Probability & Statistics (24 of 62) Calculating the Odds and Horse Racing
HTML-код
- Опубликовано: 29 сен 2024
- Visit ilectureonline.com for more math and science lectures!
In this video I will calculate the odds on, and odds against in horse racing.
Thank you to Rafeal Ortega who helped me understand how horse racing and horse betting is done.
Next video in series:
• Probability & Statisti...
lol...this is so bad. The odds of a 7-2 payout haven't changed. If you bet $2 on a 7-2 horse, you will get back $9 and you WIN $7, NOT $5. The odds on the likes vs. dislikes of this video currently sits at a 7-2 payout, spooky!
I agree that betting on horses is difficult. But it's insanely more difficult if you place your wagers where this guy bets and Bronco pays 0/1 and Silver or whatever it was pays 5/2 odds on a 7/2 bet. I did enjoy the video, however. The thought of someone betting a favorite with zero opportunity of return "because he's most likely to win" is hysterical.
Another great video! Thank you, Professor.
Where are you getting 9 from?
7 + 2 = 9
This is a Google answer, legit the exact same answer
Worse then saying nothing he is wrong!
even means you make your stake as a return, not a zero income.....
Well I think you can tell by public opinion you don't understand how odds/betting works at the transactional stage! Shame to spoil a video over such a simple principle, it distracts from the rest of it!
I bet almost daily. Payout you explained is wrong. 7/2 odds means on a win bet you get $3.5 for every $1 you stake plus your original stake.
Since the minimum stake on a win bet is $2 then betting the minimum would yield a total $9 back of which $7 is profit.
It’s still that way today (as far as I know) so whoever told you otherwise mislead you with bad info.
lol, yea, this was awful
Totally agree with some others here. Michel is WAY of the mark. Odds of 7/2 from a $2 would return $9 and not the $7 stated and the Gain would be $7 and not $5. This is very SIMPLE arithmetic that he has wrong and is not just about horse racing. Notice your mistake Michel and scrap this video OR use it to show how we can all make very basic mistakes.
He said you get the 7 and the 2 back which equals 9 with a 7/2.
@u2bmusicman This guy is clueless when it comes to horse racing. Why did he make up some strange rule that does not, or ever have, existed that you don't get your money back when you win? Close to the end he stated if you bet an even money shot you win $2 so get your money back with no gain. What kind of moron would ever bet on those terms. If the odds were 1/2 on his terms and you placed $2 then of course you would get back $3, but why did he not carry on and say that you get $1 back so in fact lose a dollar!! On a winner!!! At the end he states horse racing is a bad investment. If what he is saying was true it would not just be a bad investment rather you should be roped up and placed in a van with a jacket where the arms fold back and secured with nice silver buckles. Ridiculous that this video is still here teaching poor mathematics.
you made a mistake, 2 to 2 means you get your original $2 wager back PLUS 2 more dollars
Exactly. He is wrong because for every 2 dollars you will get back 4dollars if the even money favourite wins.
Hou are both wrong. The track throws in 10% on an even money WIN. So, for a bet on:
Race number 3,
$2,
Win, on
horse #5
(going of at 1:1 at post time)
And your horse does win, then you get back;
$2.20.
Be sure to write the track a thank you note! Ha ha ha.
Typos. Ugh sorry.
Math is correct.
He’s right in the USofA
But you shred correct in the UK
This explains nothing.
The odds they put on the horse don't matter. Assuming that exactly ONE horse will win, the odds depend on how many horses are in the race. If there are 8 horses, the odds of ANY one horse winning are 1 in 8 AT WORST. With 15 horses, 1 in 15.
Horse racing betting has a bad reputation, but your odds are a lot better than they are with lottery tickets, by factors of thousands, maybe millions.
What i learned :
1. Odds are kinda interesting
2. Horse racing is a scam
I know someone who has lost a LOT of money betting on horses.
I know a lot of people who've lost on lotteries.
He is very wrong about the payouts. What he said about the even money payouts its so illogical. If "not silver" wins it pays .77 for 2. So you lose 1.33 even when your horse comes 1st.
Visit the UK! you still get your stake back if you win!
You lost me immediately
This is glorious, I have been researching "bet race horses" for a while now, and I think this has helped. Have you ever come across - Siyackson Nonpareil Solution - (do a search on google )?
It is a good exclusive guide for discovering how to get winning horse racing betting tips minus the normal expense. Ive heard some decent things about it and my m8 got excellent results with it.
