Hiow would YOU bet on his race?

[admarlow]

all odds on all 6 horses are 2/1, you can bet each way and you have 10 pounds to spend. - Answers on a postcard lol

[factor-fiction]

Whose race?
It wouldn't happen- the bookies would be wiped out.

[factor-fiction]

Sorry- misread it, I thought you meant you got 2-1 for an each way bet.

[admarlow]

it happens every week at a charity race night, anyway this is a maths question it doesn't have to actually HAPPEN!

[Old_Geezer]

Pocket the £10 and go to the pub.

[admarlow]

F-

[sandyRoe]

I'd want to be the bookie. If each of the runners has an equal chance of winning then the odds should be 5-1.

[admarlow]

but you have to pay out for each way places!

[factor-fiction]

I don't really understand how each way bets work (I think it's to finish in the first 3) but the odds and amounts paid out are set to reflect the overall odds.
These odds are stacked in favour of a bookie but as it's for charity I suppos ethe charity is the one that benefits here.
For the expected return I don't think it matters whether you put it one one horse (bigger potential win, less chance of winning), or spread it around among all six or make each way bets (guaranteed return but will be less than your stake).
The only way i think you can win is to place it on just 1 or 2 horses and hope it / one of them wins.

[Old_Geezer]

Not that I can be bothered to work it out since I have pocketed an F- plus £10 and I'm in the pub stress-free with a pint: but the answer looked for is likely to be putting some on one to win, putting the rest in smaller amounts on the others to cover losses as much as possible, knowing the race will inevitably have 1 winner plus 2 places, unless you get 6 fallers (which would be my luck).

[admarlow]

how about 3 horses with 3 pounds each and hope for each way wins??

[R1Geezer]

2 - 25p each way round robins give the best chance.

[jomifl]

since the only real chance of making a profit by betting is to bet once only and I have done that then I would take OG's advice..

[chakka35]

You all seem to be assuming that the horses are 2-1 against. But admarlow says they are odds on, which makes a huge difference.

[society]

I'd go 50p each way on all 6 horses.

[factor-fiction]

chakka- I don't think he said the odds were 2-1 on: he said the odds on the horses were 2-1.
I don't understand how each way bets work exactly but I still think whatever you do the odds are stacked in the bookkeeper's favour here. But it's for a good cause.

[Mick-Talbot]

2 - 25p each way round robins give the best chance.


eh?

wouldn't the max you get back be £6.25 ?

[chakka35]

factor30, he said that the odds ON the horses were 2-1, not that the odds AGAINST the horses were 2-1. Nothing could be clearer. Until admarlow clears that up, further discussion is pointless.

[Azalian]

Nobody would bet each way at odds of 2/1

[Azalian]

And theres only two places on races with less than 7 runners

[Mick-Talbot]

all odds on all 6 horses are 2/1


that can not be made any clearer chakka.
as Azalian has stated , nobody of sound mind would bet e/w at odds of 2/1