How To Calculate Horse Racing Odds? (Question)

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.

What are the best odds in horse racing?

  • Races with 4 runners and more: 1/5 of the odds for finishing in first and second positions.
  • Races with 5-7 runners: 1/4th of the odds for finishing in first and second positions.
  • Races with 8 runners and more: 1/5th odds for finishing in first,second and third positions.

What does 5’2 odds mean in horse racing?

The tote board does not show decimals, therefore, 5/2 odds means that the odds on a horse are 5 divided by 2, or 2.5-1. If you had placed the minimum bet of $2 on that horse to win, your payoff will be: $10 (5 x 1 x $2) + your original bet of $2 – for a total of $12.

How are horse race odds payouts calculated?

How do you calculate the expected payout for a Win Bet? 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 (7-1), so 7 x $2 = $14, Add $2 = $16 payout.

How are horse bets calculated?

Multiply your total times two if the Pick Six is a $2 wager. For example, two horses in each race would be 2 x 2 x 2 x 2 x 2 x 2 = 64 possible combinations = $64 if a $1 Pick Six = $128 if a $2 Pick Six. Note – most tracks have a $2 base wager amount on the Pick Six.

What is the most profitable bet in horse racing?

Accumulator. The Accumulator and other multiple horse bets (pick 6) are the most profitable horse racing bets and the riskiest. To win an Accumulator bet, you have to correctly forecast the winner of six races before the start of the first race.

What does 4 to 5 odds mean in horse racing?

Before betting on horse races you have to understand basics about betting odds. For example, you need to know what 4 to 5 odds mean. So, for example, a $10 win bet on a 4-5 favorite returns $18 (5 x $2 (the base unit)=$10, the amount of the original bet, plus 4 x $2=$8).

What does 6 to 5 odds pay?

The difference between 3:2 blackjack and 6:5 blackjack is simple. If you have a winning blackjack hand, you get paid 3 dollars for every 2 that you bet, or 1.5:1 odds. In 6:5 you get paid $6 for every $5 you bet, which is 1.2:1 odds.

How much does 7 2 odds pay?

So odds of 7-2 mean that for every $2 invested, the punter gets $7 profit in return. This means when you bet $2, the total return if the bet is successful is $9. Similarly, if a horse is at even money (ie 1-1), it’s $2 profit for every $2 invested, or a total return of $4.

How much money would you win if you bet $100?

A winning $100 stake could win up to $150 in profit, for a total payout of $250 payout. At +250 odds, a pick is a definite underdog. A $100 wager stands to win $250 in profits, for a total payout of $350.

How are each way bets calculated?

Each Way Betting In Summary When you bet each way, you have two bets; one for the horse to finish first, and a second bet for the horse to finish in the top four or five (varies according to by race). The winnings for the latter bet are calculated by applying the fraction (usually 1/4) to the original odds available.

What do odds 10 1 mean?

Whenever you see two numbers separated by a slash, i.e. 10/1, this is a fractional betting odd. Fractional odds allow you to calculate how much money you will win on your bet in comparison to you stake. The number on the left(e.g. 10) is how much you will win. for every £/€1 you bet, you will win £/€9.

Horse Racing Odds Explained: How to Read Odds & Calculate Payouts

Horse Racing Odds Explained: What to Look for and How to Read Odds Payouts should be calculated. We have reached the end of the road. Walking to your favorite racecourse is something you take great pride in doing. You understand your subject matter and are confident in your selections. You are aware of the odds and are able to put your bets with confidence. The race begins, the excitement grows, the finish line roars, and you are greeted by your pals as you walk out the door with money in your pocket.

Sure, it’s simple to place a wager, but that’s also why the majority of racegoers leave with less money than they had when they arrived.

Are you simply putting your money on the line and hoping for the best?

We’re not going to pass judgment.

In this section, we will explain and simplify horse racing odds in order to make betting more accessible.

All of the numbers on the tote board, as well as hearing all of the horse racing odds lingo, might be intimidating to someone who is just getting started.

Then put your faith in us and continue reading.

What Are Horse Racing Odds

The way pricing and payments are shown at a horse track is referred to as the odds. If you bet on a horse and it wins, the figures displayed like 4-7 or 2-5 indicate you how much you will pay and how much you will receive back. The first number indicates the amount of money you may win, while the second number indicates the amount of money you have wagered. As a result, if the odds are given as 2-1, you will receive $2 for every $1 that you wager. It is possible to view odds in one of two ways.

  1. The phrase “four to one” might be used to describe this structure in spoken language.
  2. Decimal: It is just recently that this form of strange has been brought to the business, and it is more widespread in Europe.
  3. To calculate your possible return, multiply the odds by the amount of money you are betting.
  4. Let’s look at some examples of horse racing odds in the United States: odds of 6-5
  • 6 to 5 odds are commonly heard, which means that for every $5 you stake, you will make $6 in profit. Six divided by five plus one equals 2.2 times the initial $5 stake, which results in a payout of $11.00.
  • Spoken: odds of 20 to 1
  • This means that for every $1 wagered, you will receive a profit of $20. Actual Payment: 20 divided by 1 plus 1 = 21 times the original $1 = $21 payout
  • 20 divided by 1 plus 1 = 21 times the original $1 = $21 payout
  • To put it another way, the odds are 10 to 2
  • This means that for every $2 you stake, you will make $10 in profit. Actual Payoff: 10 divided by 2 + 1 is 6 times the initial $2, which equals $12 in total payout.

