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Odds tell you what your profit will be should you win the bet. A horse that is 6 to 5 (shown on the tote board as 6/5) will pay 6 dollars for every 5 dollars you bet. A horse that is 6 to 1 (shown on the tote board as 6) will pay 6 dollars for every 1 dollar you bet. Several factors go into determining the odds for a particular horse. First of all is the total amount of money bet for the specific pool (win, place, show, etc.). From that total several deductions are made: state/local taxes, track expenses/profit, purse money for the horsemen. These deductions, commonly called the 'take', are usually 15-20 percent of the total money wagered. And finally, the amount of money bet on the horse. So to use a win pool as an example, let's say that $20,000 is bet on all horses, 17.5 percent is the take, and horse #3 has had $4,100 bet on it. To determine the odds to win on the #3 horse, first subtract the take from the total amount of the pool, then divide the amount bet on the horse to win into the difference of the total amount bet minus the take. Pool - $20,000 Take - 17.5%, 17.5% of $20,000 is $3,500, $20,000 - $3,500 is $16,500 Odds - $16,500 / $4,100 = $4.024 The odds of the #3 horse to win are 4 to 1. You will win 4 dollars for every 1 dollar you bet. You'll also get your original bet amount returned in the case of a win, place, or show bet, i.e., you'll get the 4 dollars you win plus your original dollar for a total of 5 dollars. The actual amount paid for a win bet at 4 to 1 will be anywhere between $5 and $5.45 because the tote board won't reflect every single possible increment in the betting. The next bet level after 4-1 is 9-2, at which point the bet would pay from $5.50 to $5.95. Then comes 5-1, which pays from $6 to $6.95. After 9-2, the tote board stops reflecting half numbers, so then the odds will be 5-1, 6-1, 7-1, and so on.

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Firstly there is no sure way to pick a winner no matter what anyone tells you. Alot of factors contribute to giveing you a much better chanch wich are a horses track histor, a horses distance history, a horses past result, the track rating a horses track rating preference weight jockey, barrier, trainer, looks, and mood befor the race. also time betwwn races and amount of racesbetween a certain time period.

Decimal Odds (Easiest)

Rather than using percentages, bookmakers use odds. Decimal odds are commonly used in Europe and also known as European odds. To convert chances into decimal odds just take the chance as a % and divide into 100. 100/%Chance = odds So if you think something has a 20% chance of winning then 100/20 = 5 Say you wish to place a bet on an event which has decimal odds of 5. If you win, for every one pound you stake you will receive 5 pounds back. Stake £10 and you will receive back £50. You can see that your stake is included in the odds. European odds multiplied by your stake equals the payout. The odds show how many units the bookmaker pays out per unit staked.

Fractional Odds

The more traditional fractional odds are often used in the UK. Using the 20% chance example again, the factional odds are 4/1. Fractional odds are saying that for every 1 time you win then 4 times you will lose. Which is the same as saying you have a 20% chance of winning and an 80% chance of losing. Say you wish to place a bet on an event which has odds of 4/1. If you win, for every pound you stake you will win £4 and you will receive your one pound stake back, giving you a total return of 5. If you place a bet of £10 at 4/1, then you will win £40 and have your £10 stake returned, giving a total return of £50. UK odds multiplied with your stake equals the winnings. The odds show how many units you win in terms of winning per unit staked.

Bet on the horse that you personaly, think will win. Actually, look at the bloodlines (parents, grandparents) the horse's record of races (wins, time, etc) look at its conformation. There is alot to it.

There are also many free and paid services which will provide you with their picks, like this one: bit.ly/1Ex4hRX

The horse with the lower odds: Thanks go to Mr. Charlie Munger. )

The ones with the highest payout, have the lowest odds.

Q: How do you know which odds are the lowest in Horse Racing?

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No, because that is odds-on.

It means a horse that is not likely to win, or that the odds are stacked against him.

A horse at 1:1, or even odds, means that for every $2 dollars you bet you will receive $4.

In horse racing the odds are determined by the bets placed. Betting stops when the race starts. These determine the final odds.

It means that the odds are 4 to 1 against winning. This would translate into a 20% chance of winning.

Sky racing is horse racing and some tips include following the odds of the specific horse, and looking for the best bets. The sky horse history and the owner's track record can also be useful tools for knowing where to bet one's money.

Have a look at the related link for information on horse racing betting

In horse racing in Australia and New Zealand, TAB is an acronym that stands for Totalisator Agency Board. Totalisator refers to the large tote boards that calculate and display the betting odds at racetracks.

ML stands for Morning Line. It mean the "line" or predicted odds for the horses in the race. Actual odds are determined by the amount actually bet on each horse. The track handicapper sets the morning line.

An exacta is a type of bet where you pick the horses who will finish first and second, in that order ("exact").

If you are a better handicapper then everyone else, then yes you can make money but the odds are against you.

If the odds of a horse winning a horse race are 2 to 7 then the odds against that horse winning the race are 7 to 2.