StoneyPA
StoneyPA
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Joined: Oct 21, 2012
October 21st, 2012 at 7:55:26 AM permalink
Say you're looking to pick two golfers in a field and looking to find the overall odds that one of them will win the tourney. How is this accomplished with example odds like this for the individuals?

Golfer #1: +250
Golfer #2: +750
Croupier
Croupier
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October 21st, 2012 at 10:17:28 AM permalink
Quote: StoneyPA

Say you're looking to pick two golfers in a field and looking to find the overall odds that one of them will win the tourney. How is this accomplished with example odds like this for the individuals?

Golfer #1: +250
Golfer #2: +750



I dont quite understand what you are asking. The with the odds you posted generally the bigger the + number, the less likely the golfer is to win in the eyes of the bookies, so the higher the return.

so if you bet $100 dollars on golfer 1 and he wins, then you win $250
and if you bet the same $100 on golfer 2 and he wins you win $750
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dwheatley
dwheatley
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October 21st, 2012 at 11:06:22 AM permalink
Assuming those lines are fair with no vig:

golfer 1 has a 100/350 = 2/7 = 28.6% chance to win
golfer 2 has a 100/850 = 2/17 = 11.8% chance to win

So the probability of either winning is 2/7 + 2/17 = 40.3%
Wisdom is the quality that keeps you out of situations where you would otherwise need it
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