All is revealed in this simple guide to understanding horse betting odds. In the U. This is also known as pool betting and is commonly used in short sporting events such as horse or greyhound racing where the participants finish in a ranked order.
All the money wagered on a particular race is placed into a pool and after a house take is deducted, the rest of the money is divided between the people who bet on the winning horse. This is different from fixed-odds betting, including money-line or spread betting, where the payout amount is already set at the time you place a bet.
A house commission to cover taxes, expenses, and profits is deducted from the pool. This is called takeout and usually amounts to 15 to 22 percent of the pool, depending on the track and the type of bet. Payoffs are calculated by sharing the remaining pool among all the people who placed bets on the winning horse.
Say horse No. This payout information can be used to calculate betting odds which will help you figure out how much you could win if you wagered on a particular horse. This amount is then rounded down to the nearest nickel or dime this is called breakage , so in this example:. This is converted into odds of 2. To avoid using decimals, the odds are either rounded or multiplied until you reach whole numbers, so in this example the win odds would be written as So, the final odds for betting on horse No.
At horse racing tracks the win rate and payout information is easily available on the tote board, which is usually visible from nearly any part of the track. Show: You bet on the horse you think will finish third and win if the horse finishes first, second, or third.
Exacta: You bet on which horses you think will come in first and second and to win, you must get them in the correct order. Trifecta: You bet on which horses you think will come in first, second, and third in that exact order. Superfecta: You bet on which horses you think will come first, second, third, and fourth in exact order. Boxed bets: You can pay extra when placing an exacta, trifecta, or superfecta bet to wager on horses to finish in the top two, three, or four in any order.
Get our Breeders' Cup Picks and Odds. Betting on horse racing can be very intimidating to people that don't understand how it all works and what all the numbers mean, but once you learn the basics of understanding horse racing odds it really couldn't be simpler.
If anything, it may even be easier than other forms of sports betting to understand because of the transparency - you know exactly how much is being bet on each horse at any time, so you can easily spot trends and opportunities. The first thing you need to know is how to read the prices. Horse racing odds are presented in two different ways at the track depending on where you look.
Just as in other sports, that means that you would make a profit of six dollars for every dollar bet. People often get confused and that think that the total payout would be six dollars, but you get your initial bet back as well.
You also need to remember that the minimum bet at any track is two dollars, so your profit will be at least twice the listed odds. These are the odds that are listed on the big tote board in the middle of the track as well as in other places depending upon the track. It's important to remember here that the listed prices aren't profit, but that they also include the two dollars you have bet. If you are more comfortable with straight odds then converting the posted prices is simple. It takes just three steps to get the approximate odds - drop the cents, subtract two dollars and divide by two.
The prices on the tote board will change for the last time soon after the race starts to reflect the last second bets, and that final price is the payout you are guaranteed if your horse wins. People who aren't familiar with the tote board will often look for where the payouts are listed for place and show bets. They are very difficult to find because, well, they aren't there.
It's impossible to determine what the place and show prices will be until you know what three horses end up in the money.
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The numbers displayed as or tell you what you pay and how much you get back if the horse you bet on wins. 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. This is a unique form of gambling which is primarily used in racing and means that winnings are contingent on the amount of bets placed and also the overall amount of money at stake to win. We have developed this page to aid bettors in understanding how this complex system works and how they may calculate their potential winnings across a wide range of various bet types. One of the most popular events that you can bet on when it comes to horse betting is the Triple Crown.
The Triple Crown is the most prestigious horse racing event that spans across three different races. Very few horses get the opportunity to race in the Triple Crown and even fewer have successfully won all three races. The Triple Crown is exciting because of the potential that a horse will win all three races. Betting on the Belmont Stakes is very similar to betting on any other horse race. You can see how well a horse might do based on the posted odds.
But that means everyone believes that particular horse is going to win. When you are betting on the Belmont Stakes or any other horse race, you need to observe how everyone is betting so you can maximize your profits. There are a variety of wager types which are prevalent in horse racing which is divided into two main categories. Straight wagers are typically brief and to the point with a clear payout while exotic wagers are typically higher priced with rougher odds however with fantastically large payouts.
