Formula to cacculate the best way to divide my bets so that i get best posible return on horse racing? theoretical only!

[tonywatsonhelp]

Hi Everyone,
My daughter has a project at school and part of it is to do with horse racing and how the odds are stacked against the gambler,
She has wrote a very good (ok she's my daughter! but it is good!) essay on the subject and asked me if I could help illustrate it for her,

well I've never felt so stupid, so I'm coming to you guys again for help,

here's the parameters:

we have any number of horses running from 6 to 12,
we need to be able to name the horses and show the odds that horse got (the bookies show this as 10 to 1 etc. but we can do the calculation on the basis that if you put 10 in a cell that says odds it means 10 to 1, thats fine,
so the winning horse gets its original stake plus the odds back, so 1 to 1 = £10 bet back + £10 winnings,

So I want to show that if you bet on every horse you can't guarantee a win, so I'm looking at a way to calculate how much to spend on each horse to get the best possible result!

its only a project so anything that can do this or something close to it would be fine,
any ideas guys?

Thanks

Tony

 

[ukmikeb]

Hi

If you Google "Dutching Calculator" you should get a few sites returned.

Generally, I think you can enter the SP for up to 6 horses and specify how much profit you wish to make and it tells you how much stake to put on each horse..

Good luck.

 

[tonywatsonhelp]

Hi UK Miked,
Thanks very much, I'm sure that will be fine, i'll give it a try now

 

[shg]

There's a workbook with several examples of dutch and lay betting at https://app.box.com/s/5pt3sgepeuoj8q42lp36