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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:. Remember, your actual payoff may differ from this chart, as the odds on the tote board are rounded off, so odds on the tote board may actually be 1.
Cindy Pierson Dulay. Cindy Pierson Dulay is a horse-racing expert, journalist and award-winning photographer. The Vikings would be 2. Fractional Odds are used primarily in the UK and Ireland.
Few bettors use fractional odds for betting sports other than horse racing , because the conversions to understand return are difficult. To calculate winnings on fractional odds, multiply your bet by the top number numerator , then divide the result by the bottom denominator.
Odds correlate to the probability of a team winning, which is the implied probability. A favorite has about a To calculate implied probability, use the following formulas:.
About Projects Reviews Blog Contact. Payouts listed above represent the minimum payout returned. The actual payout might be higher depending on how the money is distributed in the win pool.
Share this post. Hi Lucky, Since the win bet payout table is just for win bets, estimating the place payout is a bit tougher. I hope that helps answer your question.
Sincerely, Kyle Kazak. Kyle Kazak. Hi Gilbert, Thanks for the comment.
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.
And the number represents the total return , not just the profit like American and fractional odds. The Packers would be 1.
The Vikings would be 2. Fractional Odds are used primarily in the UK and Ireland. Few bettors use fractional odds for betting sports other than horse racing , because the conversions to understand return are difficult.
To calculate winnings on fractional odds, multiply your bet by the top number numerator , then divide the result by the bottom denominator.
Odds correlate to the probability of a team winning, which is the implied probability. Unfortunately, the win bet payout table you saw was specifically for horse racing.
Regarding the Super Bowl odds, which you can find here operate a little differently. It explains football wagering a lot better than I could.
A word to the wise, a win bet in horse racing has the upside of paying a lot more than a close NFL game does.
Hello Kyle, I am still not clear on the odds betting. The odds for the Super Bowl is Thank you for your time.
Your email address will not be published. Toggle Navigation Kyle Kazak.