AN INFALLIBLE SYSTEM OF BETTING.

Southland Times, Issue 643, 13 March 1867, Page 3

AN INFALLIBLE SYSTEM OF BETTING.

The following letter on the science of betting was addressed to the " Pall Mall Gazette " by Mr C. L. Dodgson, mathematical lecturer of Christchurch, Ox"The magical system of betting, the secret of which Messrs H. and J. Smith offer to the world on such reasonable terms (they only ask £500!) has probably been known and practised ever since betting has been in existence. It is applicable to almost every event on which bets are made, and it may be mathematically demonstrated that, provided all the bets are paid, winning is a certainty. I chanced upon the principle some years ago, and in the hope that it may serve to deter some from throwing away their money, I now offer it to your readers gratis. , The rule may be stated thus: —Write all the possible events in a column, placing opposite to each the odds offered against it, this will give two columns of figures. For the third column add together the odds in each case, and find the least common multiple by the several numbers in the third column. For the fifth and sixth columns multiply the original odds by the several numbers in the fourth column. These odds are to be given, or taken, according as the sum total of the sixth column is greater or less than the least common multiple. The last two columns give the relative amounts to be invested in each bet.

An example will make this clear. Suppose that in a race about to be run there are four horses in the betting, the odds being 3 to 2 on the favorite, which is equivalent to 2 to 3 against. The least common multiple to the third column is 30, and the sum total of the last, 68, and as this is greater than 60, the odds in this case are all to be given in the relative; amounts given in the fifth and sixth columns. Suppose, for example, that I multiply these columns by 10, and make the bets in pounds ; that is, I take £360 to £240 on A, I give £480 to £120 against B, and so on. Now suppose C to win the race ; in this ease I lose £500, and win £360 plus 120, plus 60, plus 40) =£50. I will be found on trial that I win the same sum, £80, in each of the five events. If all betting men tried to work this system they would either be all offering odds or all taking odds on each event, and so no bets could be made. But the fact that this system of winning is ever possible arises from the odds being unevenly adjusted, so that they do not represent the real chances of the several events. Supposing this system to be applied only in cases where the odds were evenly adjusted, the sum total of the sixth column would always be equal to the least common multiple, and thus, whether the odds were given or taken, the concluding entry in every betting-book would be " Grain=Loss=.NiH " — a most desirable result."

12 3 4 5 6 A 2to 3 5 12 24 to 36 B ............ 4tol 5 12 48 to 12 C . ... stol 6 10 50 to 10 D.... 9tol 10 6 54 to 6 Tlie Field 14 to 1 15 4 56 to 4