How to Read Horse Racing Odds

So, what exactly is the correct way to read horse racing odds? We’re glad you inquired! Let’s start from the beginning and explain what we’re talking about. The Morning Line: Before any of the real gambling takes place, there are odds known as the “morning line.” The odds for each horse are set by the track’s handicapper, and they are displayed here. These can be found in the program, the racing form, or online at your favorite sportsbook, depending on where you live. In today’s horse racing, the morning lines are rarely reliable since they alter so rapidly as more bets are made on the horses.

This can be seen on the tote board at the track or on your online sportsbook.

This is the horse that has the best chance of winning.

Probability: Fractional odds may be readily converted to probability percentages using a simple mathematical formula.

A 2/1 fraction indicates that for every two failures, there is one possibility of success, giving you a 33 percent chance of success; 3/2 indicates a 40 percent chance of success; 2/3 indicates a 60 percent chance of success; and 10/1 indicates a 9 percent chance of victory.

Standard Win Bets and Payouts

When it comes to horse racing, the bare minimum standard wager is $2. The minimal amount might be somewhat lower depending on the race and the rules of the racecourse. Before you even begin to consider placing a wager, you must first determine what the odds are for the wager you intend to put. This simple graphic demonstrates precisely what the payoff would be on a $2 winning wager at various odds, and it is easy to understand:

Odds $ Payout Odds $2 Payout Odds $2 Payout
1/9 $2.20 8/5 $5.20 7/1 $16.00
1/5 $2.40 9/5 $5.60 8/1 $18.00
2/5 $2.80 2/1 $6.00 9/1 $20.00
1/2 $3.00 5/2 $7.00 10/1 $22.00
3/5 $3.20 3/1 $8.00 11/1 $24.00
4/5 $3.60 7/2 $9.00 12/1 $26.00
1/1 $4.00 4/1 $10.00 13/1 $28.00
6/5 $4.40 9/2 $11.00 14/1 $30.00
7/5 $4.80 5/1 $12.00 15/1 $32.00
3/2 $5.00 6/1 $14.00 16/1 $34.00

How to Calculate Betting Odds and Payouts

One of the reasons why horse betting is tough is that the odds change every time a bet is placed, which makes it impossible to predict the outcome. Pari-mutuel wagering, often known as pool betting, is the term used to describe this variation. In most traditional betting games, you’re pitting your wits against the house. Horse racing involves placing bets against other people who are also betting on the horse. As soon as the winning horse crosses the finish line, the house will deduct its commission, and the leftover funds will be shared among the customers who placed bets on the winning horse.

The sorts of horse bets available at pari-mutuel facilities are many.

Straight Bets

  • Place your winning bets now by selecting the horse that crosses the finish line first. Place Bets: You are placing a wager on a horse to finish in second place. Show Bets: Betting on a horse to come in third place in a race.

Exotic Bets

  • Exacta: When you choose the first and second place horses in the order in which they finished
  • Trifecta: Pick the first three finishers in a single race in the order in which they finished
  • Using the Trifecta Box, you may choose any three of the first three finishers to finish in any order. The trifecta formula is as follows: pick three horses, choose one to win and the other two to finish second or third
  • Superfecta: Select the order in which the first four finishers in a single race will cross the finish line. Superfecta Box: Choose four finishers who can finish in any order
  • They can finish in any order. Pick four finishers and choose one to win
  • The other three finish in whatever order
  • This is the Superfecta formula.

Because there are too many variables in horse racing, unlike with win bets, there are no accurate horse racing odds for exotic bets. Nonetheless, at Amwager, we publish estimates of possible rewards for exacta and daily double wagering. Payouts for exotic bets are computed in a different way as well, as previously stated. After the house gets its cut, which is normally 15 percent of the total, the remaining money is shared among the bet winners. Calculating your payment begins by deducting the number of winning dollars from the entire pool, dividing the remaining pool by the amount of cash placed on the winner, and then adding the amount of winning dollars back in.

As an example, consider the following: The winning bet pool for this race is $100,000.

The total amount of money wagered on the winning horse was $42,500.

He is victorious!

  • To calculate the chances, divide $85,000 by $42,500 and multiply by $1 to obtain $1.00, or one-to-one odds. To calculate the payment per dollar (or decimal odds), divide $85,000 by $42,500, which is $2.00
  • Your $2 bet will return a total of $4.00
  • You made a $2.00 profit on a $2.00 wager
  • And

We utilized round numbers in order to make math easier. The real world, on the other hand, does not always follow this pattern. Based on the real odds, payouts are rounded to the closest nickel or dime, depending on the rules of the racetrack where it is being played. Breakage is the term used to describe this rounding. In order to assist you in placing your bets, every racecourse employs a television simulcast commentator who handicaps the horses in between races, as well as the publication of handicapping tip sheets.

Best Odds in Horse Racing

With your newfound knowledge of how to read and calculate horse racing odds, you’re ready to place your wager! But, when the big day arrives, it’s helpful to know what your odds are of walking away a winner are in general.

Some bets have greater horse racing chances than others, depending on the wager. Here is a brief reference graphic that shows your possibilities of winning the various sorts of bets stated previously, as well as the projected payouts for those bets.

