Math question

[cecil]

Someone help me out here, I recently wagered $220 at the english odds of 1.10 on colorado avs to win the series. I thought this would pay 22 dollars. The actual payout is 20.90 cents at SIA. I thought 1.10 was equal to 1/10 or -1000. Where am I going wrong?

[ThomasV]

Is there betting taxes at this place?

[8thpole]

1.10 is the same as -1000 or 10 cents won for every dollar wagered. If you have the figures correct they owe you $1.10.

[cecil]

Thanks guys, thats what I thought. I wanted to make sure I was not completely losing it. I will email them and ask em what the heck is going on.

[cecil]

Reply from SIA: {his bad english not mine)

"I apologize for the misconception as those are the correct as for display purposes we only show 2 decimal places. When in actuality the odds are figured at 14 decimal places and are rounded to the nearest 2 for display purposes."

So, apparently the odds it says your bet was made at, are not the correct odds. Those are secret