Ok, ONE last time

[brianwspencer]

Originally Posted by 2MinsToPost

Ok, just ONE LAST TIME help me with how they calculate these payoffs on the Pick 3's...............

It's all parimutuel. It's like a prolonged exacta in many ways.

Think of it this way. If a pick-3 pool is $1,000 and the takeout is say 20%, that means there is $800 to pay out.

Now, Race 1 winner #1 pays $3.80. Race 2 Winner #6 pays $5.60. Race 3 Winner #2 pays $10.00.

Your winning pick-3 is 1/6/2.

It is possible, let's say hypothetically, that YOU are the only player out of those 1000 original different $1 combinations that holds a ticket that says 1/6/2. You win $800.

On the other hand, 9 of your friends took your advice and also hold a 1/6/2 ticket. Now, each of your payout is $80 beacuse you 10 are splitting the pool.

Now imagine that that $1000 worth or original combinations was 1000 different people playing a straight $1 pick-3 ticket 1/6/2. That means that every single ticket was a winner, and now each of those 1000 winners gets a return of $0.80 on their ticket.

These are examples that are extremely impractical, but I find that using examples like this helps me grasp things like this. After the takeout, every winning combination splits its fractional portion of the remaining pool, whether that is one person with the right ticket, or 1000 people all with the same correct ticket.

Did that help at all?