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Horse racing payout fundamentals

Obviously, when you bet on a horse to win, you expect that you will get a lucrative return and earn more money than you staked. Horse betting payout, therefore, determines how much you receive after the race ends as expected. Usually, the payout depends on the amount you stake, the betting odds and the type of bet you placed. In addition, the amount of money received after horse race finishes as expected varies with different bettors who stake different amount of money and placed different types of bets.

Well, for you to expect any payout you must place a bet. The most common terminologies and types of bets you can place are outlined below;

WIN: Betting on a particular horse to win (This is a basic type of bet)

PLACE: Betting on a particular horse to either finish the race at first or at the second position.

SHOW: Betting on a particular horse to finish the race at either first, second or third position.

The types of bets discussed above are the basic bets that are familiar to almost everyone. They are relatively easy to make; calculate the cost and determine the payout. In contrast, exotic bets are more complex and they are generally not easy to calculate the cost and to make. Some of the exotic bets are EXACTA, TRIFECTA, SUPERFECTA and DAILY DOUBLE.

How do you determine the potential payout for a win wager?

 

Well, horse race betting is done through pari-mutuel wagering system which is designed in a such way that players bet against each other and not against the house. Usually, the house takes a portion of the total pool (normally between 15% and 20%)and the rest is paid out to all the players that have the winning tickets. The total in a general view sums up to slightly above 100%. This is because it includes the house take.

To calculate how the amount of money you will win if the race ends as expected, you will need to check the odds given and do the necessary calculation. For instance, if you have been given an odd as 1/10, take the numerator, divide it by the denominator, multiply by the stake and then add the result to the amount bet.

A $4 win bet on a horse at 1/5 odds:

(1/5)*4 +4=$4.8

A $10 win bet on a horse at 2/1 odds:

2*10+10=$30

Figuring out how much you will get paid for Place and Show types of wagers are more complex to calculate since tracks don’t show or rather display odds on those bets. Normally, they pay out less than half of what the winning odds play (unless the stallion is a large longshot and the most favorite fails to finish in the top 3).

It is not straight-forward to determine the payouts on exotics i.e. tracks show the “will pays” for exactas and daily doubles. Therefore, you won’t know what your trifecta bet, superfecta bet, pick 3 among others will pay out until the order is over. In a general view, superfectas and trifectas is promising in terms of high returns, but you should be careful because if you play all the favorites in a trifecta, it is likely that it will return a small amount especially if compared to the cost of your bet. If you stake $110 on a superfecta box that has a bunch of lowly priced horses, you’re going to be paid a small amount of money. The trick to winning larger scores is to look for some longer priced stallions to play along with those that are shorter priced.

Bridge Jumping

 

Some punters like to bet in such a way that they will expect a large payout. Apart from working with exotic wagers, bridge jumping is also a way that you can use to stand a chance of ‘winning big’. Simply put, a bridge jumper is a punter who bets an uncommonly large wager on one horse, normally to show. Due to pools having a mandatory payout of $2.1 or $2.2 no matter how small the odds are, if a bridge jumper is successful, he will receive a small return on his big bet no matter what the actual odds are. A ’minus pool’ is created because the amount paid out to the bridge jumper than the track receives through the takeout. Usually, most of the bridge jumpers get their big bets.

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