Author Topic: Betting absurdities  (Read 1478 times)

marty998

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Betting absurdities
« on: April 06, 2015, 12:56:20 AM »
Most of us would consider ourselves relatively immune to the lure of a punt/wager.

The curious amongst us who do gamble would be the type who would stop and actually consider the odds you are getting.

Each November we have a horse race (the Melbourne Cup) where it is considered unpatriotic not to have a flutter. A certain unnamed bookie whose face was plastered all over the footy for much of the past couple of years offered $10 million(?) I forget how much, for a $10 bet if you could pick the order of the first 10 past the post (in a field of 24).

The odds of doing it, assuming the weight handicapping means each horse is an equal chance, was 1 in 7,117,005,772,800 (that is, 1 in 7.1 trillion).

I thought that was silly (naturally). But then, another betting agency has come out with something even more ridiculous.

If you can pick the finishing order of the AFL ladder this year (18 teams) your bet will win $100 million!

Assuming the salary cap means that all teams are an even chance, the odds of picking the correct order are 1 in 6,402,373,705,728,000 (i.e. 1 in 6.4 quadrillion).

I think, for a $5 bet, the prize should be $30,571,334,444,851,200 (allowing for the usual 4.5% bookies margin / $1.91 line).

Are there any other absurdities like this you have come across? Things that go beyond the usual silly lottos odds?

Anyone actually think they can pick the AFL order this year? I'll have a go...

Hawks
Swans
Power
Dockers
Tigers
Cats
Kangaroos
Magpies
Crows
Giants
Bombers
Dees
Bulldogs
Suns
Eagles
Blues
Lions
Saints


deborah

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Re: Betting absurdities
« Reply #1 on: April 06, 2015, 01:10:58 AM »
I once worked with someone who was a race better (is that the word?) who bet on the first 3 in the Melbourne Cup several months out - so it included a field of all the horses who had entries in the cup (which I found out was considerably more than what would start). I think he was given odds like these. He lost (I don't think any of his picks actually made it onto the field).

As I don't bet, I was definitely not on his list of people to talk to, until I mentioned that I had relatives who owned race horses, and others who worked in the industry including people who trained race horses.