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
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Glossary: Horse Racing Odds Jargon

One certain way to be labeled an amateur is if you do not understand and do not employ horse racing odds lingo while discussing the sport. Here are some examples of language you should be familiar with:

  • Fixed-Odds: A wager in which you receive the odds stated by the better operator at the time of placing your bet, regardless of the outcome of the game. Please keep in mind that AmWager does not practice fixed-odds betting. The term “late money” refers to when a horse receives a large amount of money just before a race
  • Odds-On: A word used to describe a strong favorite to win when it is necessary to invest more money in order to win. A horse with a 1/3 chance of winning is considered to be a sure thing. In this case, you are betting against the house, but if you win, you will earn several multiples of your investment back. A horse with a 50/1 chance of winning is considered long shot. You have a great possibility of winning, but you will only make a little profit if you choose the short odds. A 6/4 odds is considered short odds. Carryover money is the money that remains in a pari-mutuel pool if no one correctly picks the winners. All of the money that is left in the pool gets transferred to the next instance of that pool. A sliver of consolation: a payment Pick 6 will offer a little consolation reward to every play that comes close to winning, even if no one makes the correct selections. This is how the name “consolation prize” came to be. Most of the time, the consolation prize is far smaller than the entire payout. The track is obligated to make up the difference if the total amount of bets is insufficient to pay the holders of the winning tickets the legal minimums
  • Otherwise, the track is not compelled to make up the difference. The tote board, which is normally located in the infield, is known as the odds board.

And They’re Off!

When it comes to horse racing chances, there are so many variables to take into consideration that it’s no surprise that some people find it difficult to understand. Keep in mind that the top 10 jockeys in the jockey rankings win around 90 percent of the races held during the meet, and that favored horses win approximately 33 percent of the races held during the meet, with modest payoffs on average. At the racetrack, have fun, take a chance, and hedge your bets! We hope that this tutorial has helped you better understand horse racing odds and has helped you become a more confident bettor.

We’ll meet again at the finish line!

Published on October 15, 2011 at 9:29 a.m.

Our in-depth understanding of the sport not only results in a fantastic betting platform, but it also results in outstanding handicapping.

Horse Racing Odds Betting Calculator

Once understanding how to read horse racing odds, it is critical to understand how to compute payments for your bets after you have placed them. There is a payoff possibility for each sort of bet, however it is frequently difficult to determine some payouts due to the fact that the odds are continually fluctuating. Horse race betting is based on the pari-mutuel betting system, which means that you are betting against other bettors rather than against the horse itself. Bets are collected in a pool for each wager, and the money is distributed after the track takes a portion of the money for use in future races.

However, depending on the track or online betting provider, the odds might be significantly lower.

Odds $2 Payout Odds $2 Payout
1/9 $2.20 7/2 $9.00
1/5 $2.40 4/1 $10.00
2/5 $2.80 9/2 $11.00
1/2 $3.00 5/1 $12.00
3/5 $3.20 6/1 $14.00
4/5 $3.60 7/1 $16.00
1/1 $4.00 8/1 $18.00
6/5 $4.40 9/1 $20.00
7/5 $4.80 10/1 $22.00
3/2 $5.00 11/1 $24.00
8/5 $5.20 12/1 $26.00
9/5 $5.60 13/1 $28.00
2/1 $6.00 14/1 $30.00
5/2 $7.00 15/1 $32.00
3/1 $8.00 16/1 $34.00

Breakdown of Bets

In horse racing, payouts are determined on the type of wager that is placed, with the amount paid out differing significantly between straight and exotic bets. Consider the following sorts of bets to have a better understanding:

Straight bets:

Win You select the winning horse of a race.
Place You select the second-place finisher of a race.
Show You select the third-place finisher of a race.

Exotic bets:

Exacta You select the first- and second-place finishers of a race in the exact order.
Trifecta You select the first-, second-, and third-place finishers of a race in the exact order.
Superfecta You select the first-, second-, third-, and fourth-place finishers of a race in the exact order.

While win bets are straightforward to compute using the table above, exotic bets might be more difficult to calculate. Due to the large number of variables involved with exotic bets, there are no accurate horse racing odds for them. However, for some wagers like as the Exacta, the majority of the biggest online sportsbooks provide a probability of payoff. In addition, payouts for exotic bets are calculated differently, with 15 percent of the money left over after the house gets its share being distributed among the winners.

This amount will then be put back into the winning wager amount as a final stage in the process. Listed below is a breakdown that might help to simplify what appears to be a complicated process:

  • Winning bet pool: $100,000
  • House cut: $15,000 (15 percent) Equals $85,000 remaining
  • Total winning horse bets: $42,500
  • Total winning horse bets: $100,000
  • Your wager is $2.
  • To calculate the chances, divide $85,000 by $42,500 and divide by $1.00 to get $1.00 (1 to 1 odds)
  • Payout per dollar: $85,000 divided by $42,500 is $2.00
  • Payout for a $2 bet equals $4.00
  • Profit on a $2.00 bet equals $2.00.

Actual horse race betting payment methods are determined by the racetrack and are based on the current odds available. Breakage is the term used to describe how coins are rounded down to the closest nickel or dime.

