Every year, millions of dollars is gambled on the Melbourne Cup. Every year, people lose lots of money on the Melbourne Cup and other horse races around the world. Some people do get lucky and win money.

Today, you are going to get a chance to gamble on the Melbourne Cup (using m&ms only). I will give you all six m&ms. You must use the m&ms to place bets on four different races (race 3, 6, 7 & 10). To win, the horse/s you choose must win their race. If your horse wins you multiply their odds by the amount of m&ms you bet on the horse.

Example – If I bet 1 m&m on Dunaden in the Melbourne cup and it won, I would win 26 m&ms. If I bet 2 m&ms on Dunaden I would win 52 m&ms. I would this amount because I multiply the amount of m&ms by the horse’s odds. Dunaden’s odds are $26, meaning if I bet 1 m&m I multiply 26 x 1, if I bet 2 m&ms I multiply 26 x 2.

The lower the odds, the better chance the horse has of winning. If a horse has high odds, it’s chances of winning are quiet slim. It is all about chance.

Your tasks.
1. How much would I win if I bet 2m&ms on Fiorente in the Melbourne Cup?
2. How much would I win if I bet 3m&ms on Dunaden in the Melbourne Cup?
3. How much would I win if I bet 3m&ms on Mourayan in the Melbourne Cup?
4. You will receive 6 m&ms. You must use all of your m&ms and place one bet on races 3, 6, 7 and 10. You may choose to use 3 m&ms in one race and one m&m in the other three races. It is up to you. Make sure you look at the odds carefully prior to betting. Record your bets in a comment on this post. You must write down the race number, your horse’s number, name, odds, the amount of m&ms your betting and the amount you will if your horse wins. Look at the example below.

– Race 7, number 1, Dunaden, odds $26, bet 1m&m, win 26 x 1 = 26.