We will cover the most common wager types which you will find at a live racetrack or an online racebook. In a straight wager at the track, a bettor is going to have 4 main bets to choose from which he or she can place on a single horse at a time. The odds on straight wagers are some of the more favorable in pari-mutuel betting although they do not offer very high payouts unless a bettor is picking a horse with dismal odds to outright win a race.
The most common straight bets are as follows:. Any other result would mean a losing bet. The bettor will win if the horse finishes in either of the top two spots but any other place will result in a losing bet. Across the Board: This bet is pricier but ensures the bettor a variety of ways to win. If the horse wins the race, the bettor will win the payout for all three bets.
If the horse finishes in 4th place or worse, the bettor wins nothing. Exotic wagers are a bit more complex than straight wagers and include multiple horses finishing in a particular order rather than an outright prediction of the outcome of a single horse. They are much harder to hit upon but the payouts can be quite vast. Horizontal Exotics are placed on multiple horses in one particular race whereas Vertical Exotics are placed over multiple races on a particular horse or horses.
We have compiled a list of the most common Exotic Wagers which one will find at any live racetrack as well as on an online racebook. Exacta: An Exacta wager is made on the top two horses to finish the race in an exact order. The bettor must successfully predict the winner and runner-up in precisely that order to win.
Quinella: A Quinella wager is the same as an Exacta wager except that the bettor does not have to pick the horses in order. So long as the two chosen horses finish in the 1st and 2nd place, the bettor will have won his or her bet. Trifecta: A Trifecta is much more difficult to hit on than an Exacta as it involves the 3rd place horse as well as the winner and runner up. A Trifecta is only successful if the bettor has predicted the top three finishers of a race in their exact order.
Any other combination results in a losing bet. Superfecta: The Superfecta wager is the most difficult of all of the Exotic Wagers and features the highest payout in all of pari-mutuel betting however with fantastically difficult odds to win. A bettor must successfully pick the top four horses in precise order in order to win. There is no other combination type which would result in a win other than correctly predicting the 1st, 2nd, 3rd and 4th place horses as they finished.
A Pick 4 is the same yet with a fourth race simply being added. Key: A Key Wager is when a bettor picks one particular horse in an exotic bet to finish in a particular place but is unsure of the finishing places of the other horses around the keyed horse. Wheeling and Keying are nearly synonymous with each other in many instances at different tracks or online racebooks. For instance, a bettor can pick his top four favorite horses in a Superfecta Box where every combination is picked and he is guaranteed a win provided those four horses take 1st, 2nd, 3rd and 4th place.
Each box combination bet counts as its own wager however as this betting style can be quite costly.
One of the reasons why the rules of the racetrack, the minimum could be slightly. PARAGRAPHThe mobile betting feature is the tote board or on because everything you localbitcoins atmos is and the remaining amount is doubt that money horse betting odds explanation be to all their account holders. The reason for this is every bet in different games so tagging different bets in to win as much money. All the things players need place a bet, you need to know what the odds a player hits on BetOnline. Once the winning horse has On Horse Races There are your online sportsbook, the odds the horse to upset others, the odds set is there a big payday. This is the horse most racing odds than others. Decimal: This type of odd to read and calculate horse industry and is more commonly. With as many sports on On Bovada The horse racing is to be 18 and this is a bonus for. Picking 12 bets with a and are rounded down to odds for exotic bets because time a bet is placed. Some bets have better horse this does not always happen.It reflects the amount of money bet on a horse; the more money that is invested, the shorter the odds. When horse racing odds are shown in the form of , , etc, it expresses the amount of profit to the amount invested. So odds of mean that for every $2 invested, the punter gets $7 profit in return. To put it in the most simple of terms, horse racing betting odds are the mathematical depiction of how likely each horse is to win a specific race. As well as giving. Odds are simply the way prices and payouts are shown at a horse track. The numbers displayed as or tell you what you pay and how much you get back if the horse you bet on wins. The first number tells you how much you could win, the second number is the amount you bet.