Chances of Hitting Different Bets

Another important factor to consider when calculating rewards is the type of stake you put on the table. Your chances of collecting will vary depending on the wager, and you will have anything from a very strong probability to a quite improbable chance of collecting. The more difficult it becomes to win a certain bet, the greater the potential reward for that wager grows. Here are some of the most prevalent sorts of horse racing bets, as well as how difficult it is to hit them and what the payoff potential looks like for each one:

Type of bet Difficulty to collect Payout potential
Superfecta Out of all of the most common horse racing bets, the Superfecta is the hardest to hit. The Superfecta often costs a lot to make an effective bet, but if you did, you are likely looking at really big payouts.
Trifecta Not as hard as the Superfecta, but still one of the most difficult bets to hit. Trifectas often offer high payouts, but they are also expensive given the various combinations you can select.
Exacta The Exacta is a moderately difficult bet to hit but far more achievable than the Trifecta and Superfecta. The Exacta is riskier than straight wagers, and the payout can vary widely depending on the odds of the runners and how much you wager.
Win The Win bet is your all-around average bet. The payouts are better than the other straight wagers and are easy to calculate by odds.
Place There is a good chance at hitting the Place bet as your horse just has to finish in the top two. Payouts are not often high, but they are still bigger than the Show bet.
Show The Show bet is the easiest bet you can place. Show bets offer decent and modest payouts but nowhere near as much as the other options.

There are many various components to horse racing odds to consider, but they are not quite as complicated as they first appear to be. Knowing how the odds operate, what factors influence them, and how to compute payouts can make it much easier to place smart bets while also being aware of your reward possibilities.

Bet Calculator

Whether you’re placing a straightforward single bet or a more complex 9-fold accumulator, our Bet Calculator can assist you in calculating your possible profits. All you need to know is the odds of your pick, or selections, as well as the total amount of money you desire to wager. The software is extremely user-friendly no matter how sophisticated your wager is. And it covers all potential bets — working as an each-way bet calculator, a horse racing bet calculator, and everything else you can think of, among other things.

Stake

It’s actually rather straightforward. In order to place a wager, you must first choose your wager type from a range of possibilities that include everything from a single to a goliath. Choose between a fractional and a decimal representation of the chances. After that, decide on your stake, which is the amount of money you wish to wager. After that, you’ll see three check boxes. Everyway, Rule 4, and Dead Heat are the names of the first three of these games. We’ll go into more detail about what each of these terms signifies later on.

If you desire to make several picks, enter the odds for each of them separately in the box provided.

The possible returns and profit for your investment will then be revealed.

Bet Types

The fact is, when you purchase At The Races, you are receiving much more than simply a bet calculator. Among the calculators you’ll be receiving are the following: DoubleCalculator One wager with two possible outcomes. In order for you to win, both of your picks must win. TrebleCalculatorA ‘treble’ is a bet in which three selections are made from various markets or events in one wager. You will receive a refund only if all of your selections are successful. Calculator for the ‘Trixie’A ‘Trixie’ is a combination of four bets spread among three selections, consisting of three doubles and one triple.

  1. AccumulatorCalculator An ‘accumulator’ (also known as an Acca) is a single wager that includes four or more choices.
  2. YankeeCalculatorA ‘Yankee’ is a wager that consists of 11 wagers spread among four different options.
  3. In order to receive a return, you must have at least two winning picks.
  4. The wager consists of three singles, three doubles, and one triple.
  5. A ‘Lucky 15’ is a combination of 15 bets spread among four options – six doubles, six singles, four trebles, and one accumulator – and is referred to as a ‘Lucky 15’.
  6. Lucky 31CalculatorA ‘Lucky 31’ is a bet over five selections – ten doubles, ten trebles, five singles, five four-fold accumulators, and one five-fold accumulator – that pays out if all of the selections win.
  7. 63 bets are placed over six options, with 15 doubles, 10 trebles, 6 singles, 6 fivefolds, 15 fourfolds, and 1 sixfold making up the ‘Lucky 63’ total.
  8. Super HeinzCalculator is a calculator that is extremely accurate.
  9. A ‘Super Heinz’ is made up of 120 bets spread across seven selections.

GoliathCalculator Goliath wagers consist of 247 bets spread among eight selections: 70 four-folds, 56 five-folds, 56 treble bets, 28 double wagers, 28 six-folds, eight sevenfold wagers, and one eight-fold wager. In order to receive a return, at least two of your picks must be successful.

Each-Way Rules

An each-way bet in horse racing is effectively two bets combined into one. The first is a wager on whether or not your preferred horse will win. The second is a wager on whether your selected horse will finish first or second. You will be charged £2 in total if you chose a £1 stake as your initial bet. I bet £1 on the horse to win and another £1 on it to finish in the top three. Obviously, winning implies coming in first place. A place signifies finishing first or in one of a number of positions – generally second, third, or fourth – in a race.

The place terms for your wager include the number of positions on which the bookmaker will pay out, as well as the proportion of the odds you will receive if the horse finishes in first or second place in the race.

If your horse wins in each-way betting, you will get a payout for both the ‘win’ and the ‘place’ halves of your wager.

This tool, which is seen above, serves as an each-way bet calculator.

Rule 4 Rules

An example of a Rule 4 deduction would be when your profits from a bet are decreased as a result of another horse being removed from the race after your wager has been accepted. For example, if a horse withdraws from a race at the last minute and is labeled a non-runner, the race is considered a forfeit. The odds displayed for any horse are dependent on the total number of horses competing. In the event that a player withdraws, the odds will alter – even if you have already placed your wager.

