Understanding how horse racing betting odds work is the first step in getting started as a bettor. This page will dive into the topic in great detail, beginning with a simple guide to interpreting horse racing odds and continuing with more information bettors need to wager intelligently.
Familiarity with fractions helps, but you do not need to be a mathematician to understand how the odds on horse races function. Eventually, with some practice, it becomes second nature to look at a list of wagers and understand what it all means. Horse racing betting odds are essentially fractions. With horse racing odds, the first number the numerator shows how many units you stand to win, and the second number the denominator shows how many units you must risk to win that much.
If the first number is larger than the second number, your net profit will be larger than the amount wagered. This occurs when you bet on heavy public favorites — you stand to win less because everyone is betting on the same horse. If the odds-on favorite wins, the betting pool will be split among many winning tickets, netting everyone a smaller portion of the pool. Notes: Many horse racing betting sites and tracks display the odds as fractions. Also, Racebooks often drop the 1 in odds that represent whole numbers.
For example, your horse racing betting site may display 10 or 20 next to horse names to represent and , respectively. Parimutuel horse racing betting odds fluctuate based on public sentiment. Similarly, horses with few backers pay more because the total wagering pool will be split among fewer winning tickets. The key to successful horse racing betting is learning how to spot the gaps between public sentiment and reality. To determine the potential winnings of any bet, multiply your intended wager by the fraction represented by the odds.
The number you get represents the net profit you will see if your bet is a winner. 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? When horse racing odds are shown in the form of , , etc, it expresses the amount of profit to the amount invested.
Betting at TwinSpires. A percentage of the pool is withdrawn to be reinvested into racing, and the remaining funds are paid out on the winning wagers. The mutuel payoffs lists — so named because TwinSpires uses the pari-mutuel betting system — are another way of indicating to bettors how much money they will receive.
Unlike the odds format ie , , , as mentioned above , the listed mutuel payoff includes the original investment and not just the amount of profit. Therefore, for a horse at , divide 7 by 4 1.
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