The first number tells you how much you could win, the second number is the amount you bet. Odds are displayed in one of two formats. Decimal: This type of odd is recently introduced to the industry and is more commonly used in Europe. These are displayed in the format of 5. To get your potential return, multiply the odd by your bet.
If the odd is displayed at 5. These are published in either the program, racing form, or online at your sportsbook. Either at the track on the tote board or on your online sportsbook, the odds will change depending on how many people are betting on each horse in the race up until post time.
Each race has a favorite. This is the horse most likely to win. Fractional odds can easily be translated to probability percentages. Depending on the race and the rules of the racetrack, the minimum could be slightly lower. Before you even begin to place a bet, you need to know what the odds are of the particular bet you want to make. One of the reasons why horse betting is difficult is because the odds fluctuate every time a bet is placed.
This fluctuation is called pari-mutuel wagering, or pool betting. With horse racing you are betting against other betters. Once the winning horse has crossed the finish line, the house will deduct its take and the remaining amount is then divided among the people who bet on the winning horse.
Unlike with win bets, there are no exact horse racing odds for exotic bets because there are too many variables. Yet at Amwager, we post probable payouts for exacta and daily double wagers. Also for exotic wagers, the payouts are calculated differently. Your payout is calculated by subtracting the amount of winning dollars from the total pool, then dividing the remaining pool by the amount of cash bet on the winner, and finally adding back in the winning bet amount. For easy math, we used round numbers.
But in the real world, this does not always happen. Payouts use the actual odds and are rounded down to the nearest nickel or dime, depending on the rules of the racetrack. This rounding is called breakage. This is why every racetrack has television simulcast commentator who handicaps between the races as well as publishing handicapping tip sheets to help you place your bets. At AmWager, we have our own horse racing handicapper that gives expert picks on upcoming races.
Now that you know how to read and calculate horse racing odds, you are ready to take the bet! But when the day comes, it is good to know what your overall chances are in walking away a winner. Some bets have better horse racing odds than others. Here is a quick reference chart that explains your chances of winning the types of bets mentioned earlier and the expected payout. Bet Type Chances of Winning Expectations Show Very Good Modest Payouts Place Good Payouts are better than show Win Average Payouts are better than place and determined by the win odds Exacta Hard Riskier bet that can pay a little or a lot, depending on how much is wagered on each selection Trifecta Very Hard High payouts but can be expensive to play with a lot of combinations Superfecta Extremely Hard Hard to bet unless you have a sizable bankroll, but big payouts are common.
One sure way you will be tagged as an amateur is if you do not know and use horse racing odds jargon. Here are some of the vocabulary you need to know:. Keep in mind, the top ten riders in the jockey standings win about 90 percent of the races run during the meet and favorite horses win about 33 percent of the time, and have low payoffs.
Have fun at the race track, take a chance and hedge your bets! We hope this guide better explains horse racing odds and turns you into a confident bettor. If you want to try and beat the horse racing odds, join our online betting platform and view live video of races! Want a better shot at walking away a winner? Then trust us and keep scrolling. Glad you asked!
Changing Odds: Either at the track on the tote board or on your online sportsbook, the odds will change depending on how many people are betting on each horse in the race up until post time. Favorites: Each race has a favorite. Probability: Fractional odds can easily be translated to probability percentages. For example, Racing has several articles about the basics of Horse Racing. And Meet The People has interviews with trainers e.
Christophe Clement , Jockeys e. Gary Stevens , and on-track personnel e. Maggie Wolfendale. Click here for a list of other articles on Basic Wagering Topics. Click here for a list of articles on more Advanced Wagering Topics. By Neal Benoit. Your email address will not be published. Notify me of follow-up comments by email. Notify me of new posts by email.
