OZmium Sports Betting and Horse Racing Forums

23rd February 2010, 04:52 PM

Gnarkley

Member

Join Date: Aug 2009

Posts: 60

Quote:

Originally Posted by partypooper

gnarkley, where you're going wrong is that you are thinking that 2-1 = $2 return for $1 not so of course thats even money or 1-1,

if you had $1 @2-1 you would recieve back $3 i.e. $2 winnings + your $1 stake back)

it is a mistake made by many newbies and incredibly by many old timers as well.

Yes Party, that is exactly where I have lost it.
I knew it was in that area but I had no idea what I was missing.
So let's say, if I had lost 400 and still needed to make my target of 100 I need to make a profit of $500 on the next.
Using Peterpan's formula ( many thanks Peterpan), if the next bet was at 2.9 I would need to divide 500 by 2.9 to find the bet. Approx. $173.
This makes my outlay now $573
That is where I'm having trouble;
To make $100 on a 2.1 return I need to bet $96. If that loses I need to make $196 on the next bet @ 2.5. 196 / 2.5 = 79 approx. That will return $197 approx. So I have now outlaid 96 + 79 = 175 for a return of $197 ????
I just don't get it I'm afraid.
Gnarkley

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