Gambling Winnings Using Decimal Odds
Decimal odds quote the ratio of the payout amount, including the original bet, to the bet itself.
The payoff for a win equals the bet amount times the decimal odds minus 1.
Formula
![QuantityVariable["winnings", "Money"] == QuantityVariable["b", "Money"]*(-1 + QuantityVariable["d", "Unitless"])](https://www.wolframcloud.com/objects/resourcesystem/marketplacestorage/resources/42f/42f50da3-0713-4494-90da-92b5258110de/Webpage/FormulaImage.png "Copy to Clipboard")
Forms
Examples
Get the resource:
| In[1]:= | ![ResourceObject["Gambling Winnings Using Decimal Odds"]](images/42f/42f50da3-0713-4494-90da-92b5258110de-io-1-i.en.gif){kind=small} |
| Out[1]= |  |
Get the formula:
| In[2]:= | ![FormulaData[ResourceObject["Gambling Winnings Using Decimal Odds"]]](images/42f/42f50da3-0713-4494-90da-92b5258110de-io-2-i.en.gif){kind=small} |
| Out[2]= |  |
Use some values:
| In[3]:= | ![FormulaData[
ResourceObject[
"Gambling Winnings Using Decimal Odds"], {QuantityVariable[
"d","Unitless"] -> 3.5`,
QuantityVariable["b","Money"] -> Quantity[10, "USDollars"]}]](images/42f/42f50da3-0713-4494-90da-92b5258110de-io-3-i.en.gif){kind=small} |
| Out[3]= |  |