Re: Horseracing
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Does any of you happen to know how horseracing odds are calculated in France?
I have a racetrack 10 minutes from where I live but still haven't figured out how it works [img]/images/graemlins/wink.gif[/img]
All my googling made me wonder if there is actually some logic behind this madness. The generall horseracing odds were understandable, but well. I can't provide any further information but next time I go I'll get pen and paper and write down what I think how it works.
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If they use pari-mutual (or however you spell it) then they basically take all the money, take their cut and then produce odds on the totals.
EG:
(House cut 20% example)
Horse A: $1000 bet
Horse B: $2000 bet
Horse C: $1000 bet
total bet = $4000-$800 house = $3200 left to be paid out
Horse A $2200-$1000 odds = 2.2-1
Horse B $1200-$2000 odds = 0.6-1
Horse C $2200-$1000 odds = 2.2-1
(Note:they pay back $3200 whoever wins)
I don't want to swear to this 100%, but I'm assuming it's a tote system pretty much like any other. I've bet on it before and it seemed that way [img]/images/graemlins/smile.gif[/img]
Lori
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