W. Va. Code R. agency 178, tit. 178, ser. 178-05, tbl. 178-5D

Current through Register Vol. XLI, No. 50, December 13, 2024

Table 178-5D

EXAMPLE: PLACE POOL (Standard Price Calculation)

Sum of Wagers on All Betting Interests	= $194,230.00
Refunds	= $1,317.00
Gross Pool:
Sum of Wagers on All Betting Interests - Refunds	= $192,913.00
Percent Takeout	= 18%
Takeout:
Gross Pool X Percent Takeout	= $34,724.34
Net Pool:
Gross Pool -Takeout	= $158,188.66
Gross Amount Bet on 1st place finisher	= $23,872.00
Gross amount Bet on 2nd place finisher	= $12,500.00
Profit:
Net Pool - Gross Amount Bet on 1st place finisher - Gross Amount Bet on 2nd place finisher	= $121,816.66
Place Profit:
Profit / 2	= $60,908.33
Profit Per Dollar for 1st place:
Place Profit / Gross Amount Bet on 1st place finisher	= $2.5514548
$1 Unbroken Price for 1st place:
Profit Per Dollar for 1st place + $1	= $3.5514548
Profit Per Dollar for 2nd place:
Place Profit / Gross Amount Bet on 2nd place finisher	= $4.8726664