W. Va. Code R. agency 178, tit. 178, ser. 178-05, tbl. 178-5I
EXAMPLE: PICK 7 FOOL, Multiple Takeout Rates & Multiple Betting Sources
(Net Price Calculation)
Percent Takeout | Gross Pool | Gross Amt. Bet on Win | Net Pool | Net Amt. Bet on Win |
Source 1: 16% | $190,000.00 | $44.00 | $159,600.00 | $36.96 |
Source 2: 18.5% | $10,000.00 | $18.00 | $8,150.00 | $14.67 |
Source 3: 21% | $525,730.00 | $124.00 | $415,326.70 | $97.96 |
TOTALS: | $725,730.00 | $186.00 | $583,076.70 | $149.59 |
Total Profit | |
Total Net Pool - Total Net Bet on the Winning Combination | = $582,927.11 |
Profit Per Dollar: | |
Total Profit/Total Net Bet on tire Winning Combination | = $3,896.8321 |
$1 Unbroken Base Price: | |
Profit Per Dollar + $1 | = $3,897.8321 |
$1 Unbroken Price for Source 1: | |
$1 Unbroken Base Price x (1 - Percent Takeout) | = $3,274.1789 |
$1 Unbroken Price for Source 2: | |
$1 Unbroken Base Price x (1 - Percent Takeout) | = $3,176.7331 |
$1 Unbroken Price for Source 3: | |
$1 Unbroken Base Price x (1 - Percent Takeout) | = $3,079.2873 |
W. Va. Code R. agency 178, tit. 178, ser. 178-05, tbl. 178-5I