Great video content! Sorry for the intrusion, I would appreciate your initial thoughts. Have you researched - Riddleagan Profit Key Remedy (Have a quick look on google cant remember the place now)? It is a great exclusive product for learning how to bet on horses without the headache. Ive heard some interesting things about it and my BF after many years got astronomical success with it.
Kudos for the Video! Excuse me for the intrusion, I would appreciate your thoughts. Have you considered - Riddleagan Profit Key Remedy (Sure I saw it on Google)? It is a good one off guide for learning how to bet on horses minus the headache. Ive heard some great things about it and my BF at very last got amazing results with it.
This is just superb, been searching for "what is a good win % for horse gambling" for a while now, and I think this has helped. Have you heard people talk about - Siyaria Nonpareil Superiority - (search on google ) ? It is a good one of a kind guide for discovering how to bet on winning horses without the headache. Ive heard some extraordinary things about it and my cousin got excellent success with it.
@@recargat662 don’t listen to this prick
🤪
🙂
WRONG you are returned 9 dollar for Silver.
Worst explanation I've heard in years.
if you only get $7 back ,thats 5/2 ,the 5 profit plus stake that bookie holds.
If you win you will get your original bet returned.
yeah at 5/2 ,if you have 2.00 on and get 7 back ,thats 5/2 ,that what i said .not 7/2 in video .@@raygriego2670
odds payout haven't changed they just write it as a decimal ie 7/2 = 4.5 (odds with stake)
3.5
@@apgradedgaziz7336You're both right but if you check a horse racing chart, it will say 3.5 - 1.
Sir where are you the numbers 2,7,9
Where did the 2 come from?
The odds on a horse are calculated based on previous performance against other horses and the horses they are scheduled to race again in the upcoming race. The odds are usually announced.
The (for practical purposes) meaningless odds are based on previous races that horse has run.
In every case, if only one horse can win, your odds are 1 chance out of whatever number of horses are running. The internet tells me that usually between 8 and 15 horses.
Wow, I suspect you have never had a bet in your life, jeex oke, go to betting school first before attempting to teach
why would you bet on a horse and if you win and you make no money it makes no sense,
Not sure where they got this guy, but basically every single thing he said was 100% wrong. I'm guessing he never bet on a horse and is completely clueless but they wanted him to lecture about a topic he knows nothing about.
Mathematically the definitions presented here are correct and as it is applied to horse racing is applicable. But how horse betting is done, I am no expert. Anyone who is an expert is welcome to explain it to us here.
I hear horses make good neighbors.
This clearly isnt to be taken seriously
How to create horse racing odd's line
With method please
Guide me
If the bet is 7/2 if the horse wins total is 9 and there's a tax taken out and u get around 8
Do they take the tax out immediately, or is that something you pay at the end of the year?
Dude - love your videos!!!
Excellent Video clip! Forgive me for chiming in, I would appreciate your opinion. Have you ever tried - Riddleagan Punting Profit Remedy (Sure I saw it on Google)? It is a good exclusive product for learning how to get rich on the horse racing without the hard work. Ive heard some interesting things about it and my m8 after a lifetime of fighting got astronomical success with it.
Sir, please help me with this problem.
I want to assign win probability % by using ONE number.
Example
Horse
1)98
2)90
3)94
4)87
5)79
The higher the total the faster the horse
(Think Beyer speed Figures)
Can you help me do this?
Thank you
Unfortunately, with the information given, it is not possible to assign probabilities.
@@MichelvanBiezen Thanks for replying and excuse my ignorance with this subject. Years ago I was able to download an Excel "Calculator" that would give you fair odds and bet odds based on figures for each race runner . These figures were weighted , up to 100% , each pt was equal to 2 Lengths in distance. I could use Class level figures, Fastest speed Figures, Average Speed etc.
This workbook in Excel worked very well for me to identify "Overlays" and I made a lot of money. Sadly, this old laptop crashed and I can't find the link to this Excel sheet.
What other data would you need to calculate in the same way that the Excel sheet I described would do?
I've been playing horse racing for 35 years. If this guy did one minute of research on what he is talking about by opening up a results page on a horse race, he would see how totally ignorant he is about odds payouts. Why does he want to look like a teacher when he is not even qualified to be a student. Wow!
I was thinking he was full of it.
This is glorious, I've been looking for "horse results racing" for a while now, and I think this has helped. You ever tried - Cenaubraay Passionate Fanboy - (should be on google have a look ) ? Ive heard some decent things about it and my co-worker got amazing success with it.
