UNDERSTANDING ODDS

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UNDERSTANDING ODDS

The chances listed in the race program would be the»morning » odds. These are the chances set on the horses from the track’s handicapper when the race program is published, before the wagering begins. In the monitor, the odds will be posted on the tote board before the race; they switch up until post time, depending on how clients are betting on every horse in the race.
The horse which customers have wager the maximum money on is known as the»favourite». This horse will have the lowest odds.
Even the»longshots» have the least amount of money wagered on them and therefore have the greatest odds. The racetrack manages the money, keeps a percent (called a»take-out») and calculates the horses’ odds dependent on the amount of money wagered on each horse. The remaining money is then paid back to the gamers that have winning tickets.
Win odds on the tote board are displayed according to $1.00 unless otherwise noticed. A»3″ exhibited alongside a horse’s number indicates that the horse is 3-1. A good instance of an exception to this general rule is when»5/2″ is shown. The tote board does not reveal decimals, therefore, 5/2 chances means the odds on a horse are divided by two, or 2.5-1. Win payoffs are calculated based on a $2.00 wager because at most tracks this is actually the minimum bet. Example #1: A horse that wins at 5-1 will return $5.00 for every $1.00 wagered. In the event that you had placed the minimum bet of $2 on that horse to win, your payoff will be$10 (5 x 1 x $2) + your initial wager of $ two — for a total of $12.
Example #2: A horse which wins 9-2 will return $4.50 for every $1.00 wagered. In the event that you had placed the minimum wager 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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