Probability, Odds and Random Chance

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Probability, Odds and Random Chance This worth of 30 represents the amount of profit for the bookmaker if he will get bets in good proportions on every of the horses. For example, if he takes £60, £50, and £20 of stakes respectively for the three horses, he receives £a hundred thirty in wagers however solely [...]

Probability, Odds and Random Chance

This worth of 30 represents the amount of profit for the bookmaker if he will get bets in good proportions on every of the horses. For example, if he takes £60, £50, and £20 of stakes respectively for the three horses, he receives £a hundred thirty in wagers however solely pays £a hundred back (including stakes), whichever horse wins
Source: Probability, Odds and Random Chance

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