Every few weeks my dad and I go to the horse races to bet on horses. Now, one hting to know is that we don’t win very often. But on the flipside we never bet very much on the horses.
We tend to do the bet “win, place,show for $2.” Now if you are reading this and you don’t know very much about horse racing, that basically means that we are betting two dollars that the horse will win (1st), two dollars that the horse will place (2nd), and two dollars that the horse will show (3rd). Now if the horse wins then we get the money of it coming in first, second, and thrid added together. If the horse comes in second then we get the money as if it came in second and if it came in 3rd. But if the horse comes in third then we just get the money for 3rd.
In order to figure out how much you would win if the horse you are betting on won you look at the odds. Depending on what panphlet you’re looking at will depend on where these odds are. There are long shots, like horses with odds of “50-1” and there are favorites “5-2.” The number on the right is how much money you would approximately earn per dollar that you put in.
My dad and I love to bet on the long shots because it is always fun to have that excitement that maybe, just maybe, my horse will win and we will get rich and then money will rain down just like it does in the movies. But then it doesn’t and we are sad for a while until it we remembe that we only lost $6. And since we lose so much, it is always really exciting when we win just $30 because previously we had won nothing.
One time there was a couple in the box next to ours who celebrated every time the race was over and I didn’t understand it. Here I was losing every time but still having fun and there they were celebrating at every single race. And then I realized that they bet on the favorite every time. I guess, yes it would be fun to win every time, but I prefer to mix my losses with my wins. This makes it a bit more exciting, but that is just me.
“But every soldier believes in Chance and trusts his luck.” – All Quiet on the Western Front by Erich Maria Remarque