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Converting the betting odds into implied probabilities of winning may prove a more intuitive tool to use than viewing betting odds in isolation, especially for the novice.
To convert odds into implied probabilities, simply divide 1 by the decimal odds.
For example, a greyhound with a market price of $3 implies that the market believes its probability of winning is roughly 33% (1/$3.00 = 0.33). We say roughly because the sum of all probabilities must equate to 100%. However, because bookmakers and the TAB clip the odds, the market odds available are actually less than what would be available without an intermediary, thus elevating the sum of the field’s probabilities above 100%. For example, if you and a friend bet on a coin toss, and the odds are $2 for heads and $2 for tails, then the winner will win $10 on a $10 bet. If the TAB were acting as intermediary, then the odds would likely be $1.95 for heads and $1.95 for tails. The winner would record a net win of $9.50 and the TAB would keep 50c (the two players threw $10 x 2 into the win pool, and the eventual winner received $10 x $1.95 = $19.50, a net win of $9.50). The $1.95 odds imply the probability of winning the coin toss is 51.28% which of course we know is not true (it is 50% on any coin toss).
To overcome this, you can build yourself a “Wheel of Fortune” (WOoF) in excel like the one below. You’ll note that the probabilities of each greyhound adds up to a figure greater than 100%. However, the wheel of fortune adjusts the percentages of each runner to accurately illustrate the probability of winning according to the market. Using the wheel, you can try and imagine which number you might back based on risk and return. Or alternatively, the next time you see a greyhound runner with odds of $10, the wheel can help you visualise your chances of winning (again, if the market is correct!).
Box Number Odds Offered to win Odds translated into Probability of Winning
1 $10.00 10%
2 $5.00 20%
3 $2.10 48%
4 $8.00 13%
5 $12.00 8%
6 $20.00 5%
7 $26.00 4%
8 $16.00 6%
The installation of straight tracks as well as reduction of the amount of pet dogs in each race to cut back the amount of deaths and injuries to puppies.
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The name "Greyhound" is generally considered to originate from the Previous English grighund. "Hund" would be the antecedent of the fashionable "hound", however the meaning of "grig" is undetermined, in addition to in reference to pet dogs in Previous English and Old Norse. Its origin isn't going to surface to have any popular root with the trendy phrase "grey"[sixty] for shade, and certainly the Greyhound is observed with a wide variety of coat hues. The lighter shades, patch-like markings and white appeared inside the breed that was the moment ordinarily grey in color.
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In case you are thinking of a watchdog, will a town full of suspicious "strangers" place him on lasting warn? Will the local wildlife actually push your Pet dog wild? Do you reside in housing with sounds restrictions? Do you might have neighbors close by?
The Greyhound is really an historical breed that originated in the Middle East and North Africa and has won the admiration of many different cultures. Greyhounds have been outlined by Greeks, depicted in artwork by Egyptians, praised by a Roman poet, and so are the one breed of Puppy pointed out within the Bible.
A Tricast bet is will work in Significantly a similar way being a Straight Forecast bet Along with the third position greyhound also having to be preferred by a punter and not just the 1st and second position finisher, the pay-outs on Trifecta and Tricast fork out-outs are often bigger compared to Exacta and Straight Forecast dividends Incidentally!
Utilised and discarded by this industry at an appalling level, greyhounds are on the entrance line of suffering. Just one in ten greyhound pups born will Dwell out an entire lifespan.
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It won't make any difference irrespective of whether you're betting on Sandown, Albion Park or perhaps the Grafton greys - there is no excuse for not getting the greatest benefit each time you spot a wager!
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The greyhounds who do make it for the track are place at sizeable threat of sustaining major injuries, for example damaged hocks or legs, or head trauma, during instruction and racing. Nearly 200 canine are reported injured through Formal races each week. Some even die from cardiac arrest resulting from the extreme Bodily depth of racing. On many occasions the injuries are 'uneconomical' to take care of and the operator will instead possess the Pet killed.
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