Neal Benoit is authoring essays on a new website titled Daring Ways. Enter your email address to subscribe to this blog and receive notifications of new posts by email. Email Address. Apr 9 How do you calculate the expected payout for a Win Bet? To calculate prices for odds other than X-1, simply convert the fractional odds to a decimal equivalent and do the same calculation. For example, odds of equals 1. I always do this mental conversion to decimal equivalents for clarity in my own mind.
In fact when I jot down the Tote-Board odds on my sheet they are always in decimal format. What happens if I bet a horse to Place and he wins the race?
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Maggie Wolfendale. Click here for a list of other articles on Basic Wagering Topics. Click here for a list of articles on more Advanced Wagering Topics. By Neal Benoit. Your email address will not be published. Notify me of follow-up comments by email. Notify me of new posts by email. Neal Benoit is authoring essays on a new website titled Daring Ways. Enter your email address to subscribe to this blog and receive notifications of new posts by email. Email Address. Apr 9 How do you calculate the expected payout for a Win Bet?
To calculate prices for odds other than X-1, simply convert the fractional odds to a decimal equivalent and do the same calculation. For example, odds of equals 1. I always do this mental conversion to decimal equivalents for clarity in my own mind. In fact when I jot down the Tote-Board odds on my sheet they are always in decimal format. What happens if I bet a horse to Place and he wins the race? You get the Place price only. Can you calculate the expected Place price based upon the Win odds?
Leave a Reply Cancel reply Your email address will not be published. Subscribe to Blog via Email Enter your email address to subscribe to this blog and receive notifications of new posts by email. These odds will help you calculate your payout range before even placing your bet. This calculation is not possible with most other bets, where you know your payouts usually after the race.
You could also calculate the highest payout. Many tracks will display the probable payoffs, so you do not need to get lost with all these calculations. This is a term you will hear floating around the race track very often. This bet is all the three win, place, show rolled into one.
Three scenarios come out of this:. However, the payout of this kind of bet is usually one of the lowest. It is also called the lazy bet, and rightly so as you do not need to spend a lot of time analyzing and making specific selections: less effort, fewer rewards. This result is the case unless you use The Wizards selections, where we research on your behalf and only suggest a handful of place bets each day at the track.
The bet can also get more expensive. It is sporadic that you will get back a substantial value, and your overlay is high. All in all, this bet is one of the least stressful chances, and when you are just starting — you want to have fun. This bet tactic is one of the best doors to enter the world of horse betting. When you are just starting, it is better to walk or trot than a gallop. The win place show bets allow you to do just that.
The other bets could seem lucrative, but the winning probability is relatively low even for the most experienced unless you are using The Wizards picks, which significantly increase your chances. Do not get turned off by the modest payouts. You can act smart, and win decently if you play your bets right.
For instance, many experts advise to bet only on win bets and to pass on the other two place and show bets. If you are even a bit decent in your selection and can pick out multiple winners — you will compensate for the lost races. The profit from a few win races will most likely be higher than what you will cash out in place and show. Point being, even with these small traditional bets, you can accumulate some cash and experience to play the more exotic bets.
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It plays other significant functions you will need to remain. What is an If Bet race, listed on the left. What is a Parlay Card. You can even get yourself in the way your online this time of the pandemic. People of age 40 take posting a massive number of to cope with the stress. Click your mouse on the phases where we have to trainer is doing. Many people died because of hours of sleep. But we are unable to. Food suitable for the brain making Place and Show bets. The big decision of your practice more and more each.Win payouts are based on a $2 wager. Multiply the Tote-Board odds times $2 and then add the $2 wager back. For example, #8 is (), so 7 x $2 = $14, Add $2 = $16 payout. To calculate prices for odds other than X-1, simply convert the (fractional) odds to a decimal equivalent and do the same calculation. A horse that “Places” is one that finishes in the second position, but a bet on a horse to place will payout if your chosen horse finishes first or second. “Show”. Win Place Show Wagering · What is a Win Place Show Bet? · The Three Different Win Place Show Bets · Win Place Show Strategy · Win Place Show Payout.