THE SCIENCE OF BETTING.

New Zealand Times, Volume XXXII, Issue 5209, 1 December 1877, Page 1 (Supplement)

THE SCIENCE OF BETTING.

Mr. G. Dong.-sm, mathematical lecturer at Christchurch, Oxfo d, writes’to the Pall Mall Gazette that the rules of betting may b« stated thus:—Write ab. the possible events in a column, placing opposite to each the odds offered against it; tins will give two columns of figures. For ths third column add together the odds in each c ise, nud find the least common multiple of all the numbers in this column. Fur the fourth column divide this common multiple by the several numbers in the third column. For the fifth and sixth columns multiply the original odds bv the several numbers in the fourth column. These odils are to lie given or taken according as the sum total of the sixth column is greater r.r less than the le’isb common multiple. Tlie last two columns give the relative amounts to be invested in each bet :

An example will make this clear; —Suppose that in a race about to he mu there are four horses iu the beltin'!, rhe oriels being; 3 to 2 on the favorite, which is equivalent to 2 to 2 against. The least common multiple of the third column is sixty, and the sum total of the lash, sixty-eight ; and .as this is greater than sixty, the odds in this case are all to be given in the relative .amounts given in the fifth .and sixtli columns. Suppose, for example, that I multiply these columns by ten, and make the bets in pounds—that is, 1 take £3OO to £2lO on A, I give £430 to £l2O against B, and so on. Now, suppose C wins the race : in this I lose £SOO and win £3O ', plus £l2O, plus £6O, plus £4O, equal £530. It will he found on trial that I win the same sum (f SO; in each of the five events. If all belling men tried to work this system, they would be either all offering odds or taking odds on each event, and no bets could be made. But the fact that this system of winning is ever possible arises from the odds being unevenly adjusted, so that they do not represent the real chances of the several events. Supposing tin’s system to be applied only in cases where the odds were evenly adjusted, the sum total of the sixtli column would always be equal to the least com ■ i multiple, and thus, whether the odds weic given or taken, the concluding on try in every betting-book would bo “ gain equals loss equals nil ” —a most desirable result.

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