Math Problem Statement
Let’s say that I made a bet for three matches with two outcomes each. Odd is 1.8 on each match, same for winning and losing. Now, if I win the first match, can you calculate how much should I bet against myself to win the profit. My total possible winnings on main ticket are 1.8 * 1.8 * 1.8 * stake
Solution
To calculate how much you should bet against yourself after winning the first match in a series of three, let's break down the situation.
Step 1: Total possible winnings on the main bet (all three matches won)
The formula for the total possible winnings if you win all three matches is:
This simplifies to:
Step 2: Scenario after winning the first match
After winning the first match, the odds for the remaining two matches are:
At this point, if you continue betting with your original stake, your possible winnings from the remaining two matches are:
Step 3: Calculating the hedge (betting against yourself)
Now, to hedge against losing the main bet, you'd place a bet on the opposite outcome of the remaining two matches. To ensure you guarantee profit, you want the hedge bet to cover your stake while still securing some profit.
Hedge Calculation:
Let:
- be the amount to bet against yourself on the opposite outcome of the remaining two matches.
- If the opposite outcome happens (you lose either of the remaining matches), you win this bet at odds of .
The equation to ensure a guaranteed return (break-even or profit) should balance the winnings from both outcomes.
- If you win all matches (no hedge needed), you win:
- If you lose either of the remaining two matches, your hedge bet will win, and the payout from the hedge bet will be:
To guarantee profit, you want to cover your initial stake and still win some money. A good starting point is to ensure that:
Let’s say you want a guaranteed minimum profit. For instance, if you just want to recover your stake, set the profit to zero. In that case:
Thus:
This is the amount you should bet against yourself to guarantee a break-even outcome.
Conclusion:
If you want to guarantee a break-even outcome after winning the first match, you should bet:
against yourself on the next two matches.
Would you like a more detailed explanation or calculations based on a specific stake?
5 Relative Questions:
- What would happen to your total winnings if you increased the stake after the first match?
- How would the hedging amount change if the odds for the remaining two matches were different?
- Can you calculate the expected value of betting without hedging?
- What happens if you lose the first match—how does this affect your overall strategy?
- What other betting strategies could you use to minimize your risk?
Tip:
When hedging, it's important to balance the risk and reward—small hedge bets can reduce risk while still keeping a potential upside on the original wager.
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Math Problem Analysis
Mathematical Concepts
Probability
Hedging
Betting Strategy
Formulas
Total possible winnings = 1.8 * 1.8 * 1.8 * stake
Hedge amount: x = stake / 3.24
Theorems
Expected Value Theorem
Multiplication Rule of Probability
Suitable Grade Level
Advanced High School to Early College
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