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| Subject:
Football odds
Category: Miscellaneous Asked by: drtishlv-ga List Price: $4.50 |
Posted:
07 Oct 2005 03:57 PDT
Expires: 06 Nov 2005 02:57 PST Question ID: 577458 |
I recently placed a bet on a football parley card in Las Vegas of $50. The odds were quoted at 8 for 1. Upon winning, I was paid $350 for the win,(7 to 1) and $50 more for my original bet, a total of $400. I , of course was expecting to collect $450, $400 (8 to 1) + $50(original bet). I am a medical doctor, took statistics in college and never heard of 8 for 1 odds. Please explain. |
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| There is no answer at this time. |
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| Subject:
Re: Football odds
From: research_help-ga on 07 Oct 2005 06:17 PDT |
You got paid 8 times your original bet, hence 8 to 1. Why do you think you get your bet amount back on top of that? If you buy a $1 lottery ticket and win $10,000 prize, do you think they give you $10,000 or $10,001? You don't get your original bet amount back on top of your winnings. Since you mention your strong math aptitude, I am wondering how you figure that 8 X 50 = 450? I assure you that 8 X 50 = 400. You can confirm on a calculator if necessary. |
| Subject:
Re: Football odds
From: drtishlv-ga on 07 Oct 2005 14:12 PDT |
Sory, but you obviously have never been to Vegas. If you bet $100 on a straight up 1 to 1 bet, you win $100 and you get your $100 original bet back, you get paid $200. If it was a 2 to 1 bet you win $200 and get paid $300. I thought my bet was 8 to 1, so I should win $400 and get my $50 back-total-$450. Again, the bet was advertised 8 for 1, not 8 to 1. What is the difference. |
| Subject:
Re: Football odds
From: snitcherboy-ga on 09 Oct 2005 19:11 PDT |
There is a difference between 8 for 1 and 8 to 1. In Craps for example be careful, there are 5 for 1 bets for example. This means that you get 5 total for your 1. 5 to 1 means that they give you 5 times your bet. |
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