by Mike Fletcher
Published January 20 2019 (link)
Two teams, A and B, play each other.
A bookmaker was giving odds of 8-5 on a win for team A, 6-5 on a win for team B and X-Y for a draw (odds of X-Y mean that if £Y is bet and the bet is successful then £(X + Y) is returned to the punter). I don’t remember the values of X and Y, but I know that they were whole numbers less than 20.
Unusually, the bookmaker miscalculated! I found that I was able to make bets of whole numbers of pounds on all three results and guarantee a profit of precisely 1 pound.
What were the odds for a draw, and how much did I bet on that result?