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Horse racing odds
Horse Racing Master > Horse racing > Horse racing odds Do you know how to interpret the horse racing odds? You would be very surprised to find out that many people actually don’t. When you look at the board, you will instantly notice the most basic piece of information, which is the winning odds for each horse. So, to make one things clear, you need to know that those number don’t represent the mount of money the horse will pay you, but rather the amount of profit you get for a specific bet. So if, for instance, you see something like 8-5, this means that you get $8 profit for every $5 that you staked. However, the actual amount you get for a winning bet may actually differ, because numbers like 3-1 are rounded off. In reality, 3-1 could actually be 2.9-1, or 3.1-1, or 3.2-1, etc. The payoffs are based on the actual odds, not the rounded one, and take into consideration the smallest nickle. You may also hear about the process under the name of breakage, which is exactly this rounding off, and which may be a serious issue for a beginner. If you are adamant about exactly calculating the odds on a horse, you will be forced to use other methods. You will have to take notice of two important figures on the board, figures which represent the total pool for the track and the amount of money bet on the specific horse which is in your attention. The total pool represents the total amount which is bet on all the horses to win. Attention, this doesn’t represent the amount which will be paid to the holders of winning tickets. This is because the track also has its own expenses, and will take an amount of 14%-20% of the total pool. This amount is used for track maintenance, paying taxes, paying the horsemen, and for own profit. If you want to continue with your horse betting you will have to acknowledge that this is necessary. So, if you want to calculate the exact horse racing odds, you will have to make some calculations. First of all, subtract the take from the total pool amount, after which you need to subtract the amount of money bet on your particular horse. This will give you the amount of money which needs to be paid out. Finally, all that is left to do is to divide the figure that you have obtained by the amount of money bet on your horse. This will give you the exact horse odds. The final payout is very diligently rounded to give you the final profit of your horse racing odds.
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