formula headache

[paeon]

I am trying to work out the formula for the following:

In horse race betting I am trying to calculate the stake
required for a given profit.

ie: I want to make $10 profit on a horse with a price of
decimal 3, what stake would I need?

If I staked $10 at 3 it would return $30 3*$10, which is $20 profit
plus my stake of $10 back, I just cannot figure out how to generate
the stake needed for a given profit.

any help greatly appreciated.

[HallsofIvy]

I'm not at all clear what you mean by a "price of decimal 3" but you say, "If I staked $10 at 3 it would return $30= 3*$10, which is $20 profit plus my stake of $10 back" so I guess you are saying that your return is 3 times your stake (if your horse wins, of course!). I'm not sure where the "decimal" comes into that. Since you want to determine what stake you must put up to get a "given profit", do the same thing but use a symbol, say "S" for "stake", instead of your 10: If you stake S dollars on a horse at "decimal 3" that would return 3S dollars. Your profit would be 3S- S= 2S, twice your original stake. If you want to get a "given stake" of, let's call it "G" for "given", then you want 2S= G or S= G/2. If you are betting on a horse at "decimal 3" and want to win a certain amount, you must stake half of that amount.

(Again, that is assuming that your horse wins. If you have a way of guarenteeing that, please get back to me!)

[Epsilon=One]

Originally Posted by HallsofIvy

(...assuming that your horse wins. If you have a way of guarenteeing that, please get back to me!)

Hopefully, we will all hear from "paeon."