|
A Nite at the Races is a simulated horse racing event. We are sent a sealed tape of ten thoroughbred races, play money, past performance programs and winners board. People come to play the races and have a good time. The windows are all to win windows at $2 a shot. If someone wants to bet $10 on a horse, they just bet it 5 times. There is one daily double in the 5th and 6th races. People must try to guess the winners of each of those races before the fifth race. The payout depends on how many people bet on a particular horse. All the bets are pooled and the winners split the pot. Say if you bet on the number one horse to win and it does. There were ten people betting on the number 1 horse. The pool is $200. The payout would be $20 per ticket. It works the same as the odds tables at the track. The more people to bet on a horse, the less the payoff, or the lower the odds. In the daily double, whatever the pot is is doubled by the hosts. So if the pot is $200, we throw in another $200 to make $400. There will be less winners if at all in this race, so the payouts will be much larger. |  |
|
