Horse races odds are the return you can expect on your investment if your wager is successful, the odds or the payout reflecting some degree the percentage chance your horse has of winning the race. The lower the chances of success, the bigger the payoff will be. For the best horse racing bet , you can trust us by visiting Tonybet.
Knowing the odds for horse races is probably the most important thing you need to know if you are a beginner or fairly new to off-track horse racing wagering.
Seeing an odds list or a potential bet payout may seem confusing. At first, you might not know that the odds of horse racing reflect a particular percentage chance your horse has of winning, so if you bet you can expect a return on your investment. The process isn’t complicated, however.
Betting on horses online: traditional odds
The fractional odds, such as 4-1 and 9-2, represent the profit that can be gained versus the stake. You would receive $25 ($5 x 4 + original stake) if you placed a $5 bet on a horse at 4-1 and it won.
The odds of anything other than a 1 are divided by 1, so odds of 9-2 would mean 412 to 1 if you divide the amounts.
In this sense, horses with odds-on still give you a profit. For instance, if your horse goes off at 4-5, then you would lose 0.8 to 1 return your stake. For example, if you win $50 at 4-5, you’ll get $90 in total, which translates into a profit of $40.
Parimutuel Betting Payouts
Bets can now be settled using this method both at the track and via off-track betting. Remember that when deciding on your stake, your bet is essentially a standard $2 stake, as it originated in France.
Parimutuel betting consists of the classic win, place, and show wagers that are grouped into different pools. The money put into the pool by bettors is divided according to how many bets are being made on each horse. There is a set amount that goes to the pool, but the rest goes to the sport.
As noted previously, a popular horse in the betting market is likely to produce a lower payout, but exceptions do occur. There may be times when, for the same reason, a horse with really strong odds will not attract that many bettors to the traditional market, and the potential payoff will be greater than what is shown there.
In light of the payout rates including a $2 stake, it might be worthwhile to check how much you will receive quickly. Multiplying a stake by 2 and dividing it by 2 is how to divide a payoff amount by 2.
Accordingly, if the listed payout was $7.50 and you wagered $20, the sum would equal 7.50 x 20 / 2. That would equal $75.00.
How to calculate horse racing odds
When calculating how much money should be paid out if a horse wins, an understanding of probability is essential.
With the parimutuel system, the payouts are essentially determined by how much money is in the pool and how many bets are placed on individual horses. But with traditional odds, you can see what kind of chances the online company or the industry itself gives your horse.
The odds of 5-1 may not seem like much, but once you add this to a standard $1 bet and divide 100 by it, you can see how far off it really is. This horse’s odds of success are less than 17% when 100 divided by 6.
Generally speaking, a 17% probability of winning isn’t bad in horse racing, considering that there are maybe 20 runners, and if everyone had the same chances, they would all have only 5% success. You should keep in mind that if the odds on your horse are 17%, it, therefore, has an 83% chance of losing so remain financially savvy and keep the math in your favor.
It is important to handicap your horses and give them realistic percentage chances of winning in that case if you are to maximize your profits. You might expect your horse to be at odds around 3-1 if you think it has a 25% chance of winning, but if you can get 7-2 or even 4-1, then it appears you have increased your chances of earning a profit over time.
