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Originally Posted by brianwspencer
the win calculations do seem off, however i've done the place pool calculations more than once and keep coming up with the number your winner should have paid to place being $~9.15, not $11.
is my math bad here? where did i go wrong?
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You need to subtract 18% of $12,077 from $12,077. 18% comes out to $2174. You need to subtract the amounts bet on the 1st and 2nd finishers from the pool too. They had $833 and $1,446 on them which comes out to a total of $2,279. So after you subtract the $2,174 and $2,279 from the pool you are left with $7,624. Then you need to divide that by 2. That means that there is $3,812 left for each horse. If you have $3,812 by $833, that means that the winner should have paid 4.57-1 to place. That is 9-2 odds on the place, so the horse should have paid $11 to place.