Quote:
|
Originally Posted by hi_im_god
let's see...
if i'm correct and the horse should be 3-1, he's going to win 25% of the time and i'm going to collect $22.00 for every $2.00 bet when it hits.
so, for every $8.00 invested I make a $14.00 profit.
That's a 175% roi.
if you could accurately predict a horse would be itm 99/100 times and it returned $2.10 for every $2.00 bet, you'd win $0.10 99 times ($9.90) and lose $2.00 once for a total profit of $7.90 on $200.00 bet. that's a roi of 3.95%.
|
Fallacy. The notion that the horse "should" be 3-1 is purely subjective. He is actually 10-1. Base your numbers and ROI on the 10-1 probability.