The Show Bet

[blackthroatedwind]

Originally Posted by ranger5830

5 percent of 100 million is 5 million, not 500,000. But beyond that, the bigger problem is that the bet-taker is also liable for the takeout on the 100 million, on top of paying out the 5 million in this example. Some of that is mitigated by the fact you would have significant play against such a huge wager, because theoretically anything can happen in a horse race, but not nearly enough to cover the expense.

Thanks for saving me some time.

We also aren't even touching on what happens in those rare situations when an inordinately large show bet creates the "can't lose unless you mispunch" 2% opportunity.