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Heath's 20:20 Totalisator

HeathDavisSpeed

Hall of Fame Member
Roll up, roll up and place your bets! Who's gonna win the inaugural 20:20 challenge?

We'll let the market set the odds by running an unofficial Totalisator pool on the 'Win'.

Just name your team and how much virtual money you'd like to stake (within reason - for this exercise, pretend that its real money you're staking otherwise the pool will never balance)

The Tote operator takes 20% of the pool takings, whilst the CWLand Taxman takes another 5% meaning that 75% of the takings get returned to the Punter!

The Tote operator will donate all profits to the West Robbham Methadone Clinic association.

To get the ball rolling $50 on Davistow
 

Mr Mxyzptlk

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If you're going to do this, each person should have a limited amount of money, IMO. Otherwise it just gets ridiculous.
 

HeathDavisSpeed

Hall of Fame Member
If you're going to do this, each person should have a limited amount of money, IMO. Otherwise it just gets ridiculous.
Well, yes. Hence I've asked people to try and be sensible. I'm not here to bring down edicts from on high - but put it this way, idiotic bets never make sense in a Tote pool as if you unbalance the Tote pool, the odds will tend to $1.

i.e. if some pillock bets $1,000 on East Robbham (for example) whilst $50 is waged on every other team

East $1,000
West $50
Davistow $50
Fardingham $50
TOTAL POOL = $1,150
Available Winnings after profit & tax deductions = $862.50

I.e - the people who've bet a reasonable amount can 'make' $812, whilst (unless you do a dividend top up), the unreasonable bet makes a loss of $140 EVEN IF THEY WIN!

etc. etc.
 

HeathDavisSpeed

Hall of Fame Member
Current Tote Odds:

Davistow $2.90
East Robbham n/a
West Robbham $3.88
Garven Island $5.45
Fardingham n/a
Morkambe $4.58
Nixontown $3.05
Masters n/a

POOL SIZE: $305.00
Dividends Payable: $228.75
 

HeathDavisSpeed

Hall of Fame Member
Current odds:

Davistow $4.32
East Robbham n/a
West Robbham $3.13
Garven Island $3.35
Fardingham n/a
Morkambe $6.83
Nixontown $2.97
Masters n/a

POOL SIZE: $455.00
Dividends Payable: $341.27

Interesting that still no money has been staked on either West Robbham or Fardingham, who won their first warm up game whilst West Robbham who were spanked in their game are sitting as second favourites!

Davistow are starting to drift after setting the early pace.
 

HeathDavisSpeed

Hall of Fame Member
Current odds:

Davistow $2.54
East Robbham n/a
West Robbham $4.16
Garven Island $4.45
Fardingham $9.08
Morkambe $9.08
Nixontown $3.95
Masters n/a

POOL SIZE: $605.00
Dividends Payable: $453.77
(Fractions between -0.32 and +0.90)

The Tote says that given the results of the friendlies so far, there's a fair bit of value on Garven Island and Fardingham. Currently, a $1 bet on East Robbham could earn you the whole Dividend Pool ($454.77 inclusive)! Its staggering that no bets have yet been placed on the Upper Body.
 

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