  • As a result, your potential winnings will be reduced.
  • These are the deductions that will be made from your winnings, as shown in the table below.
  • Deduction = Deduction of Odds 1/9 or less = 90p2/11 – 2/17 = 85p2/11 – 2/17 = 85p 1/2 + 1/5 Equals 80 cents 3/10 minus 2/7 equals 75p.
  • 8/15 minus 4/9 equals 65p.
  • 5/4 minus 6/4 equals 40p.
  • 15/8 minus 9/4 equals 30p.
  • 10/3 minus 4/1 equals 20p 15p = 9/2 – 11/2 = 16p 6/1 – 9/1 equals 10p.
  • Our Rule 4 bet calculator will assist you in calculating the precise amount of money you will get as a return.
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Dead Heat Rules

When two or more horses cross the finish line at the same time, it is referred to as a dead heat. If one of these horses were yours, how would you feel?

You will not receive the entire amount of money. Your winnings will be lowered based on the number of horses who have dead-heated throughout the course of the race. The amount of money that is paid out is typically determined in the following manner:

  • Divide your total stake by the number of horses who are participating in the dead heat
  • Taking that figure and multiplying it by the odds at which the wager was placed

But you won’t have to make any calculations since our dead heat calculator will take care of everything for you!

Horse Racing Calculator – Betting Type Costs and Payouts

When placing wagers on horses online, you will always use the program number that has been issued to that horse. If you see the numbers a1 and 1A, you will receive two horses for the price of one. This is referred to as “a submission.” Entries occur when two (or more) horses are entered into a race, and the horses may be owned by the same person (or a portion of the same person), or the horses may be trained by the same trainer. When it comes to “entry,” each state has its own set of rules, and many racetracks allow two horses from the same owner and/or trainer to compete under two distinct program numbers.

  • Horses with a “F” next to their numbers are grouped together in the same manner that entries are grouped together, thus 16F, 17F, 18F, 19F, and 20F would all be put together as 16 on the wagering menu.
  • If you bet on a horse to win, the horse must be the first to cross the finish line.
  • The show wager is the most cautious bet, since a horse can finish first, second, or third, providing you three chances to pay your ticket if your horse finishes first, second, or third.
  • The ultimate payment will be calculated based on the total number of wagers received from all simulcast sources.
  • In the pari-mutuel system, the track or simulcast outlet receives a portion of the money wagered, which is referred to as the “takeout.” The takeout is used to cover racecourse expenditures, purse money, state and municipal taxes, and other related fees.
  • Regardless of whether a favorite wins or whether the longest shot on the board prevails, the track or simulcast provider receives the same percentage of your money.

Win Odds and Approximate Payoffs

1-9 $2.20 5-2 $7.00
1-5 $2.40 3-1 $8.00
2-5 $2.80 7-2 $9.00
1-2 $3.00 4-1 $10.00
3-5 $3.20 9-2 $11.00
4-5 $3.60 5-1 $12.00
Even $4.00 6-1 $14.00
6-5 $4.40 10-1 $22.00
7-5 $4.80 12-1 $26.00
3-2 $5.00 15-1 $32.00
8-5 $5.20 20-1 $42.00
9-5 $5.60 50-1 $102.00
2-1 $6.00 60-1 $122.00
99-1 over $200*

* Although most track toteboards will indicate a maximum of 99-1 odds, it may be presumed that the odds are larger than 100-1 in most cases. Payouts are calculated as the sum of your earnings plus the return of the $2 you initially staked. A 5-2 winner indicates that for every $2 risked, the bettor will get a $5 profit. The payment is $7, which consists of your profit ($5) plus the cost of your gamble ($2), for a total of $7.

Figuring the Cost of Your Online Wager

To place your bet on a Daily Double, you must pick the winner of two consecutive horse races.

$2 Daily Double Costs:

Basic Daily Double: 11 $2.00 (one horse in each of the two races)
$2 Daily Double Part Wheel: 1,2,4 with 1,5,7 $18.00 (3 horses in each race = nine combinations)

The cost is calculated as follows: multiply the number of horses in the first leg by the number of horses in the second leg, multiplied by the amount of money you bet on your Daily Double.

$2 Daily Double Wheel and Part Wheel Costs:

$2 Daily Double Wheel: 1 with ALL (ten horses in second race) $20.00 (ten possible combinations)

Exacta (also known as Perfecta) Calculator

When you place an exacta bet, also known as a perfecta bet at some horse racing facilities, you are required to choose the first two finishers in exact or perfect order. When you play an exacta part wheel, you enhance your chances of winning while simultaneously raising your costs. If the horse you have at the top of the betting board is a longshot, or if you like the favorite to win but have a couple of longshots who could finish second, you should play the wheel or part of the wheel.

$2 Exacta Costs:

You should use an Exacta Part Wheel if you have a favorite horse that you want to win but numerous other horses that you want to finish second.

Exacta Wheel 1 with all (ten horses in race) $18.00 (nine combinations)
Exacta Part Wheel 2 with 3,4,5,6 $8.00 (four combinations)
Exacta Part Wheel 2,3,4 with 2,3,4,5,6 $24.00 (12 combinations)

The cost of an exacta may be calculated as follows: multiply the number of horses used on top of the exacta or in the win position by the number of horses used in the second position (less one if the same number is used on top in the exacta). Alternatively, you may place a $1 exacta wager, which pays out half of the $2 exacta payout and, as a result, reduces your investment by half. It should be noted that certain races accept a $1 exacta as a starting wager amount. Do you observe a horse who appears to be suffering from “seconditis”?

