i gamble a lot, last night I bet $100 to someone that England wouldn't win the soccer world cup at 2-1 odds. I'll go to the bookmaker in NZ and bet $20 at 10-1 that they will. Essentially I'm betting $20 and will profit $80 if England don't win.
I'm confused... To me it looks like this:
100 @ 2 to 1 for England to lose = 200 if bet won
20 @ 10 to 1 for England to win = 200 if bet won
Total wagered = 120
Total profit = 200 -120 = 80 whether they win or lose, which is obviously your point. I guess the part about profiting $80 if England doesn't win confused me, cause you win either way.
Nice job.