I know this has been discussed at length but i can;t seem to get it too work.

My ratings are as follows

94.3
80.1
62
88.2
72.8
75.6
84.2
72
86.2
77.6
89.5
80.7
60.6

So i added them all up to get a total. Then divided each seperate rating by the total. And then what??

Cheers,
Matt

Wait no i have found one error. You divide the total by the individual rating not the other way round as i was doing previously. Hmmm now what.

TS,

That's not how you do it. Not if you want an accurate guide anyway.

Do you want to price the whole field or just the main chances. To get a simple accurate guide, I personally think you should probably delete the lower rated runners because their ratings can sometimes throw the others out of whack. I think you could look at only the top half of the ratings. In other words, in a field of 13 as you have, you could look at just the top 7 rated runners and delete the rest.

94.3
80.1
62
88.2
72.8
75.6
84.2
72
86.2
77.6
89.5
80.7
60.6

so, now, you're left with:

94.3
80.1
88.2
84.2
86.2
89.5
80.7

Now, here's the important part. A nice easy way of pricing them from here on is to change the lowest rating (80.1) to ONE, and then work all the rest out from there. So to do that, you'd simply subtract 79.1 from all the other ratings:

94.3 - 79.1 = 15.2
80.1 - 79.1 = 1.0
88.2 - 79.1 = 9.1
84.2 - 79.1 = 5.1
86.2 - 79.1 = 7.1
89.5 - 79.1 = 10.4
80.7 - 79.1 = 1.6

NOW, you add up the total of these new ratings, in this case 49.5 and multiply that by 1.2 (to take into account the other runners in the race). That leaves you with 59.4. You now divide 59.4 by each horse's new rating and there you have it:

59.4/15.2 = $3.90
59.4/1.0 = $59.40
59.4/9.1 = $6.50
59.4/5.1 = $11.65
59.4/7.1 = $8.35
59.4/10.4 = $5.70
59.4/1.6 = $37.10

By the way, I have one question. Do you usually do ratings and is that gap of 4.8 between top and 2nd top rated normal, or is it larger than normal???

I don't normally do ratings and this is just a new system i am trying out. Is 4.8 a lot or something? It is for the waterford crystal so i was expecting miss potential to come out a fair bit in front of the others.

Thanks a lot for that sportz.

Don't know. That's what I was getting at. If you did ratings regularly and could tell me if this was an average gap or not, then it would help me work out if I've come up with an accurate set of prices for you.

TS,

I use a different pricing formula with the weight ratings that I do. If you like, I can work out my weight ratings for the race and use that example to show you how I price mine. I'm not sure that it would work with your ratings system though.

Yeh that would be good if it isn't too much trouble.