Exacta Part Wheel 3,4,5,6 with 2 $8.00 (four combinations)
Exacta Part Wheel 2,3,4,5,6 with 2,3,4 $24.00 (12 combinations)

$2 Exacta Box Costs:

Your picks can finish first or second in any order if you use the Exacta Box, which implies they can finish in any order. When employing three or more horses in your Exacta Box, any two of your horses must finish first and second in order for the box to be considered successful. Exacta Boxes are $2 each.

Exacta Box 1,2 $4 (two combinations)
Exacta Box 1,2,3 $12 (six combinations)

To calculate the cost, use the following formula: Multiply the number of horses used by the number of horses used less one to get the total number of horses utilized. Other exacta pairings are as follows:

Exacta Box 1,2,3,4 $24 (12 combinations)
Exacta Box 1,2,3,4,5 $40 (20 combinations)
Exacta Box 1,2,3,4,5,6 $60 (30 combinations)
Exacta Box 1,2,3,4,5,6,7 $84 (42 combinations)

Quinella Calculator

In a Quinella, you choose two horses who can finish in whatever order they want. It is essentially the same as an Exacta Box in terms of functionality. A $2 Quinella will cost the same as a $1 Exacta Box in terms of overall cost, and it should theoretically pay out around the same. Expert handicappers will examine the likely payoffs for the Exacta and Quinella to determine whether or not there is a distinct advantage to betting in either the Exacta or Quinella pool. If a favorite does not win, an Exacta with the same total cost as the Quinella might pay significantly more than the Quinella.

To calculate the cost of a Quinella, follow the same procedure as for calculating the cost of an Exacta Box, but instead divide the amount by half.

Trifecta Calculator

In a Trifecta wager, you are choosing the first three horses to cross the finish line in the same order they finished. You are picking one horse to finish first, and any two of the other horses you have picked must finish second and third in order for you to win a Trifecta Key.

$1 Trifecta Key Costs:

1 with 2,3,4 (2,3,4 also in third position) $6 (6 possible combinations)
1 with 2,3,4,5 (2,3,4,5 also in third position) $12 (12 possible combinations)
1 with 2,3,4,5,6 (2,3,4,5,6 also in third position) $20 (20 possible combinations)
1 with 2,3,4,5,6,7 (2,3,4,5,6,7 also in third position) $30 (30 possible combinations)
1 with 2,3,4,5,6,7,8 (2,3,4,5,6,7,8 also in third position) $42 (42 possible combinations)

To calculate the cost of a Trifecta Key, multiply 1 times the number of horses you used times the number of horses you used minus one to get the total cost of the Trifecta.

For example, a $1 Trifecta Key 1 with the numbers 2, 3, and 5 would have a total of 12 unique combinations (1 x 4 x 3).

Trifecta Part Wheel Costs:

Depending on the configuration of the Trifecta Part Wheel, you may have one or more horses in the top position, one or more horses at second place, and one or more horses at third place in the wheel.

$1 Trifecta Part Wheel 1 with 2,3,4 with 2,3,4,5 $9 (9 possible combinations)
$1 Trifecta Part Wheel 1,4 with 1,2,3,4 with 1,2,3,4,5,6 $24 (24 possible combinations)

Another option is to use your key horses in the second or third place of a Trifecta Part Wheel, such as the following:

$1 Trifecta Part Wheel 1,2,3,4 with 1, 4 with 1,2,3,4,5,6 $24 (24 possible combinations)

A Trifecta Part Wheel costs what is multiplied by the number of horses in the first position times the number of horses in the second position minus 1, times the number of horses in the third position minus 2, times the number of horses in the fourth position minus 2.

Trifecta Box Costs:

Trifecta Boxes require any of the horses you choose to finish first, second, or third in any order in order to win.

$1 Trifecta Box with three horses $6 (6 possible combinations)
$1 Trifecta Box with four horses $24 (24 possible combinations)
$1 Trifecta Box with five horses $60 (60 possible combinations)
$1 Trifecta Box with six horses $120 (120 possible combinations)
$1 Trifecta Box with seven horses $210 (210 possible combinations)

Superfecta Calculator

A Superfecta is a wager in which you choose the top four horses in the order in which they finished.

Superfecta Part Wheel

You can place one or more horses in any of the four locations by pressing the corresponding keys. If you have a favorite horse, you may wish to put that horse at the top of the list.

$1 Superfecta Key:

1 with 2,3,4 (2,3,4 also in third and fourth position) $6 (6 possible combinations)
1 with 2,3,4,5 (2,3,4,5 also in third and fourth position) $24 (24 possible combinations)
1 with 2,3,4,5,6 (2,3,4,5,6 also in third and fourth position) $60 (60 possible combinations)

Superfecta Part Wheel Costs:

Another option is to do a Superfecta Part Wheel, in which you place one or more horses in each of the four spots.

$1 Superfecta Part Wheel 1 with 2,3,4 with 2,3,4,5 with 2,3,4,5,6 $27 (27 possible combinations)

The dime Superfecta wagers allow you to place this wager in increments of $.10, allowing you to win more money. Not every track has the dime superfecta.

Superfecta Box Costs:

$1 Superfecta Box with four horses $24 (24 possible combinations)
$1 Superfecta Box with five horses $120 (120 possible combinations)
$1 Superfecta Box with six horses $360 (360 possible combinations)
$1 Superfecta Box with seven horses $840 (840 possible combinations)

Pick Three Calculator

The Pick Three is a game in which the goal is to correctly predict the winners of three consecutive races. If you want to know how much it will cost you to play the Pick Three, multiply the number of horses in the first leg by the number of horses in the second leg, and then multiply that number by the number of horses in the third leg. For example, a Pick Three Part Wheel 2 with the numbers 4, 6, 9, with the numbers 1, 2, 7, 8, 10 = (1 horse x 3 horses x 5 horses) = 15 potential combinations or $15 based on a $1 Pick Three wager.

