Types of Horse Racing Wagers (and Your Chances of Winning)Bet TypeYour Chances of WinningSuggested Plays (Based upon a $100 Bankroll)ShowVery good$6 per horsePlaceGood$5 per horseWinAverage$4 per horseQuinellaAverage$2 quinella box using three horses costs $6
Betting on Horse Racing For DummiesOdds$2 Payoff2/5$2.801/2$3.003/5$3.204/5$3.60
To calculate the exact odds on your horse, just subtract the take from the total pool, then subtract the amount bet on your horse to give you the amount of cash to be paid out.
“What does 7 to 5 odds mean?” Here we will tell you what 7 to 5 odds mean, what 7 to 5 probability means, and show you what a 7 to 5 odds payout would be. 7 to 5 odds. This means that out of 12 possible outcomes, odds are that there will be 7 of one kind of outcome and 5 of another kind of outcome.
A seasoned off-track bettor will look at much more than this but will use it as their starting point.
If you bet $2 to win on each of those horses in every race you will have bet a total of $10. … You will need to win 2 out of 5 races to show a profit. By being right 40% of the time you can make money betting on 2:1 shots at the racetrack. Of course things don’t always line up that simply in the real world.
Standard Win Bets and PayoutsOdds$ Payout$2 Payout1/1$4.00$10.006/5$4.40$11.007/5$4.80$12.003/2$5.00$14.00
“What does 4 to 5 odds mean?” Here we will tell you what 4 to 5 odds mean, what 4 to 5 probability means, and show you what a 4 to 5 odds payout would be. 4 to 5 odds. This means that out of 9 possible outcomes, odds are that there will be 4 of one kind of outcome and 5 of another kind of outcome.
When horse racing odds are shown in the form of 7-2, 5-1, etc, it expresses the amount of profit to the amount invested. So odds of 7-2 mean that for every $2 invested, the punter gets $7 profit in return. This means when you bet $2, the total return if the bet is successful is $9.
This means that out of 4 possible outcomes, odds are that there will be 1 of one kind of outcome and 3 of another kind of outcome. For every 4, odds are that 1 will be a particular event and 3 will be another event.
7 to 1 odds payout
If you bet 1 on a game with 7 to 1 odds and you win, your total payout will be 8.00 which is your bet plus 7.00 profit.
This means that out of 11 possible outcomes, odds are that there will be 9 of one kind of outcome and 2 of another kind of outcome. For every 11, odds are that 9 will be a particular event and 2 will be another event. 9 to 2 probability.
The tote board does not show decimals, therefore, 5/2 odds means that the odds on a horse are 5 divided by 2, or 2.5-1. Win payoffs are calculated based on a $2.00 wager because at most tracks this is the minimum bet. Example #1: A horse that wins at 5-1 will return $5.00 for every $1.00 wagered.
The answer is the total number of outcomes. Probability can be expressed as 9/30 = 3/10 = 30% – the number of favorable outcomes over the number of total possible outcomes. A simple formula for calculating odds from probability is O = P / (1 – P). A formula for calculating probability from odds is P = O / (O + 1).