SINGLE PRICE POOL (WIN POOL)
gross pool | = sum of wagers on all betting interests - refunds |
takeout | = gross pool x percent takeout |
net pool | = gross pool - takeout |
profit | = net pool - gross amount bet on winner |
profit per dollar | = profit / gross amount bet on winner |
$1 unbroken price | = profit per dollar + $1 |
$1 broken price | = $1 unbroken price rounded down to the break point |
total payout | = $1 broken price x gross amount bet on winner |
total breakage | = net pool - total payout |
PROFIT SPLIT (PLACE POOL)
Profit is net pool less gross amount bet on all place finishers. Finishers split profit 1/2 and 1/2 (place profit), then divide by gross amount bet on each place finisher for two unique prices.
PROFIT SPLIT (SHOW POOL)
Profit is net pool less gross amount bet on all show finishers. Finishers split profit 1/3 and 1/3 and 1/3 (show profit), then divide by gross amount bet on each show finisher for three unique prices.
SINGLE PRICE POOL (WIN POOL)
gross pool | = sum of wagers on all betting interests - refunds |
takeout | = gross pool x percent takeout |
* for each source: | |
net pool | = gross pool - takeout |
net bet on winner | = gross amount bet on winner x (1 -percent takeout) |
total net pool | = sum of all sources net pools |
total net bet on winner | = sum of all sources net bet on winner |
total profit | = total net pool - total net bet on winner |
profit per dollar | = total profit / total net bet on winner |
$1 unbroken base price | = profit per dollar + $1 |
* for each source: | |
$1 unbroken price | = $1 unbroken base price x (1 - percent takeout) |
$1 broken price | = $1 unbroken price rounded down to the break point |
total payout | = $1 broken price x gross amount bet on winner |
total breakage | = net pool - total payout |
PROFIT SPLIT (PLACE POOL)
Total profit is the total net pool less the total net amount bet on all place finishers. Finishers split total profit 1/2 and 1/2 (place profit), then divide by total net amount bet on each place finisher for two unique unbroken base prices.
PROFIT SPLIT (SHOW POOL)
Total profit is the total net pool less the total net amount bet on all show finishers. Finishers split total profit 1/3 and 1/3 and 1/3 (show profit), then divide by total net amount bet on each show finisher for three unique unbroken base prices.
Table 1: WIN POOL
(Standard Price Calculation)
Sum of Wagers on All Betting Interests = | $194,230.00 |
Refunds = | $ 1, 317.00 |
Gross Pool: | |
Sum of Wagers on All Betting Interests - Refunds= | $192,913.00 |
Percent Takeout = | 18% |
Takeout: | |
Gross Pool x Percent Takeout = | $ 34, 724.34 |
Net Pool: | |
Gross Pool - Takeout = | $158,188.66 |
Gross Amount Bet on Winner = | $ 23, 872.00 |
Profit: | |
Net Pool - Gross Amount Bet on Winner = | $134,316.66 |
Profit Per Dollar: | |
Profit / Gross Amount Bet on Winner = | $ 5.6265357 |
$1 Unbroken Price: | |
Profit Per Dollar + $1 = | $ 6.6265357 |
Table 2: PLACE POOL
(Standard Price Calculation)
Sum of Wagers on All Betting Interests = | $194,230.00 |
Refunds = | $ 1, 317.00 |
Gross Pool: | |
Sum of Wagers on All Betting Interests - Refunds = | $192,913.00 |
Percent Takeout = | 18% |
Takeout: | |
Gross Pool x Percent Takeout = | $ 34, 724.34 |
Net Pool: | |
Gross Pool - Takeout = | $158,188.66 |
Gross Amount Bet on 1st place finisher = | $ 23, 872.00 |
Gross amount Bet on 2nd place finisher = | $ 12, 500.00 |
Profit: | |
