Thursday, June 05, 2008
Posted by Johnnymac 10:01 AM
Interesting, although I wouldn't discount the argument that a "guaranteed" 20% return is still pretty good compared to a long shot 500% (5-1) return, but then again, it's still technically gambling compared to making an actual investment.For a horse with those odds, you would have to bet $5 to win $1 -- plus get back the amount you wagered. But there's a saying around the track: If you've got the $5, why do you need the $1? That's why some bettors snub the favorite and take a horse with higher odds to improve their payout. (Like the people who bet on Birdstone in the 2004 Belmont Stakes. With 36-1 odds, the longshot beat Smarty Jones, the horse favored to win the Triple Crown. In that race, a $10 wager on Birdstone returned $370.)
Another way of looking at it is to say that 5 out of 6 times, a bet on Big Brown to win would return something, whereas only 1 time out of 6 would the other bet return money. That's the whole idea of "odds."
0 Comment(s):
Random thoughts from a lawyer, an accountant, a commodities trader, an ex-Marine and a WSOP Main Event money finisher that don't know as much as they wish they did...
Email What's this all about? Poker. Why we like poker. What we have to say about poker. How we play poker.
current
Johnnymac-at-itaintgambling.com
Why isn't it gambling?
ARCHIVE:
09/01/2003 - 10/01/2003
10/01/2003 - 11/01/2003
11/01/2003 - 12/01/2003
12/01/2003 - 01/01/2004
01/01/2004 - 02/01/2004
02/01/2004 - 03/01/2004
03/01/2004 - 04/01/2004
04/01/2004 - 05/01/2004
05/01/2004 - 06/01/2004
06/01/2004 - 07/01/2004
07/01/2004 - 08/01/2004
08/01/2004 - 09/01/2004
09/01/2004 - 10/01/2004
10/01/2004 - 11/01/2004
11/01/2004 - 12/01/2004
12/01/2004 - 01/01/2005
01/01/2005 - 02/01/2005
02/01/2005 - 03/01/2005
03/01/2005 - 04/01/2005
04/01/2005 - 05/01/2005
05/01/2005 - 06/01/2005
06/01/2005 - 07/01/2005
07/01/2005 - 08/01/2005
08/01/2005 - 09/01/2005
09/01/2005 - 10/01/2005
10/01/2005 - 11/01/2005
11/01/2005 - 12/01/2005
12/01/2005 - 01/01/2006
01/01/2006 - 02/01/2006
02/01/2006 - 03/01/2006
03/01/2006 - 04/01/2006
04/01/2006 - 05/01/2006
05/01/2006 - 06/01/2006
06/01/2006 - 07/01/2006
07/01/2006 - 08/01/2006
08/01/2006 - 09/01/2006
09/01/2006 - 10/01/2006
10/01/2006 - 11/01/2006
11/01/2006 - 12/01/2006
12/01/2006 - 01/01/2007
01/01/2007 - 02/01/2007
02/01/2007 - 03/01/2007
03/01/2007 - 04/01/2007
04/01/2007 - 05/01/2007
05/01/2007 - 06/01/2007
06/01/2007 - 07/01/2007
07/01/2007 - 08/01/2007
08/01/2007 - 09/01/2007
09/01/2007 - 10/01/2007
10/01/2007 - 11/01/2007
11/01/2007 - 12/01/2007
12/01/2007 - 01/01/2008
01/01/2008 - 02/01/2008
02/01/2008 - 03/01/2008
03/01/2008 - 04/01/2008
04/01/2008 - 05/01/2008
05/01/2008 - 06/01/2008
06/01/2008 - 07/01/2008
07/01/2008 - 08/01/2008
08/01/2008 - 09/01/2008
09/01/2008 - 10/01/2008
10/01/2008 - 11/01/2008
11/01/2008 - 12/01/2008
12/01/2008 - 01/01/2009
01/01/2009 - 02/01/2009
02/01/2009 - 03/01/2009
03/01/2009 - 04/01/2009
aka "slow roller"
aka "Sunday Stroller"
aka "Chop Suey"
aka "Mo roller"
"Baby's Daddy"
I play poker at Poker.com