If you find yourself at the racetrack looking at the odds of each horse and dont understand anything and youre almost at the tellers window to bet on one dont fret. We will tell you here how to read horseracing odds.
First, do you understand the tote board or even know where it is? Its the big old sign type of thing probably across from where youre sitting with all sorts of numbers and horse names on it. You really cant miss it. On the tote board, you will see the odds for each horse and dont confuse odds with how much youll win if your horse wins. For instance if the horses odds are 7 to 5, that means you will get $7.00 bucks for every five dollars you bet 20 1 will mean $20 bucks for every dollar you bet you get the idea. Keep in mind that almost all horse tracks will have a two dollar minimum bet. Numbers on the tote board are usually rounded off, so pay attention to that too.
To figure the exact odds on your horse, you need to look further at that tote board, basically total win pool and amount bet on the horse. The total win pool is what everyone sitting at the track has bet on your horse (yes, more than one person can bet on a horse). Dont forget this isnt the amount you win if the horse wins it is just all the money riding on that horse. Next, there is a thing called the take. Yep, thats what is taken away from that horses winnings and shoved not into your and your fellow betters pockets. Different tracks have different takes but usually range between a healthy 14 to 20%. We think it should be more like 5%, but we dont own the tracks and someone has to pay taxes, and track upkeep basically you through your betting, but we move on.
Finding your exact odds is easy. You can do this in your head if youre good at head math. Or, you can bring a trusty calculator with you like we do. First, subtract the tracks take from the total pool and then subtract the amount bet on your horse and youll have the exact amount of cash the horse will payout. But wait, were not done yet. After that, you have to divide! Divide that last payout figure by the amount you bet on your horse and you will have the exact odds on your horse! Whew, can you believe some people do this in their head? If you cant really understand this all by reading it, heres a chart!
Total pool amount: $900.00
Total bet on horse: $300.00
Take amount: 15%
Here is the math now:
$900 minus 15% = $765.00
$765 minus $300.00 = $465.00
$465 divided by $300.00 gives you a whopping $1.55!
Simon M Skinner assists withruns internet marketing for BetAmerica - the top online US horse racing betting website.
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