Bet Calculation Problem?

Question

If i wish to place 2 bets......of which only one can win.....

1 at a probable payout of $2.25, and the other at a probable payout of $2.95

How much do I have to bet on each of these so that the one winner (which will eliminate the other) will give me a profit of $100.00 AFTER covering the cost of both bets?

What is the formula for figuring this out?

What type betting calculator can compute this?

Thank you.

Answer 1

Bet A=payout of 2.25 (assumed for $1)

Bet B=payout of 2.95

(2.25xA) - B = 100

(2.95xB) - A = 100

Use algebra to solve both equations.

A=$70

B=$58

both numbers rounded to nearest dollar.

Answer 2

don't know

Answer 3

You can use one of the free sites like this one: http://www.oddschecker.com/betting-tools... which will allow you to play around with the stakes until you're happy with them.