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п»їHorse racing betting odds payoff calculations.
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Horse Racing Payout Calculator.
Going About the Payout The most important thing about horse racing betting is the payouts, for at the end of the day its not enough to pick the right horse, but also wager on the right horse, meaning that a punter realizes when a horse is short priced or shows a decent price as a favorite and places a wager on that horse in order to collect bigger payouts. Many punters use a horse racing payout calculator so that they can keep good track of their stakes and possible payouts. This use of a horse betting calculator has improved the way punters approach horse racing betting.
Horse Racing Payout Calculator Since nowadays many punters wager on more than horse and more than one race, the need for a calculation process that would concentrate all the wager and output the costs and payout figures has risen dramatically and created the need for a horse racing calculator to that just that and calculate the payout. The horse racing payout calculator comes in various ways depending on the wager type placed on the horse or horses. In the case of straight wagers, the horse racing payout calculator simply takes the odds, presented in decimal or fraction, and uses it together with the stakes laid on the wager to calculate the payout. This horse racing payout calculator usually holds a fraction converter for converting odds. Another type of horse racing payout calculator is the exotic wager horse racing payout calculator. This one is a bit tricky since the exotic payouts such as Trifecta or Superfecta derive from a separate wagering pool so there isn’t a way to know or calculate the payout until the payout is due to happen once the races are over. However, an estimation on the pool sum can be made by the horse racing payout calculator in order to give the punter a slight clue on the payout.
Calculate Onwards There is one approach in horse racing betting that has benefited from the development of today’s horse racing payout calculator and it’s referred to as let it ride. Let it ride means keep rolling the winning money onto other horse wagers in an attempt to strengthen the bankroll. This approach is very difficult to handle if not using a proper horse racing payout calculator. The horse racing payout calculator aids the punter with making decision by simplifying and clarifying all the possible scenarios in the let it ride scheme. The use of the horse racing payout calculator has contributed significantly to the variety of wager placing and different wager approaches by automating the calculation process thus making life a lot easier for the punters.


How to Calculate Horse Racing Betting Odds and Payoffs.
It's surprising at how many people make bets on horse races without the slightest understanding of the tote board. While all of those numbers on the board may seem imposing, the odds and payoffs are actually pretty easy to learn. And by doing so, you will be able to make and calculate better bets.
Reading the Win Odds.
The easiest information on the board is the win odds quoted on each horse. They don't tell you what the horse will pay, but the amount of profit you will get and the amount you have to bet to get it. For example, 6-5 means you will get $6 in profit for every $5 you wager, while 20-1 means you get $20 in profit for every $1 you wager. In the latter example, a bet of $2 means you would get $42 back for a winning wager.
Payoffs use the actual odds and are rounded down to the nearest nickel or dime, depending on the rules at that track. This rounding is called breakage.
Calculating the Win Odds on a Horse.
If you want to calculate the exact win odds on a horse, you will need to use a couple of other figures from the tote board:
Total win pool Amount bet on that horse.
The total pool is all the money bet on all the horses to win, but it is not the amount that will actually be paid out to the holders of winning tickets. Before the track pays off the winners, they deduct the "take," which is generally between 14 and 20 percent and is different in every state. This money goes to pay state and local taxes, payment for the horsemen, expenses at the track, and the track's profit.
To calculate the exact odds on your horse, just subtract the take from the total pool, then subtract the amount bet on your horse to give you the amount of cash to be paid out.
Divide that figure by the amount bet on your horse to get the exact odds. This figure will always be rounded off to the nearest dime (usually) or nickel, as mentioned previously, before the payoffs are calculated. Here is a simple example of win odds calculation:
Total pool: $900 Amount bet on horse No. 1: $300 Take amount: 15 percent $900 minus 15 percent equals $765 $765 minus $300 equals $465 $465 divided by $300 equals $1.55.
Round this amount off to $1.50 for breakage and you get odds of 1.5-1 or 3-2, as it would normally be written, which yields a payoff of $5 on a wager of $2.
Payoffs for $2 Win Bets.
Since most tracks have a $2 minimum bet, below is a handy chart to look up the payoff for a $2 bet at various odds. Remember, your actual payoff may differ from this chart, as the odds on the tote board are rounded off, so 2-1 odds on the tote board may actually be 1.9-1 or 2.2-1.


Horse Racing Betting Guide: How to Calculate Betting Odds and Payoffs.
Contrary to popular belief, most people who bet on horse racing have no idea what's going on or what the best way to make money is. They generally stick to a favorite number, or color of the saddle cloth, or horse color for that matter, and hope to get lucky. If it's your lucky day, sure, you may win a few bucks, but it won't break the bank.
While I understand that most people view horse racing - a sport that has been around for centuries - as leisure activity and a day to get out in the sun for good entertainment with good company, that shouldn't mean it's okay to have little to no idea of how to actually bet the races.
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Horse racing has its own terminology and odds system that can really throw the casual horse players for a loop. The average person may not know what a furlong is, or the where the quarter pole is or what a closer is. Hell, they may not even know how much they stand to get back if their bet does in fact win. Well, I'm here to help.
The purpose of this article is to educate you on how the odds works and the potential payouts of standard bets. If you want to familiarize yourself with the horse racing terminology, you can click here .
Understanding Horse Racing Odds.
The "tote" board is the massive jumbotron screen that is usually located in the infield of the racetrack that displays several important notes, such as post time, minutes to post, changes, scratches, pool totals, and, most importantly, the odds.
The most important part of understanding the odds is understanding that they ca decrease or increase within a matter of minutes and that you won't exactly know for sure how much you are going to win should your bet be graded as a winner. However, there are ways to educate yourself and prepare yourself for the possibly payout in order to determine if your bet is worth making or not.
For starters, you must understand that the win/place/show pools are subject to a 14-20 percent take out from the track in order to pay taxes, expenses, horsemen and the track's profit. To calculate the exact odds of your horse, you must simply subtract the take from the total pool, then subtract the amount bet on your horse, which will give you the amount that is to be paid out. Then you divide that number by the amount of money bet on your horse and boom…you have odds for your horse.
For example, if the total pool is $900 and the take out is 15 percent. The math would look like this:
Total Pool: $900 Amount bet on horse #3: $300.
This means that your horses odds are 1.55/1, which is the same as saying 3/2 - a much more common way of wording it.
Horse Racing Payout Chart.
So now that we know how to calculate our horse's odds manually, instead of looking at the giant tote board that gives us update odds every minute, we must now figure out how much we stand to win if we bet two dollars on a horse to win at various odds.




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