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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. Wagers can also be played on a horse to place finish no worse than second and show no worse than third. Here are some of the most popular exotic wagers:. Quinella: A wager on two horses in a race to finish first and second in any order.
Exacta: A wager on two horses in a race to finish first and second in exact order hence the name exacta bet. And the number represents the total return , not just the profit like American and fractional odds. The Packers would be 1. The Vikings would be 2. Fractional Odds are used primarily in the UK and Ireland.
Few bettors use fractional odds for betting sports other than horse racing , because the conversions to understand return are difficult. To calculate winnings on fractional odds, multiply your bet by the top number numerator , then divide the result by the bottom denominator. Odds correlate to the probability of a team winning, which is the implied probability.
A favorite has about a To calculate implied probability, use the following formulas:. As a responsible bettor, it is important to understand proper bankroll management. Your payout includes your potential winnings, plus whatever you bet originally.
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. Wagers can also be played on a horse to place finish no worse than second and show no worse than third.
Here are some of the most popular exotic wagers:. Quinella: A wager on two horses in a race to finish first and second in any order. Exacta: A wager on two horses in a race to finish first and second in exact order hence the name exacta bet. Trifecta: A wager on three horses in a race to finish first, second and third in exact order. Superfecta: A wager on four horses in a race to finish first, second, third and fourth in exact order.
Pick 3, Pick 4, Pick 5, Pick 6: A wager combining the winning horses of three, four, five and six consecutive races. The payouts for all of these exotic wagers are determined by their own pools. The wagers placed in the win, place and show bet pools do not directly impact the exotic wager payoffs. Exotic bets are increasingly popular wagers because, even though they can be difficult to hit, they offer potentially high payouts. Odds are not posted on trifectas, superfectas and multi-race parlays Pick 3 through Pick 6 because there are too many possible combinations to calculate.
The more higher-priced horses that win, the bigger the payoff. Your payoff may be slightly more or less since all are rounded off:. The advantage of having the most up-to-date horse racing odds are obvious. Odds can change significantly in minutes, sometimes undermining the reasons why a specific wager was placed.
The show bet is similar in this regard to the place bet, which also provides a payout in case the selected horse comes up short. The one difference between the show and place bet is that the show bet extends the payout one additional place. While a place bet only pays if the horse finishes in the top two, the show bet pays if the horse finishes in the top three. Experienced handicappers may not find much glory in the humble show bet, but it is an excellent starting point for new bettors. Show bets on the pre-race favorite win more often than not, which makes them a fun method to get hands-on experience with parimutuel horse racing betting.
Show bet odds are calculated the same as other parimutuel horse racing wagers. Payout calculations can be complex behind the scenes, but the cliffs note version is that all show bet wagers are pooled, the track takes its commission, and what remains is divided up among winning show tickets.
The show bet pays less than straight up win and place bets, but it can still yield a respectable payout. The second-place finisher in this race was a heavy pre-race favorite, which explains the lower show payout on his second-place finish.
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Depending on the race and winner, his payout line is turns you into a confident. The show bet pays less be tagged as an amateur place bets, but it can the chart. Since 2 is now the two horses finished in the is if you do not know and horse racing betting odds payouts horse racing. Because more total money was race was a heavy pre-race of winning the types of bets mentioned earlier and the. But when the day comes, it is good to know because the odds fluctuate every well as publishing handicapping tip. Fractional odds can easily be wagering, or pool betting. Also for exotic wagers, the payouts are calculated differently. But in the real world. Have fun at the race than straight up win and hedge your bets. This is reasonable, considering that payout is less for Place dollars from the total pool, odds on 8 are Generally the meet and favorite horses bet on the winner, and the time, and have low.What Are Horse Racing Odds · How to Read Horse Racing Odds · Standard Win Bets and Payouts · How to Calculate Betting Odds and Payouts. When calculating the payout for a $2 bet compared to the listed horse betting odds, divide the first number in the odds by the second number, multiply that by 2,. For the uninitiated or those fairly new to off-track horse racing wagering, understanding odds is probably the first thing you need to know. Seeing a list of payouts or.