Calculate a Horse Racing BetDo you know how to calculate a horse racing bet? Many individuals don't and you shouldn't feel badly if you are among them. Still, you should take the time to learn all that you can about how to calculate a horse racing bet. Doing so can help you to not only have a better understanding of betting on the horses, but may also help you to set yourself up for better wins. Read on to learn the basics of ways to calculate a horse racing bet.
To start learning how to calculate a horse racing bet, consider the odds on a horse. Basically, these odds demonstrate the amount of money you could win and how much you need to bet to win it. For example, 10-1 means you could win $10 for each $1 wager you place. Likewise, 5-5 would mean you could enjoy a $5 profit for ever $5 bet.
As you calculate a horse racing bet, keep in mind that you can expect the toteboard odds to be rounded off. Usually, payoffs are rounded to the nearest five or ten cents. Also, most tracks have a minimum bet of $2.
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To calculate a horse racing bet in terms of exact odds, you'll need to know the win pool and as well as the amount of bets placed on the particular horse. The win pool consists of the entire amount of money wagered on all the horses being raced. All you need to do to calculate the exact odds is figure out the take and subtract that amount from the total pool. After doing that, you should subtract the amount wagered on the horse in question. This will let you know the amount of money that will go to winners. Finally, you should divide this amount by the amount of money wagered on your horse to obtain the best odds.
Knowing the take is important when you want to calculate a horse racing bet. Many people believe that the total pool is what goes to winners. However, the track deducts an amount before it pays winners. This amount goes to pay a range of things, from the track's profit to taxes. The amount of the take varies by state, but is generally between 14 and 20 percent.
There is a wealth of information online about how to calculate a horse racing bet. The best advice anyone can give you is to read everything you can about horse racing if you hope to win as much as possible. Knowledge is a key ingredient to big winnings.
by Arthur Bodley at 1800-sports.com on October 27, 2014
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