Just to add to this topic because i am bored.....that was writen a long time ago about 10 years if i am correct and the bookies that were stated i think operated in the early 70s.
Things were a bit different back then they would get different prices from different bookies as to keep the percentages under 100% they also played on the fact that would get the winner earlier in the races when the percentages were in there favour rather than later we all know what would happen if you get to the last race with this idea.

Donate this method DOES NOT WORK. I don't know how clearly it needs to be spelled out, read my post from earlier, this method is MATHEMATICALY CERTAIN to fail long term. You will LOSE on it long term. And you may kill yourself.

I'm curious. Can you please tell me how to work out the amount to bet on each dog. You have got me wondering. An example.

Mad Gambler

OK mad gambler here's how you work that out. Say you've got to back three dogs, to profit $100, and they are showing the following odds

A - $3.50
B - $5.00
C - $10.00

Work out each of their percentages, which is done by dividing their price into 100, then turn it into a decimal. So, it is -

A - 100/3.5 = 28 (rounding these) = 0.28 as a decimal
b - 100/5 = 20 = 0.2 as a decimal
c - 100/10 = 0.1 as a decimal.

Total the decimals. In this case, it equals 0.28+0.2+0.1 = 0.58.

Turn that figure back into odds, to do this simply divide the decimal into 1. So, it's 1/0.58 = $1.72.

Therefore, the sum chance of all three of your runners combined is $1.72 that one of them will win.

So, you need to know how much you'd have on a $1.72 chance to win $100. To work that out, divide the price - 1 into 100. In this case: 100/(1.72-1) or 100/0.72, which equals $139. So, you've got to have $139 on to win $100. We can see this is right because if you had $139 on something at $1.72, your collect would be $239, for a profit of $100.

So, your outlay for the race will be $139 to profit $100. Last thing to work out is how much on each dog.

Given that the sum total of their decimal chances is 0.58, then you know that the $139 will be divided across that 0.58 chance. Simple way to work out how much on each, therefore, is divide each dogs decimal chance into the sum of all the decimal chances, and multiply this by the total outlay.

Simply put -

A - dec chance = 0.28, bet size = 0.28/0.58 * $139, or 0.48*$139, or $67.
B - dec chance = 0.2, bet size = 0.2/0.58 * $139, or 0.34*$139, or $48
C - dec chance = 0.1, bet size = 0.1/0.58 * $139, or 0.17*$139, or $24

So, A has a bet of $67, B has $48, C has $24, for a total of $139.

To check the maths, if any of them should win, you'd collect:

A: $67*3.5 = $235, minus the outlay = profit $96 (below $100 because I rounded the decimal at the start)
B: $48 at $5.00 = $240, for a profit of $101 (again, rounding of A to blame for the $1 discrepancy)
C: $24 at $10 = $240, for a profit of $101.

If you'd done the maths to proper decimals etc you'd end up with figures pretty much right on $100, but I couldn't be ************ed typing those decimals.

So, that's how you do it.

Now - the reason this system WON'T WORK, is because sooner or later, the more dogs you have to back, eventually the sum total of your decimals will be greater than 1.0. When that is the case, it is IMPOSSIBLE to back all of them and win. That's just the simple true maths of percentages and odds.

If you don't believe me, go to a TAB website, choose a dog race. Work out how much you'd need to have on #1 to win $100. Then, work out how much on #1 and #2 combined, using the above method. Then, use #1,2,3 combined. Continue in this manner, and you'll see that when the percentages get above 100% (decimal above 1.0), you're SCREWED. LOST your BANK, and possibly your HOUSE.

This system is DANGEROUS, and should not be used, not in ANY form.

Heh, heh, just read your post on page 1 Duritz, pure gold.
KV

Duritz,
You definitely are waffler of the year. Remind me of gr-----.

No worries, Duritz. By the time anybody goes through all of that, the race will be over anyway and they'll have saved their money!

Yeah well that is the other aspect - without a computer it's impossibly time consuming, esp given that the odds change so quickly. And even then, you can't operate it successfully b/c the odds on dog racing change far too much in the last 30 seconds and after they jump.

KV - cheers!

"THEY" tell me that although there is a difference in individual races regarding SP v Pre-Post odds, in actual fact there is very little difference "ON AVERAGE", so................ it follows that is Pre-post odds are taken it is possible to operate this thing. Sure sometimes the odds are wrong and you come unstuck but ON AVERAGE the odds are also over sometimes which evens things out????

Even if that's true, PP, you'll still end up doing your bank when it takes too long to repeat. Guaranteed. There is NO escaping that, no matter what. Even if you happily win your $20 for 365 days straight, on the 366th you can quite easily give back your whole $7320 profit if you miss the winner.