In horse races a favorite is 1 to 5. How is it possible to win with a $2.00 win ticket?
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I know it is arithmetic and even money is like $4.20 with a $2.00 win. But with a 1 to 5 odds is it better to choose the next in line which is 8 to 1? This is no race imparticular but with the Derby in May What if one horse is so favored above the other entrys? What is the best strategy? Do you bet a $100.00 and win $100.20 or go for 8 to 1 with a $5.00 win and hope the favorite gets boxed in on the back stretch?
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Answer:
If I got the math right, a 1:5 favorite would pay $2.40 on a $2 bet, so you would win 40 cents.
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