 1200.00 each
>>
>> Now for the question:
>>
>> The winning pool gets split up all people who bet on the winning horse.
>> The place pool 1200.00 gets split up how? Is it split evenly between
>> the place winners and the win horse with place bets?
> Yes, after the "house" taxes out of about 17% are subtracted. So if
> $100 was bet on horse number 1, and $200 was bet on horse number 2,
> and horse number 1 and 2 come in first and second, then the $1200
> place pool less 17% (the house profit), $996, is divided in half,
I made an error here. I should have subtracted the $300 bet from the
$996, leaving say 700, and divided it in half. $350 to horse #1 bettors
and $350 to horse #2 bettors.
So $2P on number 1 pays (1 + 3.50) : 1 or $9.00. $2P on number 2 pay
(1+1.75):1 or $5.50.
I think I've got it right this time. Sorry.
For Show, tax the show pool, subtract the money bet on the 3 horses
showing, divide it in thirds, and return it as above. Easy as pie, no?
> so that $448 goes to the folks who bet on horse #1, $448 goes to the
> folks who bet on horse #2. $2P bet on horse number 1 is worth about
> $9. $2P bet on horse number 2 is worth about $4.50. "Show" works the
> same (thirds). I am not in the industry, all of this is "to the best
> of my knowledge".
>
>> Show pool 1200.00 gets split up how? thirds? Half for show and a
>> quarter for win and a quarter for place?
>>
>> The question is being debated over a para-mutual golf tourny.
>>
>> No, I have no money on the outcome, only curiosity.
>>
>>
>> Ed
>
John McCoy wrote:
> Bill <[email protected]> wrote in
> news:[email protected]:
>
>
>> I made an error here. I should have subtracted the $300 bet from the
>> $996, leaving say 700, and divided it in half. $350 to horse #1 bettors
>> and $350 to horse #2 bettors.
>> So $2P on number 1 pays (1 + 3.50) : 1 or $9.00. $2P on number 2 pay
>> (1+1.75):1 or $5.50.
>> I think I've got it right this time. Sorry.
>>
>> For Show, tax the show pool, subtract the money bet on the 3 horses
>> showing, divide it in thirds, and return it as above. Easy as pie, no?
> OK, that was interesting and worth learning. Never know
> when that'll come in useful.
The calculations show that if your horse comes in place as
desired, then the amount can change substantially depending on the other
horse that placed. This can lead to some interesting betting
opportunities...so you should watch the tote-board before putting down
your hard-earned $2, and estimate your expected payoff to help consider
whether a bet is worthwhile. Of course, with a 17% rake (higher on the
perfecta, trifecta, etc.), I don't think it's hardly ever worthwhile.
>
> I presume the tracks do that calculation "real time" before
> the race, and that's why the odds change as people bet.
>
> John
Thank you all. I now understand
Ed
wrote in message news:[email protected]...
On Sun, 22 Mar 2015 23:31:09 +0000 (UTC), John McCoy
<[email protected]> wrote:
>Bill <[email protected]> wrote in
>news:[email protected]:
>
>
>> I made an error here. I should have subtracted the $300 bet from the
>> $996, leaving say 700, and divided it in half. $350 to horse #1 bettors
>> and $350 to horse #2 bettors.
>> So $2P on number 1 pays (1 + 3.50) : 1 or $9.00. $2P on number 2 pay
>> (1+1.75):1 or $5.50.
>> I think I've got it right this time. Sorry.
>>
>> For Show, tax the show pool, subtract the money bet on the 3 horses
>> showing, divide it in thirds, and return it as above. Easy as pie, no?
>
>OK, that was interesting and worth learning. Never know
>when that'll come in useful.
>
>I presume the tracks do that calculation "real time" before
>the race, and that's why the odds change as people bet.
Exactly. That's why you may see different odds with different
bookies, too. ;-) However, if one gets too lopsided (so his odds are
too far out of line with others), they'll lay bets off to another
bookie to even things out. Like the tracks they're not betting, just
holding the money (and often taking less of a "vig" than the
government is).