Odds Question

[berminn]

Folks,

Could somebody tell me what the odds would have been on the 3 runners in Punchestowns race yesterday if Punchestowns was a non runner/betting w/o please? Say betting to the same 107% that the s.p’s returned.

Odds were 2/9f , 50/1, 10/1 & 6/1.

Is there a quick easy way of working it out?

Thanks

[Gerald]

I’ll pretend 50/1 is 49/1

Turn the other three into a percentage:-

49/1 = 2%
10/1 = 9.1%
6/1 = 14.3%

This adds up to 25.4%

You are wanting it to add up to 107%

Each percentage chance therefore needs to be multiplied by 107/25.4

Luckily, I’ve already got a spreadsheet open, so I can say that this is roughly 4.2

2% * 4.2 = 8.4%
9.1% * 4.2 = 38.2%
14.3% * 4.2 = 60.1%

8.4 + 38.2 + 60.1 = 106.7

Okay, close enough to 107%

Roughly 11/1, 13/8 and 4/6 ?

[berminn]

Much obliged

[thehorsesmouth]

Why do you pretend 50/1 is 49/1??

[Gerald]

49/1 = 1/50 = 2.0000000000000000000000000000000%

edit: I already know 1/7 = 14.285714%, and that 1/11 = 9.090909%. I don’t know what 1/51 is, so I’d either have to think about it, or use a calculator.

further edit: thinking about it means "1/50 = 2%, 51 is 2% more than 50, so very roughly 1/51 = 2% less than 2%, = 1.96%."

As I’m working to 1 decimal place, this gets rounded up to 2.0% anyway.

[thehorsesmouth]

I dont really have a clue about this, why is 50/1 not 2%?

thanks!

[robnorth]

50/1 is actually 1 chance in 51 of winning, so the percentage is a shade less than 2%.

Rob

[Gerald]

The percentage figure is the number of pounds required to be put on in order to get £100 back, including stake.

It is easier if we look at lower prices.

3/1 is 25%, and not 33%

4/1 is 20%, and not 25%

The odds 3/1 means that the horse or whatever has a 25%, or 1 in 4 chance of winning.

[thehorsesmouth]

Oh right, I kinda get it now, thanks vry much

[Author]

Posts