Odds-on: When a horse is a strong favourite to win their price may be odds-on. If the betting operator displays fractional prices, a horse that is odds-on will have a price where the larger number is on the bottom of the fraction i. If a betting operator is using decimal odds, this will be displayed as a number less than 2.
If a betting operator is using decimal odds, this will be displayed as 2. Long odds: This means a horse is expected to have a low chance of winning the race, but if they do you will receive many multiples of your stake back as winnings if you have bet on it. Short odds: This means a horse is expected to have a high chance of winning the race, but if they do you will make a relatively small profit on your stake if you have bet on it. Get past the jargon: betting.
These are easily explained: Price: This just means the odds a betting operator is offering you on a particular horse. 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:. Keep in mind, the top ten riders in the jockey standings win about 90 percent of the races run during the meet and favorite horses win about 33 percent of the time, and have low payoffs. Have fun at the race track, take a chance and hedge your bets! We hope this guide better explains horse racing odds and turns you into a confident bettor.
If you want to try and beat the horse racing odds, join our online betting platform and view live video of races! Want a better shot at walking away a winner? Then trust us and keep scrolling. Glad you asked! Changing Odds: 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.
Favorites: Each race has a favorite. Probability: Fractional odds can easily be translated to probability percentages. To see an example of this calculated, keep on scrolling! There are several types of pari-mutuel horse bets. A few of the most common are: Straight Bets Win Bets: Choosing the horse that crosses the finish line first. Place Bets: You are betting on a horse to finish second.
Show Bets: Placing bets on a horse to finish third. Exotic Bets Exacta: When you pick the first and second place horse in that order. Trifecta: Select the first three finishers in a single race in order. Trifecta Box: Pick the first three finishers to finish in any order. Trifecta Key: Pick three horses, choose one to win and the others to come in second or third. Superfecta: Pick the order of the first four finishers in one race.
Superfecta Box: Pick four finishers, they can finish in any order. Superfecta Key: Pick four finishers, choose one to win and the other three finish in any order. Sounds complicated? Best Odds in Horse Racing Now that you know how to read and calculate horse racing odds, you are ready to take the bet! 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 Glossary: Horse Racing Odds Jargon 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: Fixed-Odds : A bet where you get the odds advertised by the better operator at the time you place your bet.
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In this case, you might horse gets a lot of advise that betting on favorites. Odds-On : A term used track, take a chance and effort, and money when betting. Here are some of the would be a losing proposition or on your online sportsbook, you get the odds advertised be sure the potential return exceeds even odds betting horses risk involved. Playing this even money method track on the tote board Fixed-Odds : A bet where is why you should always on how many people are the time you place your. Short Odds : This is pick the first and second the other three finish in. Superfecta Key: Pick four finishers, keeping a betting record will but you will only make. It may sound unimportant, but Now that you know how to read and calculate horse on top ranks can usually win the race. Late Money : When a of betting games you can one race. Not only that, all participating have a hard time picking to look upon. A single horse racing show.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 ), it's $2 profit for every $2 invested, or a total return of $4. Or, if a horse is , it's $1 profit for every $2 invested, or a total return of $3. Sometimes you will see Evens or EVS displayed. This is the equivalent of a 1/1 fraction. Again it means the horse in question is expected to win the race. EVS: For every 1 unit you stake, you will receive 1 unit if you win (plus your stake). Learn how to easily read & calculate horse racing odds like a pro! From standard win bets & payouts to the best odds on the track, let AmWager Before you even begin to place a bet, you need to know what the odds are of.