Probability, Odds and Random Chance

Probability, Odds and Random Chance

This worth of 30 represents the quantity of profit for the bookmaker if he gets bets in good proportions on each of the horses. For instance, if he takes £60, £50, and £20 of stakes respectively for the three horses, he receives £one hundred thirty in wagers but only pays £a hundred back (including stakes), whichever horse wins
Source: Probability, Odds and Random Chance