Math Whiz needed.. I dont have enough fingers.

[0o0o0]

Ok... do not laugh this maybe so simple and im just slooooww lol. but heres the "puzzle"

 

Johnny  bets on a horse it is 5/2 odds (fractions)... which converts to 2.50 (decimal)   ..

 

...then when it pays out it is this equation...  ((2.50 x $2) + $2 )

 

Which equals johnnys horse if won would pay $7 for $2 bet.

 

Johnny wants to make a profit of $30 no matter what, but also.. wants his bet money back..  whats the magical bet amount needed?
 

 

( answer is $42... but I used a whole page of paper to figure this out lol..  and I really need the formula for finding 42. )

 

so.. here it is..

 

((2.50 x $2) + $2 ) = $7

 

the bet is $12 ( which we dont know! it's the answer were trying to find)

 

and $12 divided by two is 6.. and $6 x $7 equals $42..   which $42 - $30 is $12.. which is whats needed for the entire bet to make $30 and get your initial bet money back.

 

 

so.. anyone know the formula to find $12 need to bet?

I know.. maybe not a php forum post but this will be converted into a calculator in php.. when its completed.

Thanks in advance!

[requinix]

$12 is right... Not sure what the $42 is for?

 

Profit of $30, which means 2.50 * $bet = $30. Because you can ignore the +$bet part because that's just him getting his money back.

 

30 / 2.50 = 12.

[0o0o0]

hey thanks for the interest. Its a little harder than that tho.

 

$bet has to cover his $30 target Plus whatever the $bet number will be.. in the case above it was $42 as the goal.. to win $30 plus get his $12 back.

 

$12 is the magical bet number im trying to get in any equation.

 

 

Johnny wants $30 cash profit on top of his bet money back in his pocket..  which your right. with your answer... . but $42 is the goal hes shooting for .. $12 is his bet and the $30 was what he was was goin for.   so $42

 

get me?

Thanks for replying! any suggestions a good one.

[0o0o0]

Disregard above wont lemme erase it..
 

Thanks but thats not how it works..

 

although LOL now ya just confused me.

 

5/2 in horse racing is 2.50 for every dollar.  So minimum bet at horse racing is $2. so 2.5 is automatically 5.00.. then you always ad $2 on top.. so the payout for a $2 win ticket on a 5/2 horse  is $7..

 

anyhow i think I need a mathematician at a mathematician forum.

 

$12 / 2 = 6 ... 6 units..   6 units times $7 is $42 bucks..   leaving $30 profit... and the initial $12 bet back in johnnys pocket.

 

Im just looking for how to create an equation that results in $12..  instead of writing it out on paper in 3-4-5 different ways till all the dollars match up.

 

anyhow thanks!

[bsmither]

Start with a standard function equation:

(5/2)x + x = y where y is wanting to be 30 + x

(5/2)x + x = 30 + x

Subtract x from both sides:

(5/2)x + x - x = 30 + x - x

Simplify:

(5/2)x = 30

Rewrite for x:

x = 30/(5/2)

Solve for x:

x = 12

 

Generally, then:

(ODDS)x = Desired_Profit

x = Desired_Profit / ODDS

x = Bet_to_make

[requinix]

You keep saying $42 but the question, as far as I can tell, has always been "what is the bet amount to get a profit of $30?" Which bsmither and I have both told you is simply profit / odds. The fact that he receives $42 is moot.

[0o0o0]

Requinix  when you bet anything.. anything at all.. and win $30.. you dont win that for free. The profit is what you subtract from how much you bet in the first place from what you won..

 

Above "profit" would be $18.  if you win $30 and it cost you $12.  get me? you already had the $12 before you bet. and used it to make $18..

 

I think bsmither showed me how to get $30 PLUS the $12 back.. meaning by betting $12 (6 units)  multiplied by $7.. made me $42..  my $30 pure profit, and my $12 risk money.. back.

 

Can you send XLS files on here privately? i have four wager examples and all the math filled out.. its just getting "x"  the cost needed that im stuck on. Unless Bsmithers has competely done that above. I gotta sleep I will check it tomorrow.

 

Thanks for the replies guys!

 

Requinix maybe you dont gamble, and thats ok.  A person who goes to the store and buys a $3 scratch ticket, comes home and says hey! I won $3.. is an idiot they could have just stayed home.  So this is like that say you bought a $12 scratch ticket, and hey I won $30!!! ya didnt really it cost you $12..  so you really only won $18.  If your scratch ticket said you won $42.. then you did actually win $30.

Edited May 15, 2015 by 0o0o0

[0o0o0]

$2 @ 5/2 pays $7   ( horse racing 2.50 x 2 is 5.00 then add 2 = 7.00 )

 

$12 has how many $2 in it??  6 correct?.. and 6 times $7  = $42  not moot.. its $42 it holds the $30 you wanted and your bet cost of $12.. so you won $30.. and your bet money back.

 

The magic X number bsmither worked out is $12  .. which is 6 units times 7 = $42

 

I hope, I gotta check it later.

 

2.5 x $12 just.. equals = $30  thats not how you calculate payouts in horseracing. You right tho! just not horseracing.

now ya gotta be really confused.

 

thanks for the help guys! night.

Edited May 15, 2015 by 0o0o0

[requinix]

For crying out loud, how can it be so difficult to explain this...

 

Let's try pure algebra. Can you handle algebra? I hope so.

 

Some variables:

B = bet amount

O = odds of winning

P = net profit

W = amount paid out to the winner

 

Some equations:

P = W - B (profit is the winnings less the bet amount)

W = B * O + B (winnings is the bet amount paid out by the odds, plus the original bet back)

 

Let's combine those two equations:

P = (B * O + B) - B

P = B * O

 

Okay? So the net profit is the bet amount multiplied by the odds. Now let's rearrange it so that the equation solves B (what you want to know) in terms of P (a known amount) and O (also a known amount).

 

B = P / O

 

Now let's plug in some values.

 

P = 30

O = 5/2 = 2.5

 

B = 30 / 2.5

B = 12

 

What is not clear about that?

[0o0o0]

lol I love this guy.

I'd have to say  Requinix is willing, fully capable, of getting through to anyone on this forum. If your tired out and completely ready for bed I recommend either going to bed, or! simply finding him on here and asking him first.. then waking up and re-reading his replies and blushing in embarracement that he was right all along.

 

THANK YOU 

Is there a place to give points on here?.. you get maximum for your efforts and not just saying " this guys fkn stupid" lol.... thanks again. 

 

 

"horse racing 2.50 x 2 is 5.00 then add 2 = 7.00"  duh the additional 2 is your money back.. so ya your right $42 is MOOT. I was tired. I'll go with that answer for $400,000.

Edited May 15, 2015 by 0o0o0

[0o0o0]

A few days ago I stumbled on a website, that used a calculator that you cant find anywhere else on the net, they claimed its

the answer to all betting. lol.. it used words like "A.I." and "bet management algorithm" and a few other terms.. at a price of $300 a month!!

 

So I came here with the idea this will be some giant algebra formula..amd only the php "freak" could figure it out...  lol your answer was toooooo simple.. way too simple.. I just couldnt accept it, for a $300 a month answer. 

Turns out it was correct all along. Now im amazed at how a calculator could get $300 a month!!!!!!!!!!  Im creating it for personal use but wow.

 

No names included.. its kinda of simple, for $300 a month.. and in 20 mins I;ve completed its exact replica in excel.. only because now you explained to me whats involved in the " Betting A.I" formula .. lol..  Man the stuff people sell and profit with, with businesses online is too scarey.

Thanks guys close the thread.