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|Exacta trifecta betting||Your payout includes your potential winnings, plus whatever you bet originally. Thank you for signing up! Odds Board : The tote board, usually found in the infield. All of the dollars wagered on a particular race are placed in specific pools. To calculate implied probability, use the following formulas:.|
|Epl player of the year betting sites||American Odds. American Odds are the default odds at American sportsbooks. Related Posts. Payouts use the actual odds and are rounded down to the nearest nickel or dime, depending on the rules of the racetrack. And by doing so, you will be able to make and calculate better bets. There are several types of pari-mutuel horse bets. As a responsible bettor, it is important to understand proper bankroll management.|
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This rounding is called breakage. If you want to calculate the exact win odds on a horse, you will need to use a couple of other figures from the tote board:. Before the track pays off the winners, they deduct the "take," which is generally between 14 and 20 percent and is different in every state. This money goes to pay state and local taxes, payment for the horsemen, expenses at the track, and the track's profit.
To calculate the exact odds on your horse, just subtract the take from the total pool, then subtract the amount bet on your horse to give you the amount of cash to be paid out. Divide that figure by the amount bet on your horse to get the exact odds. This figure will always be rounded off to the nearest dime usually or nickel, as mentioned previously, before the payoffs are calculated.
Here is a simple example of win odds calculation:. Remember, your actual payoff may differ from this chart, as the odds on the tote board are rounded off, so odds on the tote board may actually be 1. For novices of horse racing betting looking at the tote odds board for the first time, win odds such as , or may look intimidating at first, but the math is quite simple and can be learned in minutes.
Typically, horse racing in the U. From a betting standpoint, the race track simply acts as broker for your transaction. All of the dollars wagered on a particular race are placed in specific pools. Money bet on a horse to win goes into the win pool. The more money placed on a horse to win the race, the lower the odds on that horse.
The less money wagered on the horse, the higher the odds. Bettors can also place exotic wagers on more than one horse and more than one race. Each exotic bet has its own pool, which determine the payoffs. All of our recommended sites are licensed and regulated in the U. Not all states allow pari-mutuel wagering on online platforms such as TVG or TwinSpires, but more than half do, with additional states continuing to loosen restrictions.
While pari-mutuel wagering is the law of the land at all U. Customers can also lock in exact win odds on their horse in races at Monmouth Park in Oceanport. Fixed-odds wagering is popular in other countries, especially Australia, where it has been credited with a surge in the popularity of horse racing betting. The tote board lists the win odds for every horse in the race, so simply look for the number of your horse to find the win odds.
The odds determine your payout, which is usually rounded down to the nearest dime known as breakage. The more money wagered on your horse to win, the lower the odds and payout. By examining the betting odds of each horse in a race, you can judge which horses, in your opinion, are being sent off at a fair price, which provide value and which may be overbet.
Horses sent off at significantly higher odds than you believe reasonable are often worth betting on. If your opinion is right, you will be rewarded. If a horse is sent off at odds 1. A word on takeout, which has become a hot topic for bettors. The amount tracks deduct from each wager is the takeout, which is used to pay track expenses, taxes and horsemen.
The bottom line is, the higher the takeout, the lower the return to bettors. Win, place and show bets generally offer lower takeout rates than exotic wagers. Used To American Odds? The pari-mutuel horse racing betting menu includes more than win bets.