Question

You bet $7 on a local race being held for charity. the payoff odds given by the charity event are 12:1. find your net profit for winning your bet in the race

$84
$91
$80
$77

Answer 1

To find the net profit from a winning bet with 12:1 odds on a $7 bet, multiply the bet by the odds and subtract the original bet to get a net profit of $77.

Step-by-step explanation:

The question is asking for the net profit from a winning bet if the payoff odds are 12:1 and the bet was $7. To calculate the net profit, you need to multiply the amount bet by the odds. The calculation would be $7 times 12, which equals $84. However, to find the net profit, we need to subtract the original bet from the winnings. So, $84 minus $7 results in a net profit of $77.