How does horse racing determine payouts in a pool game?
Date created: Mon, Mar 8, 2021 4:31 AM
Date created: Wed, Mar 10, 2021 4:09 PM
Odds are simply the way prices and payouts are shown at a horse track. The numbers displayed as 4-7 or 2-5 tell you what you pay and how much you get back if the horse you bet on wins. The first number tells you how much you could win, the second number is the amount you bet.
Date created: Thu, Mar 11, 2021 11:11 AM
But the main point holds true: each pool is totally independent; no pool payout is used to determine the payout in any other pool. And, of course, humans don't always behave logically; so every once in a while you'll see something like what happened in Race 7 at Calder on August 18 , when Daddys Jewel paid $3.80 to Place; the same amount that she paid to Win.
Date created: Fri, Mar 12, 2021 3:18 PM
As with all other wagers, Place and Show bets form their own pools; meaning that payouts are determined solely by the amount bet into those specific pools. So, for example, the amount bet on the Number 7 horse to Win is totally irrelevant to how much the Number 7 horse will pay for Place; which, in turn, is totally irrelevant to how much the Number 7 horse will pay for Show.
Date created: Sat, Mar 13, 2021 1:42 AM
To calculate the exact odds on your horse, just subtract the take from the total pool, then subtract the amount bet on your horse to give you the amount of cash to be paid out. Divide that figure by the amount bet on your horse to get the exact odds.
Date created: Sun, Mar 14, 2021 6:25 AM
Pools that have carried over to the last day of the horse racing meet must be paid out. They cannot carryover to another day because there are no racing days left in the meet. The track is not allowed to keep the money. Therefore, the bet is paid regardless of whether anyone wins or not.
Date created: Mon, Mar 15, 2021 6:30 PM
At last, note that this process does not need to know how many runners are in the race because calculations are based on the units, or how many places are paid out because you can simply invalidate certain payouts, and allows for the combination of several different categories of bet (like say, mixing the wins and the places bets, or the quinella and trifecta bets).
Date created: Thu, Mar 18, 2021 6:51 AM
The takeout pays for racetrack expenses, purse money, state and local taxes, etc. Payoff odds in horse racing are calculated by sharing the remaining pool (after takeout) among all placed bets. Whether a favorite wins or it’s the longest shot on the board, the track or simulcast outlet gets the same percentage out of your wager.
Date created: Thu, Mar 18, 2021 9:02 AM
In addition, value conscious horse players wait for carryovers to jump in because they recognize that they're getting a unique bonus - more money is being paid out that has been wagered that day, so instead of a takeout, there's an effective "put in" for those who stayed out of the previous days' pools. Our list of horse racing Carryovers shows you the largest and most popular carryover pools from major U.S based race tracks.
Date created: Fri, Mar 19, 2021 11:07 PM
They allocated 1% of the purse to horses that finished the race lower than fourth. The amounts paid out vary based upon the number of horses entered in the competition. More horses are finishing a race below fourth in a 12 horse race versus a six-horse competition.
Date created: Mon, Mar 22, 2021 9:30 AM
Dead heat rules in horse racing are similar to those in golf. Most payouts are made by dividing the stake by the number of horses in a tie. What Happens in a Dead Heat in Horse Racing? Though dead heat payout rules vary from state to state, most of them pay win and place bets the same. Here’s an example of what it may look like: Win and place pools are combined.
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Odds are simply the way prices and payouts are shown at a horse track. The numbers displayed as 4-7 or 2-5 tell you what you pay and how much you get back if the horse you bet on wins. The first number tells you how much you could win, the second number is the amount you bet. So, if the odds are listed as 2-1, you’ll get $2 for every $1 you bet.
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