Do you know how to calculate potential winning in pools bet? Avoid being cheated.
Winnings on fixed-odds are easiest to calculate when the maximum number of lines obtainable have been secured. Just multiply the amount staked by the odd for the coupon that week.
However if in a permutation game, you get at least the minimum selection required, to determine your winnings, first you must know the lines of your selection, then your winning lines which are defined by the numbers you get correct in your selection. You can then calculate your winning as follows:
- Multiply your winning lines by the amount staked per line.
- Multiply what you get in (i) above by the odd for the game that week.
For example: If you make a permutation of 3 from 6, the total number of lines is 20. If your total investment on the coupon is N500, that means the coupon was staked at N25 per line. If out of the 6 games, 5 are correct, your winning line is 10. If the odd for the game that week is 40, then your winning will be:
(i) 10 multiplied by 25 = 250
(ii) 250 multiplied by 40 =10,000
However, there is a more direct formula for this calculation which is:
Winning = (WL x CPOD x AS) / TLS
WL= Winning Lines = 10
CPD= Coupon Odd = 40
AS= Amount staked= 500
TLS = Total Lines staked = 20
Winning = (10 x 40 x 500 )/20 = 10000/20
Steve staked 10 numbers, expecting a minimum of 3, on the Mars GND coupon with N24,000 in week 41. 8 of his selection were correct. How much did he win?
WL = 56
CPD = 124
AS = 24000
TLS = 120
Winning = 56 x 124 x 24,000 = 1,388,800/120
That same week, Steve staked 6 numbers expecting a minimum on the Under-4 GND coupon with N1200. 4 of his selections were correct. How much did he win?
WL = 1
CPD = 4
AS = 1200
TLS = 15
Winning = 1 x 4 x 1200 = 320/15
But if 5 of his selection had been correct, his winning would have been:
Winning = 5 x 4 x 1200 = 1,600/15
If Steve had gotten the whole 6 selections correct, his winnings would have been directly calculated as:
Winning = CPD x AS
= 4 x 1200 = 4,800
In the calculation of winnings, the ready reckoner comes handy in determining the total lines staked and the winning lines.