UNDERSTANDING ODDS
The odds listed in the race program would be the“morning line“ odds. These are the chances placed on the horses from the track’s handicapper when the race program is printed, before the wagering starts. At the monitor, the odds will be posted on the tote board before the race; they switch up until post time, depending on how customers are betting on every horse in the race.
The horse that clients have bet the maximum money on is called the“favourite“. This horse will have the smallest odds.
The“longshots“ have the smallest amount of money wagered on these and thus have the highest odds. The racetrack handles the money, keeps a percent (called a“take-out“) and calculates the horses‘ chances based on the amount of money wagered on each horse. The remaining money is then paid back to the gamers who have winning tickets.
Win odds on the tote board are displayed based on $1.00 unless otherwise noted. A“3″ displayed next to a horse’s number indicates that the horse is 3-1. An instance of an exception to this general rule is when“5/2″ has been shown. The tote board does not show decimals, therefore, 5/2 chances means the odds on a horse are 5 divided by two, or 2.5-1. Win payoffs are calculated based on a $2.00 bet because at most tracks this is actually the minimum wager. Example #1: A horse that wins at 5-1 will return $5.00 for each $1.00 wagered. In the event that you had placed the minimum wager of $2 on this horse to win, your payoff will be: $10 (5 x 1 x $2) + your original wager of $2 — for a total of $12.
Example #2: A horse which wins at 9-2 will yield $4.50 for every $1.00 wagered. In the event that you had put the minimum bet of $2 on this horse to win, your payoff will be$9.00 (4.50 x 1 x $2) + your initial bet of $ two — for a total of $11.
Generally, payoffs are as follows, based on a $2 bet:
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