How Win Odds and Payouts Are Determined

$50,000 WAGERED
Horse #
Amount Wagered To Win On
Odds Board
Before Breakage
Breakage True Odds
Mutuel Payout
1 100 99* 409 409 820.00
2 200 99* 209 209 420.00
3 400 99* 101.5 101.5 203.00
4 800 50 50.25 50.2 100.40
5 1,600 24 24.625 24.6 49.20
6 3,200 11 11.812 11.8 23.60
7 4,800 7 7.541 7.5 17.00
8 6,400 5 5.406 5.4 10.80
9 8,400 7:2 3.88 3.8 7.40
10 24,100 3:5 .701 .7 3.40
Total: 50,000  
 
 
 

* Most Odds Boards in North America only display up to 99-1, regardless of how high the odds truly are.

Takeout = 18%

18% OF $50,000 = $9,000 TAKEOUT
50,000 - 9,000 Takeout = $41,000 to be divided among winning players.
$41,000 minus the amount wagered on the winner divided by the amount wagered on the winner = odds before breakage.

Example: # 6 has $3,200 wagered on him to win.

$41,000 - 3,200 = $37,800 divided by $3,200 = 11.812 before breakage or 11.8 -1 after breakage. 11.8 x 2 = 23.60 + $2.00 = mutual payout of $25.60.