im sure theres a valid answer for this
 

so at ascot today,,pick 4 prices
3rd 148.00
4th 8.60
5th 34.60
6th 42.50

and the pick 4 for a buck pays 130.00?
am i reading it right? if so
how the hell can that be right or true?

Is the payout you are calling the "pick 4" actually called the "quadpot"?

If so, it's a 4-race place bet not a 4-race win bet.

Furthermore, the placings can include up to 4th place depending on the size of the field.

rollo
 

geez im not sure ur probably rite