Odds and payouts are determined by the amount wagered on each horse, minus the track’s percentage takeout (more on takeout later).Īll of the dollars wagered on a particular race are placed in specific pools. From a betting standpoint, the race track simply acts as broker for your transaction. uses pari-mutuel wagering and not fixed odds, which means bettors are competing against each other, not against the house. The odds provide players with potential payout info and helps them make more informed decisions.įor novices of horse racing betting looking at the tote (odds) board for the first time, win odds such as 2-1, 7-2 or 6-5 may look intimidating at first, but the math is quite simple and can be learned in minutes. Conversely, a horse that you think may barely have an edge over the field but is sent off at 1-1 (even money) offers little to no betting value. Horse racing betting odds not only provide a picture of how bettors view a particular horse race but can be the basis for effective betting strategies as well.įor example, if a horse you believe is the most likely to win the Kentucky Derby is sent off an overlay at 6-1 odds, that’s excellent betting value.
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