An example of an exception to this general rule is when “5/2” is shown. A “3” displayed next to a horse’s number indicates that the horse is 3-1. Win odds on the tote board are displayed based on $1.00 unless otherwise noted. Understanding the odds and payoffs can be intimidating, but it’s actually quite simple.
To the wagering public, however, it means everything!
To the racetrack, the result of a given race is usually insignificant. The remaining money is then paid back to the players who hold winning tickets. The “ longshots” have the least amount of money wagered on them and therefore have the highest odds.ĭelaware ParkThe racetrack handles the money, keeps a percentage, and calculates the horses’ odds based on the public’s preferences. The “ favorite“, or the horse with the most money wagered on him to win by the public, will have the lowest odds.
The odds on each horse to win are determined by what proportion of the total money wagered is placed on that horse. Basically this means that the house (the racetrack) does not care who wins a given race. Horse racing payoffs are calculated on a Pari-mutuel basis. A wager on a horse race is very different than many other forms of gambling.
