Simple Odds Calculation

Turnover of 3 Pick 1 will be merged into the Win pool to ensure liquidity. Each 3 Pick 1 bet will be split into the Win bets of all horses in the composite, based on a reverse ratio of their respective Win odds.

Example:

Consider a 14-horse race with $10,000,000 Win wagers.


Assume there is a $10 3 Pick 1 wagers on "Overnight Favourites (A1: 5, 13)". This $10 wager will be split into the Win bets of horse No.5 and No.13, based on a reverse ratio of their respective Win odds by the computer system and merged into the Win pool. No matter horse No.5 or No.13 actually wins, the payout will be the same.


Simple illustration of the dividend calculation:


$10 bet allocation ratio in horse No.5 and the payout will be:


$10 bet allocation ratio in horse No.13 and the payout will be:


3 Pick 1 "Overnight Favourites" odds is calculated by:


In reality, the odds of 3 Pick 1 will change dynamically in association with Win. The investment weight for each of the 3 Pick 1 bets is adjusted in order to give a consistent payout.


^ Odds in the above example are net of 17.5% take-out