Net Pool - Gross Amount Bet on 1st place finisher - Gross Amount Bet on 2nd place finisher = | $121,816.66 |
Place Profit: | |
Profit / 2 = | $ 60, 908.33 |
Profit Per Dollar for 1st place: | |
Place Profit / Gross Amount Bet on 1st place finisher = | $ 2.5514548 |
$1 Unbroken Price for 1st place: | |
Profit Per Dollar for 1st place + $1 = | $ 3.5514548 |
Profit Per Dollar for 2nd place: | |
Place Profit / Gross Amount Bet on 2nd place finisher = | $ 4.8726664 |
$1 Unbroken Price for 2nd place: | |
Profit Per Dollar for 2nd place + $1 = | $ 5.8726664 |
Table 3: SHOW POOL
(Standard Price Calculation)
Sum of Wagers on All Betting Interests = | $ 194, 230.00 |
Refunds = | $ 1, 317.00 |
Gross Pool: | |
Sum of Wagers on All Betting Interests - Refunds = | $ 192, 913.00 |
Percent Takeout = | 18% |
Takeout: | |
Gross Pool x Percent Takeout = | $ 34, 724.34 |
Net Pool: | |
Gross Pool - Takeout = | $ 158, 188.66 |
Gross Amount Bet on 1st place finisher = | $ 23, 872.00 |
Gross Amount Bet on 2nd place finisher = | $ 12, 500.00 |
Gross Amount Bet on 3rd place finisher = | $ 4, 408.00 |
Profit: | |
Net Pool - Gross Amount Bet on 1st place finisher - Gross Amount Bet on 2nd place finisher - Gross Amount Bet on 3rd place finisher = | $ 117, 408.66 |
Show Profit: | |
Profit / 3 = | $ 39, 136.22 |
Profit Per Dollar for 1st place: | |
Show Profit / Gross Amount Bet on 1st place finisher = | $ 1.6394194 |
$1 Unbroken Price for 1st place: | |
Profit Per Dollar for 1st place + $1 = | $ 2.6394194 |
Profit Per Dollar for 2nd place: | |
Show Profit / Gross Amount Bet on 2nd place finisher = | $ 3.1308976 |
$1 Unbroken Price for 2nd place: | |
Profit Per Dollar for 2nd place + $1 = | $ 4.1308976 |
Profit Per Dollar for 3rd place: | |
Show Profit / Gross Amount Bet on 3rd place finisher = | $ 8.8784528 |
$1 Unbroken Price for 3rd place: | |
Profit Per Dollar for 3rd place + $1 = | $ 9.8784528 |
Table 4: SHOW POOL
Single Takeout Rate & Single Betting Source (Net Price Calculation)
Sum of Wagers on All Betting Interests = | $ 194, 230.00 |
Refunds = | $ 1, 317.00 |
Gross Pool: | |
Sum of Wagers on All Betting Interests - Refunds = | $ 192, 913.00 |
Percent Takeout = | 18% |
Takeout: | |
Gross Pool x Percent Takeout = | $ 34, 724.34 |
Total Net Pool: | |
Gross Pool - Takeout = | $ 158, 188.66 |
Gross Amount Bet on 1st place finisher = | $ 23, 872.00 |
Net Amount Bet on 1st place finisher = | $ 19, 575.04 |
Gross Amount Bet on 2nd place finisher = | $ 12, 500.00 |
Net Amount bet on 2nd place finisher = | $ 10, 250.00 |
Gross Amount Bet on 3rd place finisher = | $ 4, 408.00 |
Net Amount Bet on 3rd place finisher = | $ 3, 614.56 |
Total Net Bet on Winners: | |
Net Amount Bet on 1st place finisher + | |
Net Amount Bet on 2nd place finisher + | |
Net Amount Bet on 3rd place finisher = | $ 33, 439.60 |
Total Profit: | |
Total Net Pool - Total Net Bet on Winners = | $ 124, 749.06 |
Show Profit: | |
Total Profit / 3 = | $ 41, 583.02 |
Profit Per Dollar for 1st place: | |
Show Profit / Net Amount Bet on 1st place finisher = | $ 2.1242879 |
$1 Unbroken Base Price for 1st place: | |
Profit Per Dollar for 1st place + $1 = | $ 3.1242879 |
$1 Unbroken Price for 1st place: | |
$1 Unbroken Base Price for 1st place x (1 - percent takeout) = | $ 2.5619161 |
Profit Per Dollar for 2nd place: | |
Show Profit / Net Amount Bet on 2nd place finisher = | $ 4.0568800 |
$1 Unbroken Base Price for 2nd place: | |
Profit Per Dollar for 2nd place + $1 = | $ 5.0568800 |