Pick Four Calculator

The Pick Four is a game in which the goal is to correctly predict the winners of four consecutive races. To figure out the cost of a Pick Four, use the same method as explained above for the Pick Three, but multiply it by the number of horses in the fourth leg to get the total cost. 2 with 4,6,9 with 1,2,7,8,10 with 3,7,8 = (1 horse x 3 horses x 5 horses x 3 horses) = 45 potential combinations or $45 for a $1 Pick Four, for example.

Pick Six Calculator

Choose the winners of six races in a row to get points. If no one has identified all six winners before the end of the Pick Six, there will be a carryover. If no one has picked the Pick Six, there is a consolation prize for having the greatest number of wins, and a consolation prize for having 5 of 6 winners if the Pick Six is selected. To find out how much the Pick Six will cost, multiply the number of horses entered in each race by six. If the Pick Six at this track is a $1 wager, this will be the total if the wager is $1.

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As an example, two horses in each race would have 64 possible combinations, which would equal $64 in the case of a $1 Pick Six and $128 in the case of a $2 Pick Six.

There would be 729 permutations of three horses in each race, which would equal $729 for a $1 Pick Six and $1,458 for a $2 Pick Six.

If you are able to choose a single or two horses in your Pick Six, you will be able to go farther in other races. Take, for example, the number of possibilities in one eight, two eights, one six, and five fives equals 480 combinations, which is $480 for a $1 Pick Six and $960 for a $2 Pick Six.

Pick All Type of Wagers

The Pick All (a Pick 8 if there are 8 races, a Pick 10 if there are ten races, and so on) is only available at California horseracing grounds, but it is a fantastic gambling option for those who live outside of California. Pick All is a betting strategy in which the goal is to select horses in each race who have a chance to finish first or second in each of the races on the card. Every one of your horses will have a second opportunity in each of the Pick All races as a result of this. To calculate the cost of this wager, multiply the number of horses in each division by the same factor that you used in the Pick Six.

For example, two horses in each race in a Pick All with eight races would be: 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 x 2 You may reduce this to a total stake of $64 by placing two single bets and six races in which two horses are entered in each race.

The Pick All is paid out every day, and there is no carryover for any of the winning combinations.

Returning to the support

What Do Horse Racing Odds Mean?

The meaning of odds in betting guidelines

What Do Horse Racing Odds Mean?

If you see a horse listed at 7-2 odds for the first time, or a mutuel payback amount of $5.00 for the first time, you may be unsure of what it implies if you wish to put a wager on the horse. Understanding how to interpret horse racing odds, on the other hand, is rather straightforward. The return you may anticipate to receive if the horse you bet on is successful is represented by the odds. It shows the amount of money that has been wagered on a horse; the greater the amount of money that has been wagered, the lower the odds.

As a result, odds of 7-2 indicate that for every $2 staked, the punter will receive a profit of $7.

A horse that is at even money (ie 1-1), on the other hand, returns $2 profit for every $2 spent, resulting in a total return of $4.

MUTUEL PAYOFFS: Calculating Original Investment with Odds Payoff

All wagers at TwinSpires.com are made in distinct pools according to the pari-mutuel method, which means that all wagers of a specific type (such as win wagers, show wagers, exacta wagers, etc.) are placed in different pools. When a part of the pool is withdrawn, it is reinvested back into the racing industry, and any remaining monies are distributed to the winners of the wagers. Another method of informing gamblers of the amount of money they will get is through the use of mutuel payoffs lists, which are so named because TwinSpires employs the pari-mutuel betting system.

If you live in the United States, the mutuel payback amount for win, place, and show bets is the payout for a $2 bet, which is the smallest amount you may wager on these bet types at TwinSpires.

As a result, to calculate the final payoff for a horse at 7-4, divide 7 by 4 (1.75), multiply this figure by 2 (3.5), and then add 2 (resulting in a total payout of $5.50).

To calculate the final payoff, multiply $5.50 by 10 ($55) and then divide by 2 ($27.50) for a $10 investment to win on a horse that won at a $5.50 mutuel payout.

EXOTIC WAGERING: Longer OddsBigger Payouts

Exacta: Predict the first two horses in a race and place them in the proper sequence. Trifecta: Predicting the first three horses in a race in the proper order is known as trifecta betting. In order to win a race, you must correctly predict the first four horses to finish in the proper sequence.

Betting strategies for exotic wagering vary. They include:

When placing a box wager, a punter picks a number of horses and covers all of the finishing choices that are made available to him. Example: A box exacta with a $1 wagering unit involving horses 1 and 2 in a race costs $2, which implies the bet is successful if horse 1 wins and horse 2 comes in second, and the bet is successful if horse 2 wins and horse 1 comes in first. For example: Punters can add more than two horses in a box exacta in order to cover a wider range of possibilities. Example: A three-horse box exacta (encompassing all first- and second-place alternatives involving three selected horses) costs $6 when wagered with a $1 betting unit; a four-horse box exacta costs $12; and so on.

