CD LATE PK 4 PAYOFFS 4/28

[bobl49]

There was a DH in the 10th and last leg of the pk 4 with the 3 and 4 horses. I wrote down all the will pays prior to the race and they are as follows:
1. $1714
2. $851
3. $2279
4. $1108
5. $274
6. scr
7. $7397
8. $623

With the DH, it paid $745. How could it pay that low? Shouldn\'t the pay out be between the $2279 for the 3 and $1108 for the 4? Can any one help explain it. Thx.

[BitPlayer]

With the dead heat, the number of winning tickets increased from just tickets with the 3 or just tickets with the 4 to all tickets with either 3 or 4.  With more tickets to pay off (and the total amount payable remaining the same), the payoff per ticket decreased.

[justwin]

The payoff has to be less than the if the 4 horse won without a dh. you have all of the people that had the 4 horse collecting on the p4 plus all of the people that had the 3 horse collecting.

[Molesap]

I am sure Rocky or someone else can give you a better answer, but let’s say the total pool to go to the payouts was $22,160. So in the case of #3 there would be 10 tickets for $22,160, which would be a will pay of $2216, while in the case of #4 there would be 20 live tickets with a will pay of $1108 (I rounded for the sake of the simplicity).

#3 = $2216 = 10 tickets (10 x 2216 = $22,160)
#4 = $1108 = 20 tickets (20 x 1108 = $22,160)

With the dead heat, you would have 30 live tickets taking a piece of the $22,160, so that would be less money on the payout ($22,160 / 30 tickets = $738 each). The actual total pool was about 10 times this amount as were the number of tickets, but in this watered down example, you can easily see how the payout should be less than the original two will pays.

[Tavasco]

Because it was a 50 cent ticket? No high priced horses so 1500/1 doesn\'t strike me as short.

Does appear they just divided the pool by the number of winning tickets. That is curious.

[joemama]

Not sure why there isn\'t a separate payoff in this case for having the 3 horse and a separate payoff for having the 4 horse. The daily double ,exacta and pick 3 have separate payoffs for the 3 horse winning and the 4 horse winning in the race.

[bobl49]

Thanks all for the info. The pool size was $256k, so I\'ll figure the take out and do the math. Go Audible!

[TreadHead]

\"Shouldn\'t the pay out be between the $2279 for the 3 and $1108 for the 4?\"

No, it should not.

The payout should be between half of $2279 (1140) and half of $1108 (556) because when you deadheat the pool gets either split in half or roughly diluted by half if all combined together (as it appears CD does on these wagers).

So the payout looks to be absolutely in line with what it should be, not even a discussion.

[skitimber]

Interesting post, after the discussion!