Something Is Wrong at Remington Park

[brianwspencer]

Originally Posted by Rupert Pupkin

The place payoff was wrong also. there was $12,077 in the place pool. The winner had $833 bet on him to place. The second horse had $1,446 bet to place. That means the winner should have paid $11 to place yet he only paid $9.00 to place.

the win calculations do seem off, however i've done the place pool calculations more than once and keep coming up with the number your winner should have paid to place being $~9.15, not $11.

is my math bad here? where did i go wrong?

[Rupert Pupkin]

Originally Posted by brianwspencer

the win calculations do seem off, however i've done the place pool calculations more than once and keep coming up with the number your winner should have paid to place being $~9.15, not $11.

is my math bad here? where did i go wrong?

You need to subtract 18% of $12,077 from $12,077. 18% comes out to $2174. You need to subtract the amounts bet on the 1st and 2nd finishers from the pool too. They had $833 and $1,446 on them which comes out to a total of $2,279. So after you subtract the $2,174 and $2,279 from the pool you are left with $7,624. Then you need to divide that by 2. That means that there is $3,812 left for each horse. If you have $3,812 by $833, that means that the winner should have paid 4.57-1 to place. That is 9-2 odds on the place, so the horse should have paid $11 to place.

[brianwspencer]

i did all the same things you did, coming up with $3,812 per horse.

With a total of $833 bet to place on the winner, that is 416.5 two-dollar payoffs that need to come out of that money, which equals roughly nine dollars.

i dont understand where the extra money would come from

[Rupert Pupkin]

Originally Posted by brianwspencer

i did all the same things you did, coming up with $3,812 per horse.

With a total of $833 bet to place on the winner, that is 416.5 two-dollar payoffs that need to come out of that money, which equals roughly nine dollars.

i dont understand where the extra money would come from

You forgot to add $2. The people get their original $2 back. If a horse is 7-2, they don't pay $7. They pay $9. If a horse is 9-2, they pay $11.

If there was $883 left for the horse. He would have paid 1-1(even-money to place), which is $4.00. If there was $1766, left for the horse, the horse should pay 2-1 to place, meaning the payoff would be $6.00. If there was $2649 left for the horse, he should pay 3-1 to place, meaning $8.00. If there was $3532 left for the horse, that would be 4-1, meaning the should pay $10.00 to place.

[brianwspencer]

Originally Posted by Rupert Pupkin

You forgot to add $2. The people get their original $2 back. If a horse is 7-2, they don't pay $7. They pay $9. If a horse is 9-2, they pay $11.

If there was $883 left for the horse. He would have paid 1-1(even-money to place), which is $4.00. If there was $1766, left for the horse, the horse should pay 2-1 to place, meaning the payoff would be $6.00. If there was $2649 left for the horse, he should pay 3-1 to place, meaning $8.00. If there was $3532 left for the horse, that would be 4-1, meaning the should pay $10.00 to place.

gotcha, i forgot to add it back in once we subtracted it out.

my bad.