PLEASE HELP ME FIGURE THIS OUT?

[asingh573]

long time reader, first time poster

love this site


i am curious if anyone can give me the formula to figuring out mutuel show prices.

Lets take this race Race for example. Can someone please tell me the forumla used to get the show payouts

say in a 8 horse field

there was $200 in the SHOW pool

horses A, B, and C win

A has $20 to show on him
b has $13 to show on him
C has $8 to show on him

what are the show payoffs


lets say 20% takeout


thanks for your help!

[asingh573]

i did a search and found this, please let me know if my prices are right below:
this is what i foind

Pool Gross Total x (1 - Takeout Pct) = Net Pool

For Place:

Net Pool - (Place Total on Horse 1 + Place Total on Horse 2) = Payback Pool

(((.5 x Payback Pool) / Place Total Horse 1) x 2) + 2 = $2 Place Price Horse 1 (before breakage)
(((.5 x Payback Pool) / Place Total Horse 2) x 2) + 2 = $2 Place Price Horse 2 (before breakage)

Show is similar except there are deductions from the Gross Pool for three horses instead of two; and, the Payback Pool is multiplied by .33 instead of .5 for the individual prices.



MY CALCULATIONS:

160-(20+13+8)= 119
(.33x119) / 20 +2 = 3.96 HORSE A
(.33x119) / 13 +2 = 5.02 HORSE B
(.33x119) / 8 +2 = 6.91 HORSE C

[Overlay]

Your calculation is correct, except that you forgot to divide the amount bet on each of the three horses by 2, to represent the payoff on a $2.00 wager.

Take the $200 in the show pool and subtract the take ($40), leaving $160. Subtract the cumulative amount bet on each of the three horses ($41), leaving $119. Divide $119 by three, so that each of the top three finishers receives $39.67 to distribute among its supporters. Then convert the amount bet on each horse to the equivalent number of $2.00 wagers. Those numbers would be 10, 6.5, and 4 for horses A, B, and C, respectively. Divide each horse's share by that number, round down for breakage, and add the amount of the wager back in. Thus, horse A's show payoff would be 39.67/10, or $3.96 plus $2.00, or $5.96, which would be rounded down to either $5.90 or $5.80, depending on nickel or dime breakage. Horse B would pay 39.67/6.5 plus $2.00, or $8.10 with nickel breakage, or $8.00 with dime breakage. Horse C would pay 39.67/4 plus $2.00, or $11.90 with nickel breakage, or $11.80 with dime breakage.

[asingh573]

I GUESS THAT FORMULA MAY BE WRONG BECAUSE I TOOK A RACE AT BALMORAL TONIGHT AND DID THE MATH

THE TOTAL POOL WAS $1360

HORSE A HAD $245
HORSE B HAD $140
HORSE C HAD $104



AND USING THAT FORUMLA I GOT THESE PRICES:

1360 = 1088 NET POOL
A 245
B 140
C 104
1088-489= 599
.33*599/245 +2 = 2.80 HORSE A
.33*599/140 +2 = 3.42 HORSE B
.33X599/104 +2 = 3.90 HORSE C


BUT THE ACTUAL TRACK PAYOFFS WERE

HORSE A: 3.60
HORSE B: 5.00
HORSE C: 6.20


NOW I KNOW THIS FORUMLA IS WRONG UNLESS CHICAGO GIVES AWAY MONEY LOL :liar:

BUT IF ANYONE CAN SHED SOME LIGHT ON THIS FOR ME

I WOULD APPRECIATE IT

THANKS

[asingh573]

OVERLAY THANKS FOR THE REPLY



TRYING TO SEE IF THE BALMORAL NUMBERS WORK BY YOUR FORUMLA NOW

[Overlay]

The accuracy of your calculation will also depend on using the right percentage for the take. (Your hypothetical question assumed a rate of 20%. The actual rate may be different.)

[asingh573]

overlay using your forumla


i got 1360 = 1088 NET POOL
A 245 (122.5 tickets)
B 140 (70 tickets)
C 104 (52 tickets)
1088-489= 599
.33*599/122.5 +2 = 3.60 HORSE A
.33*599/70 +2 = 4.85 HORSE B
.33X599/52 +2 = 5.84 HORSE C


MUCH CLOSER TO THE PAYOUT PRICES AT BALMORAL

thank you sir!!!!!!!!!!!!!!!!!!!!!



i just wish they invented a calculator you can do this without all this math!!!!!!



only if life would be so easy:lol:

[TJC]

These track payoffs work with a 15.5% take out and dime breakage

TJC

[kitts]

Asing-

Cynthia Publishing used to offer a pocket calculator that calculated many things including show payoffs. I own one. Maybe they can help you.

http://www.cynthiapublishing.com

[betovernetcapper]

I used the Cyn Pub tote programs when they first came out in a Mitchell book circa 1984. Great for it's time but not much by today's standards. Save your money. :)

[Vigors]

If you truely want the EXACT AMOUNT to ANY payoff, just ask :

BARRY MEADOWS

[Anderon]

This should be what your looking for Asingh!! :)

[Bill Cullen]

To get a rough idea of what the exacta should pay on a two dollar bet,
multiply the win price by the place price of the horse coming in second.

Bill C