Winner of a video, I've been looking for "horse wagering sites" for a while now, and I think this has helped. You ever tried - Cenaubraay Passionate Fanboy - (do a google search ) ? Ive heard some incredible things about it and my cousin got excellent results with it.
He explaining the equation.
Henry.
He is correct.
So if the odds are 2/4 does that mean they keep my 4 and just pay me the 2? Im a bit confusion.
If the horse wins, you'd get back $6 or a profit of $2. This guy doesn't know what he's talking about.
In this case think of it as a ratio, 7 : 2 which is 3.5 -> 2 * 3.5 = 7, so basically you made 5 $, but the 2$ you don't get back obv.
Which means this is a half money favourite and if you bet 2 dollars on this horse, if it wins you will get back 3dollars. Simple.
He is not explaing properly about the even money favourite
J Fritz ....Wrong. 2/4 is the same as 1/2. On a $2 stake, you get back $3 of which $1 is profit.
It's very interesting to me as beginner there's one thing i don't see the writing on the board
That quality of our older videdos is not as good. We have added ighting and better cameras over the years.
how do you calculate the probability?
The probability would be the ratio of the number of successful attempts (picking the winner) out of the total possible attempts (picking any one of all the horses).
I could use this lesson, I love to bet on horses
i also like to bet on your mother
y bet on horses and wen is 1 to 1 you always give u your bet back so if is 1 to 1 you get 4 an if is 9 to 1 you get your 2 back plus ..20 cents
I like to to think of it as..........a divided by (a+b) and b div by (a+b) . I believe this brings in chance,which is easier to handle than odds.
eg odds 3to1 3/1 = 3/4 1/3=2/4..........
fractional odds of 7/2 for $2 you return $9(gain $7+$2stake) i think the confusion is with decimal odds(more commonly used now) ie 7/2 =4.5(decimal odds) so $2@4.5 =$9
@u2bmusicman no 7/2 is 4.5decimal odds you are calculating like fractional odds ,with decimal odds 4.5 X 2
@u2bmusicman ive worked in the betting idustry for 25 years in the u.k!! pari mutual yes the tote im aware thats in decimals 3.00 equals a 2/1 shot,,you are still incorrect as 2/1 is 3.00 in decimals.the only thing we can be arguing over is if the states show 2.00 as 2/1 and not as in evens here in the uk
@u2bmusicman are you confusing american odds with decimal odds american odds +100 is 2.00 decimal
@u2bmusicman Whole fractional numbers to 1 are easy.
1/1 odds = $2 profit + $2 bet yes so decimal odds are 2.00 for 1-1 odds ...x2 is 4 you are still wrong lol
@u2bmusicman Calculating the potential return for a $100 Bet on Chelsea at 2.270:
Odds x Stake = 2.270 X 100 = 227 see decimal odds show the whole return multiplied by stake you dont need to add the 1 back,just saying i agree that you are as wrong as the guy in the video ,take it easy bud,the u,s racing is keeping our industry going at present ive never wathc so much will rogers or tampa or fonner park!
They always give u back your stake plus the profit
(2/4)/(2/4)
Friеnds I aаm gоing to shаrе with you thе samе sеeсrеt that a smallhаandful оf oоthеr luсky рeорlе havе used to win lоttеry…hеres thе link ==> twitter.com/193b2fa58b0e5bfef/status/742626059930198016 Prоbabilitу Statisticссs 24 оf 62 Cаlculаting thе Odds аnd Hоrsе Rаcing
RIVA DIAZ- THE PRODUCER please send me some exotic betting strategys
I also think this should be the values instead of (2/9)÷(2/9)
A trully suckers game,yet despite noting the rents,staff,betting slips,lighting etc,book makers have to pay,, millions still fall for it.And gaming machines are even worse,for the bookmakers set the odds ,always to give them a handsome profit.so be it with lotteries.In fact one could say that.......Horse sense is that which stops horrses betting on men.
I wouldn't bet on you being able to write a sentence with correct spelling and punctuation.
@@kacwyoI was writing in the vernacular as befits those idiots who gamble; with specific reference, to horse racing.And you may depend that if I am able to spell lotteries correctly, horses would be no problem.Further, with regard to..I wouldn"t bet on you etc ..you may not be familiar with the gerund or past participle..I wouldn"t bet on your being able...otherwise it would read ...I wouldn"t bet on you, which for the moment might be appropriate,but not correct grammar.........howsdtat?