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Unlike with win bets, there are no exact horse racing odds for exotic bets because there are too many variables. Yet at Amwager, we post probable payouts for exacta and daily double wagers. Also for exotic wagers, the payouts are calculated differently. Your payout is calculated by subtracting the amount of winning dollars from the total pool, then dividing the remaining pool by the amount of cash bet on the winner, and finally adding back in the winning bet amount. For easy math, we used round numbers.
But in the real world, this does not always happen. Payouts use the actual odds and are rounded down to the nearest nickel or dime, depending on the rules of the racetrack. This rounding is called breakage.
This is why every racetrack has television simulcast commentator who handicaps between the races as well as publishing handicapping tip sheets to help you place your bets. At AmWager, we have our own horse racing handicapper that gives expert picks on upcoming races. 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? Best Odds in Horse Racing Now that you know how to read and calculate horse racing odds, you are ready to take the bet!
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 Glossary: Horse Racing Odds Jargon 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: Fixed-Odds : A bet where you get the odds advertised by the better operator at the time you place your bet. Please note that AmWager does not used fixed-odds. And by doing so, you will be able to make and calculate better bets. 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.
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. 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:. 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.
Also, a sign flashed by officials on tote board on such occasions. JOG- Slow, easy gait. Also a horse or pony who accompanies a starter to post. Also a jockey having a mount. Also to strengthen a horse's legs through exercise. Also distance between horses in a race.
LOCK- Slang for a "sure thing" winner. LUG in or out - Action of a tiring horse, bearing in or out. Also applied to non-winning rider. MARE- Female horse 5 years old or older. Also, female of any age who has been bred. MASH- Moist mixture, hot or cold, of grain and other feed given to horses. MINUS POOL- A mutuel pool caused when one horse is so heavily played that, after deductions of state tax and commission, there is not enough money left to pay the legally prescribed minimum on each winning bet.
The racing association usually makes up the difference. Also a guard placed over a horse's mouth to prevent him from biting or eating. NECK- Unit of measurement, about the length of a horse's neck; a quarter of a length. Illegal in most jurisdictions. NOD- Lowering of head. Winning in that manner. NOSE- Smallest advantage a horse can win by. In England called a short head. If lodged by official, it is called an inquiry.
In England it is simply called "on," thus a horse " on" is actually at odds of Also racing official. PILL- Small numbered ball drawn to decide post positions. Also a farrier. Racing plates. Running in a position with horses in front and alongside. POLE- Markers at measured distances around the track, marking the distance from the finish. The quarter pole, for instance, is a quarter of a mile from the finish, not from the start. POST- Starting point or position in starting gate. POOL- Mutuel pool.
Total sum bet on a race or even, such as the win pool, daily double pool, exacta pool. PROP- Refusing to break with field from gate. Standing flat-footed. Also, when a horse suddenly stops running a full speed by extending his forefeet as "brakes. In jumping races, balking at the jump. Also, held off the pace. ROAN- Mixture of white and red or brown hairs. ROMP- Running or winning with utmost ease. In steeplechasing, more particularly to teach a horse to jump.
SET- A group of horses working together. Also, put to a drive, or asked to run by a jockey. A row of barns. SHOW- Third position at the finish. Unable to improve position. SIRE- Father of a horse. Wet on surface with firm bottom. SLOW- Footing that is not fast, between good and heavy.
SNUG- Mild restraining hold by rider. The fees can be for nominating, maintaining eligibility, entering and starting, to which the track adds more money to make up the total purse. Some stakes races are by invitation and require no payment or fee. STAR- Small patch of white hair on a horse's forehead. Also a credit a horse receives from being forced out of an overcrowded race, giving him priority in future races. Also distance covered after each foot has touched the ground once.
White hairs running part-way down the face. STUD- Male horse used for breeding. Also breeding farm. Offender denied privileges of racetrack for specified period of time. If permanently suspended: Ruled Off. Also applied to stable gear. More properly horses jumping over timber fences. Also figures out and displays payoff figures. TOUT- One who gives tips on racehorses, usually with ecpcetation of some personal reward in return; to give tips.
TRIP- A horse's race. TWITCH- A device usually consisting of a stick with a loop of rope at one end, which is placed around a horse's nose and upper lip and twisted to curb fractiousness. Also a stallion who has not been bred. A formal gesture required by rules of racing. WHIP- Instrument, usually of leather, with which rider strikes horse to increase his speed. Also called bat and gad. Seen principally in 2-year-olds and 3-year-olds. WORK- To exercise a horse.
A workout. Women's total instinct for gambling is satisfied by marriage Gloria Steinem. Gambling , Instinct , Satisfied. Jeffrey Bernard. Money , Gambling , Luck. June 22, Damon Runyon. Funny , Happiness , Success. More Than Somewhat This quotation is associated with Runyon, but the Chicago Tribune, 10 May , printed the following: "'The race is not always to the swift, nor the battle to the strong, but that is the way to bet,' as Hugh Keough used to say.
Betty Grable. Horse , Night , Men. Sports betting is all about money management, so the most money won on one event is not the most important thing Bruce Dern. Sports , Important , Events. George Steinbrenner. Baseball , Horse , Odds. Lee Trevino. Golf , Caddies , Care. Michael Ondaatje. Country , Men , Gambling. George Soros. Investing , Unexpected , Financial. Michael Jordan. Samuel Butler. Atheism , Kind , Should. Samuel Butler, Hans-Peter Breuer Maureen O'Hara.
Maureen O'Hara, John Nicoletti Hedy Lamarr. Trying , Actresses , Lost. Hedy Lamarr Blanche Lincoln. People , Persons. Kelly Jones. Ron Wyden. Ideas , Atrocities , Ridiculous. July 30, Elisabeth Rohm. Girl , Thinking , Giving. Shirley Booth. Directors , Mines. Meyer Lansky. Sports , Honesty , Agency. Horse , Gambling , Remember. Send Report. Mistake: Choose Email for contact not necessary :. Good Luck. Horse Racing.
Sports Betting. Betting quotes by: James Surowiecki Journalist. Pete Rose Baseball player. Suzanne Collins Writer. Barack Obama 44th U. Mark Twain Author. Oscar Wilde Writer. Mahatma Gandhi Civil rights leader. Friedrich Nietzsche Philologist.
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