perplexus.info :: Probability : Taking the Long Shot

Taking the Long Shot (Posted on 2013-07-16)

Right before the fifth race at Santa Anita, the word got out that one of the three horses was going to win the race: Lightning Bolt, a 2-1 shot; Golden Honey, a 3-1 shot; or Matchmaker, a 4-1 shot.

Assuming that this tip is true, how much would you have to bet on each of the three horses to be assured of coming out with a $ 39 profit?

See The Solution Submitted by K Sengupta

Rating: 4.0000 (2 votes)

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Easy money (spoiler)

| Comment 1 of 3

Lightning Bolt pays $3 on a $1 bet

Golden Honey pays $4 on a $1 bet

Matchmaker pays $5 on a $1 bet

The Least common multiple of 3,4 and 5 is $60, which we can guarantee by betting $20, $15 and $12, respectively, on the 3 horses. Thus $47 gives us a $13 profit, if we know that one of these horses will win. Since we want a $39 profit, just triple the bets:

$60 on Lightning Bolt, $45 on Golden Honey, and $36 on Matchmaker returns $180 for a $141 bet.

Posted by Steve Herman on 2013-07-16 14:23:07

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