  • It costs $12 to box four horses in order to accommodate all potential combinations, and so on.
  • It costs $12 each horse, and $36 per horse for a total of six horses.
  • For example, in a six-horse field, a punter can choose one horse to finish first and cover any of the other horses who finish second in the exacta wheel.
  • A key wager is one in which a punter picks one or more horses to serve as the banker, and then a number of additional horses to fill in the remaining necessary positions.
  • In addition, the graph depicts the expenditures associated with a superfecta key.

Horse Racing Odds Explained

If you want to explain it the simplest way possible, horse racing betting odds are the mathematical representation of the likelihood that each horse will win a certain race. In addition to providing bettors with an indication of how likely each horse is to win or finish in a specific place, the odds also provide a clear indication of how much money they may anticipate to get if their selection is successful. You may use horse racing odds to determine not only how much money you could win, but also how likely your favored result is based on the industry’s collective wisdom after you learn the many intricacies of horse racing odds.

Before you place a single wager, educate yourself on what the chances truly imply, and keep your odds information up to current at all times.

What Are Horse Racing Odds?

It is possible to earn a profit on your investment if your horse wins a race, with the odds or payout reflecting to some extent how likely it is that your horse will win. Horse racing odds are expressed as a percentage of how likely your horse is to win a race. The payout will be greater the lower the odds of success are seen as being. When it comes to horse racing novices or those who are relatively new to off-track horse racing wagering, knowing odds is definitely the most important thing to learn.

For example, the first time you see odds of 9-2 against a horse or a pari-mutuel payoff of $6.00, you may not be able to fully comprehend what they mean when in reality, it is quite simple.

Traditional Odds in Online Horse Betting

In classic fractions, such as 4-1 or 9-2, the amount of profit that may be made relative to the bet is represented by the number of odds in that fraction. So, if you place a $5 wager on a horse at 4-1 and it wins, you will receive a return of $25 ($5 x 4 Plus the initial stake). When you see any number other than a 1, you may just divide the quantities by that number. For example, if the odds are 9-2, you can divide the amounts by 42, and the same sums apply. This is why ‘odds-on’ horses may still produce a profit; for example, if your horse gets off at 4-5, the odds are 0.8 to 1, which is a loss, but you would still receive your bet back in addition to a profit.

Pari-mutuel Pool Betting Payoffs

As of late, this has been a standard method of settling wagers, both on the track and through off-track betting. The technique, which originated in France, essentially consists of a regular $2 stake being added, so keep that in mind while making your decision on your wager. The conventional win, place, and showbets are the most common wager kinds in the pari-mutuel system, and they are grouped into several pools for convenience. All of the money put into the pool by bettors is divided according to how many bets are placed on each horse in a race, with the exception of a predetermined amount of money that is used to benefit the sport.

A horse with a really high chance at the track may, for whatever reason, not have drawn as many bettors in this market, resulting in the potential reward being more than it would have been in the usual market.

Simply multiply the payment amount by the amount of your stake and divide the result by two. The total of 7.50 times 20 divided by two is a final payoff of $75.00 if the posted payout on your horse was $7.50 and you staked $20 on it.

Exotic Wagers

In most races, horses are chosen to win, place (finish in the first two), or show (finish in the first three), but some horseplayers choose to wager on more exotic wagers combining many horses in the same field in order to obtain higher odds for their stake. This type of bet involves the first two horses in a race; that is, your nominated two horses must finish first and second in the right sequence in order for your bet to win. TheTrifectafollows the same regulations as the Superfecta, but this time it includes three horses, while theSuperfectainvolves selecting four horses, all of whom must finish 1-2-3-4 in the proper order.

Boxing Your Horse Bets

A box wager is when a player selects the horses they wish to bet on, such as two in an Exacta, three in a Trifecta, and so on, but covers all of the finishing places. If you put a $2 Exacta and then decided to box the bet, you are basically placing two bets because there are two possible outcomes, and it would cost you a total of $4 to do so. Afterwards, as long as your horses place first and second in whatever order, you will be victorious. Boxing a Trifecta is picking three horses but making a total of six bets on them since the horses finishing first, second, and third might appear in any of six possible combinations if the bet is successful (123, 132, 213, 231, 312, 321).

You may include even more options in your box bets, but bear in mind that the greater the number of possible combinations, the more the bet will cost over and above your unit investment, so keep an eye on this before pressing the start button.

Calculating Horse Racing Odds

It’s important to remember that the odds of a horse winning, as well as the amount of money that should be paid out if and when it does, are determined by probability. When compared to the pari-mutuel system, in which the payoffs are essentially determined by the players themselves as a group based on how much money is in the pool and how many bets on each horse are laid, traditional odds truly give you a chance to see what kind of percentage chance an online wagering company or the industry as a whole gives to your horse’s performance.

This horse has a less than 17 percent probability of being successful when 100 divided by 6 is applied.

Keep in mind that if the odds on your horse indicate that it has a 17 percent chance of winning, it also has an 83 percent chance of losing, so try to keep your stakes reasonable and the logic on your side at all times.

If you believe your horse has a 25% chance of winning, you might expect it to be at odds of around 3-1.

However, if you can get odds of 7-2 or even 4-1, you may feel that you are getting a more than fair probable return on your wager and that you are giving yourself a reasonable chance of success over the long term.

Play the Odds and Win at TVG

Are you ready to make a change that will benefit you in the long run? Then sign up with TVG and take advantage of a generous deposit bonus. In order to improve your chances of winning, we recommend reading our thoroughbred betting guide first.

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