$1 Unbroken Price for 2nd place: | |
$1 Unbroken Base Price for 2nd place x (1 - percent takeout) = | $ 4.1466416 |
Profit Per Dollar for 3rd place: | |
Show Profit / Net Amount Bet on 3rd place finisher = | $ 11.504310 |
$1 Unbroken Base Price for 3rd place: | |
Profit Per Dollar for 3rd place + $1 = | $ 12.504310 |
Unbroken Price for 3rd place: | |
$1 Unbroken Base Price for 3rd place x (1 - percent takeout) = | $ 10.253534 |
Table 5: DOUBLE POOL
(Standard Price Calculation)
Sum of Wagers on All Betting Interests = | $ 194, 230.00 |
Refunds = | $ 1, 317.00 |
Gross Pool: | |
Sum of Wagers on All Betting Interests - Refunds = | $ 192, 913.00 |
Percent Takeout = | 18% |
Takeout: | |
Gross Pool x Percent Takeout = | $ 34, 724.34 |
Net Pool: | |
Gross Pool - Takeout = | $ 158, 188.66 |
Gross Amount Bet on Winning Combination = | $ 23, 872.00 |
Profit: | |
Net Pool - Gross Amount Bet on Winning Combination = | $ 134, 316.66 |
Profit Per Dollar: | |
Profit / Gross Amount Bet on Winning Combination = | $ 5.6265357 |
$1 Unbroken Price: | |
Profit Per Dollar + $1 = | $ 6.6265357 |
Table 6: DOUBLE POOL CONSOLATION PRICING
Sum of Wagers on All Betting Interests = | $ 194, 230.00 |
Refunds = | $ 1, 317.00 |
Gross Pool: | |
Sum of Wagers on All Betting Interests - Refunds = | $ 192, 913.00 |
Percent Takeout = | 18% |
Takeout: | |
Gross Pool x Percent Takeout = | $ 34, 724.34 |
Net Pool: | |
Gross Pool - Takeout = | $ 158, 188.66 |
Consolation Pool: | |
Sum Total Amount Bet on winner of the first contest with all second contest betting interests = | $ 43, 321.00 |
$1 Consolation Unbroken Consolation Price: | |
Net Pool / Consolation Pool = | $ 3.6515468 |
$1 Consolation Broken Price = | $ 3.65 |
Amount Bet on winner of the first contest with scratched betting interests: | $ 1, 234.00 |
Consolation Liability: | |
$1 Consolation Broken Price x (Amount Bet on the winner of the first contest with scratched betting interests) = | $ 4, 504.10 |
Adjusted Net Pool: | |
Net Pool - Consolation Liability = | $ 153, 684.56 |
Gross Amount Bet on the Winning Combination = | $ 23, 872.00 |
Profit: | |
Adjusted Net Pool - Gross Amount Bet on the Winning Combination = | $ 129, 812.56 |
Profit Per Dollar: | |
Profit / Gross Amount Bet on the Winning Combination = | $ 5.4378586 |
$1 Unbroken Price: | |
Profit Per Dollar + $1 = | $ 6.4378586 |
Table 7: PICK 7 POOL
Multiple Takeout Rates & Multiple Betting Sources
(Net Price Calculation)
Percent | Gross | Gross Amt. Net | Net Amt. | ||
Takeout | Pool | Bet on Win. | Pool | Bet on Win. | |
Source 1: | 16% | $ 190, 000.00 | $ 44.00 | $ 159, 600.00 | $ 36.96 |
Source 2: | 18.5 % | $ 10, 000.00 | $ 18.00 | $ 8, 150.00 | $ 14.67 |
Source 3: | 21% | $ 525, 730.00 | $ 124.00 | $ 415, 326.70 | $ 97.96 |
TOTALS: | $ 725, 730.00 | $ 186.00 | $ 583, 076.70 | $ 149.59 |
Total Profit: | |
Total Net Pool - Total Net Bet on the Winning Combination = | $ 582, 927.11 |
Profit Per Dollar: | |
Total Profit / Total Net Bet on the Winning Combination = | $ 3, 896.8321 |
$1 Unbroken Base Price: | |
Profit Per Dollar + $1 = | $ 3, 897.8321 |
$1 Unbroken Price for Source 1: | |
$1 Unbroken Base Price x (1 - Percent Takeout) = | $ 3, 274.1789 |
$1 Unbroken Price for Source 2: | |
$1 Unbroken Base Price x (1 - Percent Takeout) = | $ 3, 176.7331 |
$1 Unbroken Price for Source 3: | |
$1 Unbroken Base Price x (1 - Percent Takeout) = | $ 3, 079.2873 |
294 Neb. Admin. Code, ch. 23, § 294-23.005