It reflects the amount of money bet on a horse; the more money that is invested, the shorter the odds. When horse racing odds are shown in the form of , , etc, it expresses the amount of profit to the amount invested. A percentage of the pool is withdrawn to be reinvested into racing, and the remaining funds are paid out on the winning wagers. The mutuel payoffs lists — so named because TwinSpires uses the pari-mutuel betting system — are another way of indicating to bettors how much money they will receive.
Unlike the odds format ie , , , as mentioned above , the listed mutuel payoff includes the original investment and not just the amount of profit. Therefore, for a horse at , divide 7 by 4 1. If a bettor wants to know exactly how much money will be returned to them from a successful bet, multiply the mutuel payout by the amount invested, and then divide by two. Predict the first two horses in a race in the correct order. Predict the first three horses in a race in the correct order.
Predict the first four horses in a race in the correct order. The "longer the odds," or the less likely, the more money you could win. Learn the vocabulary of odds when betting. Many racetracks and betting establishments will have a booklet or pamphlet helping you learn terminology, but you should understand the lingo before you read odds.
Some of the basic words include: A bet or wager of any kind or amount. Someone who accepts bets and sets odds.
Placing bets on the team with the high odds, and the low odds, to minimize loss. On any event, the current odds or point spreads on the game. The money you pay, or risk, on an outcome or event.
Know that odds at the track tell you amount of profit you will make per dollar spent. To determine profit, multiply the amount you bet by the fraction. Understand that fractions greater than one mean a team is an underdog. This makes sense, because you would expect a bet on the underdog to have a higher payout. If you have a hard time with fractions, then see if there is a larger number on top then on bottom. When you bet for the underdog, it is called betting "against the odds. Know that moneyline bets only concern what team will win the game.
Odds are presented as a positive or negative number next to the team's name. A negative number means the team is favored to win, while a positive number indicates that they are the underdog. This means the Cowboys are the favorites, but pay out less money if a bet on them wins.
Try out an online to check your math when you first get started. Soon enough it will be second nature, but for now ask a friend or search for a calculator that fits your betting needs. You also get the money you bet back. To calculate how much profit you make per dollar spent, divide the amount you are going to spend by Multiply this number by the moneyline to see your potential profit.
When betting on the favorite, you take less risk, and thus earn less. Like positive odds, you earn back your bet when winning. To calculate profit, divide by the moneyline to find out the profit made per dollar spent. Notice that point spreads adjust the score for the favorite team. This is easiest to see with an example: If the New York Knicks are playing the Boston Celtics, and Boston is favored to win by a 4-point spread, then a bet on Boston only pays out if Boston wins by more than 4 points.
A bet on New York pays out if New York wins or if they lose by less than 4 points. If the favorite wins by the spread exactly, it is called a "push" and all bets are refunded. In the example, if Boston wins , then it is a push and no one collects a profit. If you see "half-odds" a 4. Ask your bookie about the "vig," which determines your potential profit. Also known as the "juice," the vigorish is the commission charged for placing a bet.
Typically the vig is , and you read this number like a moneyline bet see above. Sometimes there are different vigs for each team. A line from before might look like this: If the score is exactly what the bookies set, then the bet is a push and everyone gets their money back. Make sure to check this with your bookie first, however. Not Helpful 9 Helpful The should read Not Helpful 6 Helpful The "" means that a football team is favored to win by 13 points. For you to win the bet, the team must win by more than 13 points.
Not Helpful 0 Helpful 4. Not Helpful 18 Helpful Not Helpful 7 Helpful When I see a whole number alone on an odds sheet, what does it mean? Multiplying your stake by decimal odds gives your total return, not your profit which is total return -stake. To get to fractional from decimal, add 1. Not Helpful 29 Helpful