By Lesley S. J. Farmer
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Additional resources for Go Figure! Mathematics Through Sports
Teacher Ideas Press. 1-800-237-6124. Â < previous page ï»¿ < previous page page_153 next page > page_154 next page > Page 154 Student Game Plan CONTEXT: Do you think collecting sports cards is just a kid's pastime? 75 million signing sports memorabilia. The rarest baseball card, T206 Horace Wagner in 1909, was sold in 1996 for $640,000 (it was originally a free premium with a tobacco purchase). It's all in how you play your cards. CHALLENGE: Imagine that you are starting a business producing and trading sports cards.
Chart the difference in profits for two five-race scenarios by type A and type B betting approaches. Assume 5-2 odds (with returns as shown above), with each gambler starting with a $20 wager. In scenario A all horses win; in scenario B all horses lose. From: Go Figure! Mathematics Through Sports Â© 1999 Lesley S. J. Farmer. Teacher Ideas Press. 1-800-237-6124. Â < previous page ï»¿ < previous page page_157 next page > page_158 next page > Page 158 Student Game Plan CONTEXT: Maybe you're not the prime athlete, but you feel lucky and think you can make a bundle betting on sports competitions and events.
2. Probability odds are noted as 1:3 when there is one chance in three that an event will happen. In horse-racing, if a person bets $1 on those odds and the horse wins, the better gets $3theoretically. In actuality, the figures are written as ''3-1" and the lowest bet is $2, for which you might expect $8 ($6 on the odds and $2 for the original bet). 60 because the "house" typically gets 17% of the money to cover their expenses. Taking this percentage into mind, calculate the winnings on a $2 bet for the following odds: 6-1, 1-1, 4-5.