Mathematics - International Racing - Racehorse TALK harm-plan

Racehorse TALK



Mathematics - International Racing - Racehorse TALK

Author Topic: Mathematics  (Read 20049 times)

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Offline PoisonPen7

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« 2015-Aug-22, 12:44 PM Reply #75 »
Or to use another analogy....

I am racing Rob De Castella and Steve Monthegetti in a two race series of half marathons. We are the only three starters. Bookies put a market for betting on both races individually that are identical.

Winner Odds 1 Percentage
SM $1.90 0.5263157895
RD $1.90 0.5263157895
PP $1,000.00 0.001
TOTAL
1.0536315789

Note the market percentage of 105%

They frame a doubles Market.

Bookie A calculates his odds by the price of the first leg times the price of the second leg - UNLESS you take the same runner to win both then your second leg's odds are halved.

Bookie B just multiplies the odds and does not impose any penalty on taking the same runner:

Winning Combo Bookie A Odds Percentage Bookie B Odds Percentage
SM-SM $1.81 0.5540166205 $3.61 0.2770083102
SM-RD $3.61 0.2770083102 $3.61 0.2770083102
SM-PP $1,900.00 0.0005263158 $1,900.00 0.0005263158
RD-SM $1.81 0.5540166205 $3.61 0.2770083102
RD-RD $3.61 0.2770083102 $3.61 0.2770083102
RD-PP $1,900.00 0.0005263158 $1,900.00 0.0005263158
PP-SM $1,900.00 0.0005263158 $1,900.00 0.0005263158
PP-RD $1,900.00 0.0005263158 $1,900.00 0.0005263158
PP-PP $500,000.00 0.000002 $1,000,000.00 0.000001
TOTAL
1.6641571247
1.1101395042

Note the effect on the percentages for bookie A by applying that formula.

Offline Authorized

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« 2015-Aug-29, 11:53 AM Reply #76 »
Press Statement to win today and today fortnights Golden Rose the real price is $58.50 (6.5 x 9) Ladbrokes does not go half which of course would be $29.95 they go $35.10.



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