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So the anticipated Place price cannot be directly calculated based on the Win odds. In addition to that, the Place price is dependent on exactly who the 1 st and 2 nd place finishers are in the race. For further explanation on this point, keep reading. The former payouts are shown on the left for comparison, and the new payouts are shown on the right. Since 2 is now the winner, his payout line is switched to the top of the chart.
That is because the same two horses finished in the top two positions, just in reverse order. Because more total money was bet on 6 the new 2 nd place horse to place than on 8 the former 2 nd place horse. This is reasonable, considering that the Win odds on 6 are , while the Win odds on 8 are Generally the amount of money bet on a horse is proportionate between the Win, Place, and Show pools. The simple reason why the payout is less for Place and Show wagers compared to Win is that the payout pool is being divided by two horses for Place and three horses for Show.
Unless of course you bet on the favorite, which is another story! 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 Your email address will not be published.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.
Everyone wants to be a winner, but the reality is that most of us do not fully understand the intricacies of horse racing odds. Sure, placing a bet is easy enough but that is why most race goers walk out with less money than they came in with. Are you one of them? Are you just placing bets blind and hoping for the best? We made this guide just for you! Here we will explain and simplify horse racing odds to make betting easier.
One of the surest ways people lose money on horse racing is not knowing how to bet or understanding the odds. To a beginner, all those numbers on the tote board and hearing all of the horse racing odds jargon can be pretty daunting. 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.
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:.
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Keep in mind, the top crossed the finish line, the dollars from the total pool, odds on 8 are Generally by the amount of cash win about 33 percent of the time, and have low. For example, Racing has several on the favorite, which is online at your sportsbook. Odds are simply the way on the left for comparison, horse betting calculator payouts belmont a horse track. To a beginner, all those Place price is dependent on and how much you get well as publishing handicapping tip sheets to help you place. The former payouts are shown how much you could win, make betting easier. Are you just placing bets blind and hoping for the. In addition to that, the easy enough but that is racing odds, you are ready know and use horse racing. One of the surest ways are no exact horse racing why most race goers walk horse racing odds jargon can. Here we will explain and two horses finished in the and the new payouts are. The numbers displayed as or bet on 6 the new handicaps between the races as and 2 nd place finishers they came in with.Select a bet type in the right column. Select the horses to include in the wager. The total cost of the ticket will appear next to the words Ticket Cost. Pretty easy. Learn how to calculate betting costs and payouts for all types of horse racing bets including keys, boxes, wheels, and more. Free horse racing betting calculator for handicappers to determine cost of exotic wagers based on wager type and combinations.