Help settle an argument...how much money disappears from our pockets?

[Bruce M 143]

1 hour ago, porky said:

Only being a smart arse here Bruce... But the way the question is posed above...

I would say NONE ! ...who backs 10 winners in a day? no-one !

If you are backing multiple runners per race and wagering based on divs then maybe someone...(less 14.5% takeout)?...Maybe...( no mathmatician)

I wasn't referring to an individual...I meant the $10,000 was the total money in all the pockets which arrived on course.

 

6 hours ago, SMD is rife said:

The actual take out rate for win bets is 14.5%. When you factor in the TABs draconian rounding policy it probably ends up being about 14.75%. 

What were people arguing the amount was Bruce?

I reckoned the amount leaving the course would be about $2000 or so using the calculations you've all used but one of my workmates insisted that couldn't be right as why would anyone be betting at all...hard to answer that!!

[Guest 2Admin2]

We know one thing anyway - the NZRB will report $60k in turnover!!!

[Guest 2Admin2]

Question:  Did those who backed the Lions head to head get less than a one dollar dividend?

[SMD is rife 211]

Fair dinkum - you can't be serious can you?

If someone backed the Lions at $1.08 in the h2h market of course they only got 54c per $1 invested back.

 

 

[We're Doomed 4,855]

4 hours ago, 2Admin2 said:

Question:  Did those who backed the Lions head to head get less than a one dollar dividend?

Yes

[Guest 2Admin2]

On 2017-6-30 at 5:25 PM, SMD is rife said:

Fair dinkum - you can't be serious can you?

If someone backed the Lions at $1.08 in the h2h market of course they only got 54c per $1 invested back.

 

 

Smart arse it was just a simple question raised during a debate with some mates who argued the opposite.  Here's hoping the book was balanced.

[gazza123 51]

On 6/30/2017 at 11:22 AM, porky said:

Only being a smart arse here Bruce... But the way the question is posed above...

I would say NONE ! ...who backs 10 winners in a day? no-one !

If you are backing multiple runners per race and wagering based on divs then maybe someone...(less 14.5% takeout)?...Maybe...( no mathmatician)

yes you have backed ten winners and lost 14.5 % each time,so ittakes alot of mugs to get a payout over a dollar,in theory if bolt and me race 10 times he wins every time but ther is always people who s

ay he might pull a hammy or trip and get the big divvy

[Peter Harrop 226]

On 30/06/2017 at 1:15 PM, Bruce M said:

I reckoned the amount leaving the course would be about $2000 or so using the calculations you've all used but one of my workmates insisted that couldn't be right as why would anyone be betting at all...hard to answer that!!

There's a difference between the theory and the reality though.

Most punters have a bet limit they feel comfortable with (the reality). So taking an extreme case in the other direction, let's say a punter has a bet limit of $100 per race. Then he just about scoops the pool with a $80 shot in the 1st race. Therefore he is the only one left with any money (seeing as how you stipulate that the whole $10k of the collective money of everyone attending was invested in Race 1). This punter will invest $900 more throughout the day, meaning he leaves with about $7k (a $6k profit), while everyone else has done their dough. In this case $7k leaves the racecourse.

You theorise that anyone punting stakes all their money in each race. But they don't. This allows a fair number of people to make a profit, and some of them quite a healthy one, throughout the day.

[porky 900]

take the sensible approach of the hundy dollar bettor Bruce...he would be silly to spend his whole bank in the 1st race !

Looking to select at least a $4 winner...

would/should use a staking plan if he has the patience ...and return to bet 1, when he strikes a winner

(over 10 races)...(could take a month or during a days punting). 

respective bets 1,1,1,2,2,3,5,7,9,11.

Yeah TAB still get their 14% but the punter spells his own demise if he can,t select 1 winner in 10 

[We're Doomed 4,855]

The theory always used to be that the money that walked onto the course is turned over about three times. So if $10,000 walks through the gate on course turnover should be $30,000. Unless roughies win of course in which case money stops turning over,