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Odds Explanation
The chart below shows most odds quotations that you will encounter at the racetrack.
Whenever there are two numbers displayed on the tote board (example 9:2) the
first number (9) designates the minimum amount of profit the wager will pay, while
the second number (2) is the amount you need to wager to win the said amount. When
a race becomes official the track will post the prices of the winning wagers. In the
above example the horse will pay $11.00. The track adds the profit and the $2 wager
together (9+2=11) to derive the payout. All payouts are based on a $2 wager unless
otherwise stipulated. Whenever a horse is quoted with a single number (example: 5)
it is implied that the second number (that is missing) is a 1. So 5 on the tote
board really mean 5-1. In this example the horse would pay $12.00 because the
payout is based on a $2 wager. 5-1 is the same as 10-2, $10.00 + $2.00 = $12.00.
The very first odds quotation listed in the chart above reads 1:9. This is the only
quotation that the track will list that is incorrect. Whenever 1:9 is quoted it
really means 1:10. The reason tracks quote 1:9 is that the tote board does not
have the space to list 1-10, which requires an extra digit. The payout on a 1-9
shot is figured as follows. $1 is the profit for every $10 wagered, or $.20
profit for every $2.00 wagered. $.20 + $2.00 = $2.20. In some cases a horse will
pay as low as $2.10. This is the minimum payout allowed by law. Years ago the
minimum payout was $2.20 but that was changed to help protect the track against
MINUS POOLS. When a wager pays
$2.10 the correct odds were 1:20 but the lowest odds the tote board can
display is still 1:9.
| 1/9 |
.909 |
10-1 |
.091 |
| 1/5 |
.833 |
11-1 |
.083 |
| 2/5 |
.714 |
12-1 |
.077 |
| 1/2 |
.667 |
13-1 |
.071 |
| 3/5 |
.625 |
14-1 |
.067 |
| 4/5 |
.556 |
15-1 |
.063 |
| 1 |
.500 |
16-1 |
.059 |
| 6/5 |
.455 |
17-1 |
.056 |
| 7/5 |
.417 |
18-1 |
.053 |
| 3/2 |
.400 |
19-1 |
.050 |
| 8/5 |
.385 |
20-1 |
.048 |
| 9/5 |
.357 |
25-1 |
.038 |
| 2-1 |
.333 |
30-1 |
.032 |
| 5-2 |
.286 |
35-1 |
.028 |
| 3-1 |
.250 |
40-1 |
.024 |
| 7-2 |
.222 |
45-1 |
.022 |
| 4-1 |
.200 |
50-1 |
.020 |
| 9-2 |
.182 |
60-1 |
.016 |
| 5-1 |
.167 |
70-1 |
.014 |
| 6-1 |
.143 |
80-1 |
.012 |
| 7-1 |
.125 |
90-1 |
.011 |
| 8-1 |
.111 |
100-1 |
.001 |
| 9-1 |
.100 |
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To figure what odds a horse was when you only see what the horse paid is very
simple. Take the mutual price of the horse (say $24.60) and subtract $2.00 = 22.60
and divide by 2 = 11.3. the horse went off at 11.3-1.
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