SOLUTION: I study hard for this quiz and I still got it wrong please explain. help help The odds against Lightning winning the third race are 9:4. If Sally places an $8 bet on Lightning

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Question 199665: I study hard for this quiz and I still got it wrong please explain. help help
The odds against Lightning winning the third race are 9:4. If Sally places an $8 bet on Lightning to win and Lightning wins, find Sally’s net winnings
Answer by solver91311(24713) About Me  (Show Source):
You can put this solution on YOUR website!


When odds are expressed as A:B, that means for every B units of money that you stake, you will get a return of A units, plus your original stake as a payout. So for every dollar you bet on Lightning, you get of a dollar in winnings plus the original amount you bet:



But, the question asked what were the net winnings. That means how much more does Sally have than she did before she made the bet? So take the $26 payout and subtract the $8 original bet leaving a net gain of $18.

John