Learn the basics and have a better shot at winning at the racetrack.

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Odds are based on the amount of money wagered on a race. All odds are calculated based on the money bet on horses to win. A horse’s individual odds result from taking the amount of win money bet on the individual horse, divided by the total amount bet on the race, minus the pari-mutuel takeout. The pari-mutuel takeout in win pools ranges from 14-20 percent – depending on the track – and revenues from the takeout are used to fund horsemen’s purses and track administrative costs.”.

A longshot, or a horse with high odds, will pay more money if it succeeds in finishing in the top three.

Wagers in the other pools, such as place and show pools or exotics, do not affect the odds shown on the toteboard.

In addition, the morning-line odds shown in the program do not affect the odds shown on the toteboard. These are only a prediction of how the track handicapper believes the public will wager.

Learn more about odds and making smart wagers at the racetrack with AQHA’s “Winner’s Guide to Wagering at the Racetrack DVD.”

Odds in Action

Follow this example for a better understanding of horse racing odds.

Example: At a racetrack, $2,000 is bet on the first race of the day, which has 10 horses. The 2 horse (the horse breaking from the 2 post and No. 2 in the program) has $100 bet on him. That makes him a 20-1 shot.

In the same race, the 6 horse (the horse breaking from the 6 post and No. 6 in the program) has $500 bet on him. He’s a 4-1 shot.

In the same race, the 4 horse has $1,000 bet on him. He’s called an even-money favorite because half of the total betting money is going toward him to win.

AQHA’s “Winner’s Guide to Wagering at the Racetrack“ DVD gives you everything you need to know for a fun day at the races. Order today! AQHA members get a discount.

Overwhelming Favorite

In a race with one clear, overwhelming favorite, odds on that horse will frequently be less than even money, meaning you have to wager (for example) $3 to win $1. In cases like this, a wise bettor might play a more exotic wager where he/she tries to predict the top-two or three finishers, because simply betting on the favorite won’t pay much in winnings.

Favorites statistically win 34 to 37 percent of the time.