The odds on​ (against) your bet are 8 to 3. If you bet ​$12 and​ win, how much will you​ gain?

Answer 1

Our odds are 8 to 3, and can be written as the ratio 8/3.

Since we start with $12, we need to find the value x that completes the comparative ratio. We can write that as the following equation:

8 / 3 = x / 12

or

8 = x

3 12

If you multiply 3 by 4 in order to get the 12 on the bottom, that means you can multiply 8 by the same amount (4) to complete the ratio.

Therefore:

x = 8 x 4 = 32

You will gain $32. Added to your original $12, the payout is $44.