You start with 100 dolars. A bookmaker 10 times offers odds to a horse race. You are a lucky gambler, because you also know what probability is for every horse to win! You will 10 times bet on a winner of the race. The winner will be always only one, but you can bet on more than one horse in a race and reduce a risk, if you wish. When the odds are announced you have to decide how to distribute your money, you can not keep any money aside. As you submit your bet, race is realised. The winner is randomly chosen with respect to the declared probabilities. The game consists of 10 races, the number of games is not limited.
To have some nice money after the ten races. And have some fun! Would be fine if you try to bet as in the real life. You can play more times (you are invited to do it!) and test different strategies. In the future, there can be some table of the best or best-in-average results.
This game helps me to get some data for teaching. I present some gambling theory, theory of optimal portfolio and distributed risk in the course of Information Theory for Finance and Statistics. Your results are recorded and I would like to compare them with the theory.
After the start of the game, you will be asked to put stakes on horses, except the last one. You can input decimal numbers, e.g. 1200 or 12.48 or 113,24 (comma or dot is understood as the decimal delimiter).
You do not specify the bet on the last horse, the remaining cash is automatically understoood as your bet on the last horse. It will be calculated (when you press "Recalculate"), displayed to you and you can then confirm it via button "Submit" or change it via button "Back".
Your results are recorded with your username. I will sell the data to whom who pay the most!!!