Grand Prix Rejects

I am having trouble understanding why Lewis is getting better odds than Nico for the 2016 Drivers' Championship. Lewis is getting 7/2 and Nico is getting 1/5 or 1/6. Could it be because Lewis has won previously?

Dave wrote:I am having trouble understanding why Lewis is getting better odds than Nico for the 2016 Drivers' Championship. Lewis is getting 7/2 and Nico is getting 1/5 or 1/6. Could it be because Lewis has won previously?

7/2 isn't better than 1/5. 1/5 means you would only win £1 from every £5 bet. In other words, the odds are against Rosberg losing the championship.

Simtek wrote:

Dave wrote:I am having trouble understanding why Lewis is getting better odds than Nico for the 2016 Drivers' Championship. Lewis is getting 7/2 and Nico is getting 1/5 or 1/6. Could it be because Lewis has won previously?

7/2 isn't better than 1/5. 1/5 means you would only win £1 from every £5 bet. In other words, the odds are against Rosberg losing the championship.

Well, he did say he wasn't a betting man.

WaffleCat wrote:

Simtek wrote:

Dave wrote:I am having trouble understanding why Lewis is getting better odds than Nico for the 2016 Drivers' Championship. Lewis is getting 7/2 and Nico is getting 1/5 or 1/6. Could it be because Lewis has won previously?

7/2 isn't better than 1/5. 1/5 means you would only win £1 from every £5 bet. In other words, the odds are against Rosberg losing the championship.

Well, he did say he wasn't a betting man.

In his case it's defenitely better to keep away from betting. In fact, it's best for everyone to keep away from betting. Except for the avatar betting thread, of course.

This wrote:In his case it's defenitely better to keep away from betting. In fact, it's best for everyone to keep away from betting. Except for the avatar betting thread, of course.

You don't know the things I've lost in the avatar betting thread, man! Speaking of which, I've probably lost again this year

This wrote:In fact, it's best for everyone to keep away from betting. Except for the avatar betting thread, of course.

I'm a betting man, but as long as you gamble responsibly, it's all good. Only bet what you can afford to lose.

Simtek wrote:

Dave wrote:I am having trouble understanding why Lewis is getting better odds than Nico for the 2016 Drivers' Championship. Lewis is getting 7/2 and Nico is getting 1/5 or 1/6. Could it be because Lewis has won previously?

7/2 isn't better than 1/5. 1/5 means you would only win £1 from every £5 bet. In other words, the odds are against Rosberg losing the championship.

Duhhh. I should have remembered that the longer odds are always something like 10-1 or 20-1, etc. So Nico is getting flatter odds because he is the favourite, and Lewis is getting longer odds because he has a bigger job to do - bettors take a bigger risk for the bigger payoff. Thanks for the moment of clarity, and to everyone else for helping out.
The quoted odds seem to support the scenarios in my spreadsheets.

Sheesh, I don't even play the lotto.