I am not much of a Horse Racing fan and did not even bother to watch the Kentucky Derby today but the results are sending shock waves through the community of racers as wll as the gambling world. A 50 to 1 longshot, Mine That Bird, raced from behind to win. The second biggest upset in Derby history and the biggest since 1913.
The payout was $ 103.20 for every $ 2 bet.
So if you’d put down $ 100 on the race you would have gotten back $ 5,160 for a profit of over five thousand dollars.
If you’d managed to pick the 1st, 2nd and 3rd place winners (a trifecta) the payout was $ 41,500 so your profit on that $ 100 bet would be worth over $ 2,000,000 (at least in theory, as I understand it these bets come from a pool so there probably would not be $ 2,000,000 to win).
And if you’d really done well and picked the top six it would have paid out (again in theory) a completely mind blowing $ 781,145.94 which translates to $ 39,000,000 more or less.
Again I’m pretty sure these last two bets would not have paid out that much simply because there is not that much money out there. But even a simple one horse bet would have paid the rent and bills for a month or two.