Riddle Me This! #2: SBD Earnings go to winner on payout.
BE SURE TO UPVOTE TO ENHANCE THE REWARD POOL.
Mr. Pinafore bet at the horse races each weekend, but each weekend he kept betting on the wrong horse. Yet, without fail, each weekend he’d go back and put $20, $50, even $100 on the races. His wife knew he’d lose, without fail. She couldn’t understand why he didn’t use his money and put it into something more stable, like retirement.
“But honey,” he would say. “This IS my retirement. For every dollar I lose, I gain two back. If I win, then I lose my bet. If I don’t bet, then I don’t make any gains.”
Why was this?
hehe.. he's a jockey of the winning horse and he's hedging his bets.
Now THAT'S not a bad idea! Hmmmm.....but not quite.
he owns the horse track or the betting system. If he wins he breaks even and if he "loses" his gambling gig makes money.
This was my first guess - that he owns the stable. But I went with my second guess, since you beat me to it.
I thought of going this direction. Very good guess. But no cigar.
hmmm, ok intrigued...
He owns horses, but he gambled on horses that he doesn’t own.
If he loses it means his horse wins.
that is also a great guess that could be right! I haven't thought of that angle...
Clever guess. Upvote for effort.
I'm thinking he's betting for the same - or higher amount with someone else, but somehow knows that whatever horse he legitimately bids on will lose... Hence whichever horse he bids on, he knows will lose, and then bids on another one with his other bookie...
Or something similar, hmm~.
I like your take on it.
Betting on a horse who loses always makes sure he wins. Until his luck turns and the picked horse wins, lol.
I like this answer too!
Yes. So there's a little more to it. Be more specific.
He bets the jockey that he (the jockey) can't lose. Or he pays the jockey to lose the race, thereby making sure he wins the bet, for coming in last.
We will never know, before we do so. Remember one thing, the work we do will be worth it. Hmm
Maybe he's betting which horse is going to lose. To his wife it might look like the "wrong horse" because it's not the one winning the race, but he needs to choose a losing horse in order to win.
Yes....and how does he make the bet? Elaborate a little more. Anyone can jump in here.
if he is betting on the last horse to finish the race then winning would be losing. 2:1 odds betting on same lame horse
You are very much on the right track. Look up "Lay" betting.
Oh my, I'm not sure how to explain it. But in horse races, only 1 horse it's going to win, so you have more odds of choosing any of the others that would lose. If for example, you have 10 horses in a race, and you back a bet for 1 horse winning, the odds are 1/9. However, if you bet that all of them would lose, you will win money for the 9 that actually lose and you will lose money for the horse that won. Still, the money made by the losing horses will be bigger than the money lost with the winner.
I'm going to give you and @artopium the vote. @artopium for getting it the closest to the specifics, and you for being the first to guess he was betting on a losing horse.
This is pretty much it. It's called lay betting, and he doubled his bet back on a losing horse by putting in a stake of 10 on the odds of his choice. He's not betting against another person, he's just saying what the odds are that the horse loses. You can put in a guess at the odds (anywhere from 1 - 10) and put a stake on the odds that this happens.
If he bets $50, then he's got to guess on odds of 10 with a stake of 10. If his horse loses, he gets $100 back.
If he bets $20, then he's got to guess on odds of 4 with a stake of 10. If his horse loses, he wins $40.
If he bets $30, then he's got to guess on odds of 6 with a stake of 10. If his horse loses, he wins $60. Doubles his money.
Hope that makes sense?
Facts about gambling: the house always wins! :)
I have never heard about this before, so it's great to have learn something new. Thank you!
This is a tough one....waiting impatiently to see who solves it.....
maybe he could be the owner of the winning horse and if placing a bet on a losing horse, it raises the odds for his champion horse. If he doesn't bet he loses money on the spread
He bets someone else double what he would lose on the horses. If he wins the horse bet he loses the bet with this other person. If he loses the horse bet, he wins the bet with the other person. He bets double the amount with the mystery person than what he bets on the horses. If he bets $1 on the horses he bets $2 with the mystery person. He makes sure to always pick a losing horse.
I'm going to give you and @hayleeng the vote. You for getting it the closest, and @hayleeng for the first to guess he was betting on a losing horse.
This is pretty much it. It's called lay betting, and he doubled his bet back on a losing horse by putting in a stake of 10 on the odds of his choice. He's not betting against another person, he's just saying what the odds are that the horse loses. You can put in a guess at the odds (anywhere from 1 - 10) and put a stake on the odds that this happens.
If he bets $50, then he's got to guess on odds of 10 with a stake of 10. If his horse loses, he gets $100 back.
If he bets $20, then he's got to guess on odds of 4 with a stake of 10. If his horse loses, he wins $40.
If he bets $30, then he's got to guess on odds of 6 with a stake of 10. If his horse loses, he wins $60. Doubles his money.
Hope that makes sense?
Right, this is what I meant. But since I've never actually bet on horses before I didn't know the terminology. ;) I went and looked up lay betting. I didn't even know you could make such a bet, hence my "mystery person" lol! And thanks for the riddle. I love riddles!