The chances listed in the race program are the”morning line” chances. These are the chances set on the horses by the monitor’s handicapper when the race program is printed, until the wagering begins. In the track, the chances will be published on the tote board before the race; they switch up until post time, depending on how customers are gambling on each horse in the race.
The horse that clients have wager the maximum money on is known as the”favourite”. This horse will have the smallest odds.
Even the”longshots” have the smallest amount of money wagered on these and therefore have the highest odds. The racetrack handles the money, keeps a percent (known as 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 players who have winning tickets.
Win odds on the tote board are displayed according to $1.00 unless otherwise noted. A”3″ exhibited alongside a horse’s number indicates that the horse is 3-1. An instance of an exception to this general rule is when”5/2″ is shown. The tote board does not show decimals, therefore, 5/2 chances means the odds on a horse are 5 divided by two, or 2.5-1. Win payoffs are calculated based on a $2.00 bet because at most tracks this is the minimum wager. Hint #1: A horse that wins 5-1 will yield $5.00 for every $1.00 wagered. In the event that you had put the minimum bet of $2 on that horse to win, your payoff will be$10 (5 x 1 x $2) + your initial bet of $2 — for a total of $12.
Example #2: A horse which wins 9-2 will return $4.50 for every $1.00 wagered. If you had placed the minimum bet of $2 on this horse to win, your payoff will be$9.00 (4.50 x 1 x $2) + your initial bet of $2 — for a total of $11.
Normally, payoffs are as follows, according to a $2 bet:
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