Does anyone have the equation for how bet winnings are handed out?

I know the payout cannot exceed over 5x the betted amount, and I'm too lazy to figure it out myself. (probably couldn't anyways)

I honestly don't think anyone knows the exact way it's handled. I've gotten weird ass amounts of TC from betting. Bet 2k and got 8k in profit. Made no sense but it happened.

lets say i bet 50% of the bets on the winning guy. (in this case, lets say 10k total bets on winning guy and 10k on losing guy, i bet 5k on winning) Then in return, I get 50% of the bets on the losing guy since i bet 50% winning. This is calculated after the house and the profit the winning guy gets for winning is taken out. (so you get roughly 4k back).

If I am wrong, please ignore me. I could just be dumb.

pretty sure it has to do with the ratio of the maximum amount of tc wagered as opposed to the amount of tc you wagered

all the tc that have been bet(in both) will be divided to each who bet on the winner.
probably it is.

Also, you can only get maximum 5x of what you betted.