How are payoffs more than the pool?

[green80]

Originally Posted by MONEY

You're not getting it.

Let's say that after takeout there is $9,000.00 in prize money left in the super pool.
If just one person hits it for $2.00, he would collect all $9,000.00.

An only winner that bet just 10 cents, would also get all $9000.00.
In this case equibase would report the $2.00 payoff as $180,000, even though there was no $2.00 payoff.

If one person hits for $2.00 and another one hits for 10 cents,
The one that hit for $2.00 would get $8,571.42, the 10 cent winner would get $428.57.

10 cents goes into $2.00, twenty times so the $2.00 winner gets twenty times what the 10 cent
winner gets, and the total adds up to $8,999.99. The track keeps an extra penny.

If only two people hit it for $2.00, the winners would get $4,500.00 each.
If only two people hit it for $1.00, the winners would still get $4,500.00 each.
If only two people hit it for 10 cents each, each winner would get $4,500.00.

So if you have the only winning ticket you would get paid the same amount if you had a 10 cent ticket or a 2 dollar ticket? If you are betting longshots where is is possible you would have the only winning ticket why not bet a bunch of 10 cent tickets rather than 2 dollar tickets.

[thespaah]

Originally Posted by VigorsTheGrey

All US tracks ought to report all wagering outcomes based on a $1 wager regardless of the minimum wager amount...that form of standardization, IMO, would be welcome by nearly everyone...

I think it should be the minimum for the respective track. Just post a note on the site indicating that.
Simple.

[thespaah]

Originally Posted by green80

So if you have the only winning ticket you would get paid the same amount if you had a 10 cent ticket or a 2 dollar ticket? If you are betting longshots where is is possible you would have the only winning ticket why not bet a bunch of 10 cent tickets rather than 2 dollar tickets.

"If you are betting longshots where is is possible you would have the only winning ticket why not bet a bunch of 10 cent tickets rather than 2 dollar tickets."
BINGO!

[ubercapper]

All charts will display exotic payoffs based on the minimum amount in the near future.

[DGroundhog]

Originally Posted by MONEY

You're not getting it.

Let's say that after takeout there is $9,000.00 in prize money left in the super pool.
If just one person hits it for $2.00, he would collect all $9,000.00.

An only winner that bet just 10 cents, would also get all $9000.00.
In this case equibase would report the $2.00 payoff as $180,000, even though there was no $2.00 payoff.

If one person hits for $2.00 and another one hits for 10 cents,
The one that hit for $2.00 would get $8,571.42, the 10 cent winner would get $428.57.

10 cents goes into $2.00, twenty times so the $2.00 winner gets twenty times what the 10 cent
winner gets, and the total adds up to $8,999.99. The track keeps an extra penny.

If only two people hit it for $2.00, the winners would get $4,500.00 each.
If only two people hit it for $1.00, the winners would still get $4,500.00 each.
If only two people hit it for 10 cents each, each winner would get $4,500.00.

This.

There is no real effort to deceive with a life changing score in this case.

The track chooses a standard price they want to display for every pool to their betting public. Usually it is a $2 price for WPS bets. Some tracks like this $2 standard and will display all prices as a $2 price to the public via their field board or video displays. Some tracks like that inflated $2 price being displayed even if there are only a few dime winners and the total payout of the pool was nowhere near the $2 price. Some tracks like showing the 10 cent price to advertise the 10 cent super being available as an option.

The data sent to someone like Equibase likely either gets their stats in a standard format or standardizes it themselves.

Things get weirder still when you have Canadian winnings or other foreign winnings that involve a conversion rate. Usually Canada has to bet 2 candian dimes, so there might be like 14 cents in US winning dollars.

[DGroundhog]

There is no real effort to deceive with a life changing score in this case.

I meant this in regards to Equibase displaying their info.

An individual track might use a payoff like that to advertise a life changing score. That has absolutely happened.

[AstrosFan]

Originally Posted by ubercapper

All charts will display exotic payoffs based on the minimum amount in the near future.

I don't believe that for one second. I also can't believe that Equibase doesn't have a second chart caller at certain tracks in racing today. How cheap can you possibly be as a company?

No wonder this game is failing right before our eyes.

[VigorsTheGrey]

Originally Posted by ubercapper

All charts will display exotic payoffs based on the minimum amount in the near future.

That is great, provided that the minimum bet amounts are shown adjacent to the listing as many tracks have different minimum amounts, most commonly Harness, and do not listed the minimums, so we still won't know...