if a horse wins a race and the odds were 3-1 and the horse payed $4.00 how much money will a person win if that person placed a $100.00 bet on that horse?
$300.00 i think at 3-1 $100 bet
First of all if the horse was 3-1 it would have paid S8.00. However if you bet $100 on a horse that pays $4.00,which is even money, you will recieve $200.
If you placed $100.00 on a horse to win at odds of 3-1 and the horse wins you'll get a return of $400.00 of which $300.00 is profit and $100.00 is your original stake.
There's a number of online calculators you can use to work this out, like this: betting calculator
If you find out let me know.
3-1 odds pay $8.00 for a $2 bet figured this way - $2 bet times odds of 3 to 1 is $6 plus original bet of $2 = $8 ($2X3+$2=$8). Hence $100 bet times 3 = $300 plus original bet of $100 = $400 gross payoff. To obtain 'profit' amount subtract $100 original bet from $400 gross amount received to arrive at $300. Shortcut for profit is muliply odds times amount bet (3 X $100 = $300). Shortcut for gross amount to receive is bet amount ($100) times payoff for $2 bet ($8) divided by 2 (because $8 payoff is based on a $2 bet) or $400.
I think I am correct in that if the odds were 3 to 1 and you bet $100, you would get the $300 pay-off plus the initial $100 bet paid back to you.
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