You will get an additional Gold prize when finishing a series for 75% and also for 100%. To finish a series you will need to win all the races in it and that’s the struggle – this includes also doing the showcase races for all cars and you need to own all the cars. This is a lot of R$ spent there. Share on Pinterest Share on Facebook.
Today is the day. You proudly strut yourself to your favorite racetrack. You know your stuff and you’re sure of your picks. You know the odds and place your bets with confidence. The race begins, the anticipation builds, the finish line roars and you are congratulated by your friends when you walk out with cash in your pocket.
Everyone wants to be a winner, but the reality is that most of us do not fully understand the intricacies of horse racing odds. Sure, placing a bet is easy enough but that is why most race goers walk out with less money than they came in with. Are you one of them?
Are you just placing bets blind and hoping for the best? It’s completely fine if you are. We won’t judge. We made this guide just for you! Here we will explain and simplify horse racing odds to make betting easier.
One of the surest ways people lose money on horse racing is not knowing how to bet or understanding the odds. To a beginner, all those numbers on the tote board and hearing all of the horse racing odds jargon can be pretty daunting.
Want a better shot at walking away a winner? Then trust us and keep scrolling.
What Are Horse Racing Odds
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. Odds are displayed in one of two formats.
Fractional: These are more traditional and widely used and are displayed as 4/1. When spoken, you would say this format as “four to one”. You can read these horse racing odds as for every $1 you bet, you will receive $4 if you win (plus your original bet).
Decimal: This type of odd is recently introduced to the industry and is more commonly used in Europe. These are displayed in the format of 5.00, unlike fractional odds, your stake is already factored in. To get your potential return, multiply the odd by your bet. If the odd is displayed at 5.00, multiply this by your stake to calculate potential returns.
Let’s explain some U.S. horse racing odds examples:
6-5 odds
- Spoken: 6 to 5 odds
- Meaning: You will get $6 in profit for every $5 you wager
- Actual Payout: 6 divided by 5 plus 1 = 2.2 times original $5 wager = $11.00 Payout
20 odds
- Spoken: 20 to 1 odds
- Meaning: You will get $20 in profit for every $1 you wager
- Actual Payout: 20 divided by 1 plus 1 = 21 times original $1 = $21 payout.
10-2 odds
- Spoken: 10 to 2 odds
- Meaning: you will get $10 in profit for every $2 you wager
- Actual Payout: 10 divided by 2 plus 1 = 6 times original $2 = $12 payout
How to Read Horse Racing Odds
So how exactly do you read horse racing odds. Glad you asked! Let’s explain this from the top.
The Morning Line:
Before any of the actual wagering starts, there are “morning line” odds. These are the odds placed on each horse by the track’s handicapper. These are published in either the program, racing form, or online at your sportsbook. In today’s horse racing, the morning lines are rarely something to go by since they change so much as more bets are placed.
Changing Odds:
Either at the track on the tote board or on your online sportsbook, the odds will change depending on how many people are betting on each horse in the race up until post time.
Favorites:
Each race has a favorite. This is the horse most likely to win. If there is more than one horse with the same odds of winning it may be displayed with “JF” meaning joint favorite.
Probability:
Fractional odds can easily be translated to probability percentages. As such, a race with 1/1 odds would signify that for every failure, there would be one success, giving you a 50% probability. A 2/1 fraction suggests that for every 2 failures, there’s one chance of success, giving you a 33% probability; 3/2 means a 40% chance, 2/3 works out to 60%, and 10/1 means a 9% chance, and so on.
Standard Win Bets and Payouts
The minimum standard bet for horse racing is $2. Depending on the race and the rules of the racetrack, the minimum could be slightly lower. Before you even begin to place a bet, you need to know what the odds are of the particular bet you want to make. This easy-to-read chart explains exactly what the payout would be on a $2 winning bet at various odds:
| Odds | $ Payout | Odds | $2 Payout | Odds | $2 Payout |
|---|---|---|---|---|---|
| 1/9 | $2.20 | 8/5 | $5.20 | 7/1 | $16.00 |
| 1/5 | $2.40 | 9/5 | $5.60 | 8/1 | $18.00 |
| 2/5 | $2.80 | 2/1 | $6.00 | 9/1 | $20.00 |
| 1/2 | $3.00 | 5/2 | $7.00 | 10/1 | $22.00 |
| 3/5 | $3.20 | 3/1 | $8.00 | 11/1 | $24.00 |
| 4/5 | $3.60 | 7/2 | $9.00 | 12/1 | $26.00 |
| 1/1 | $4.00 | 4/1 | $10.00 | 13/1 | $28.00 |
| 6/5 | $4.40 | 9/2 | $11.00 | 14/1 | $30.00 |
| 7/5 | $4.80 | 5/1 | $12.00 | 15/1 | $32.00 |
| 3/2 | $5.00 | 6/1 | $14.00 | 16/1 | $34.00 |
How to Calculate Betting Odds and Payouts
One of the reasons why horse betting is difficult is because the odds fluctuate every time a bet is placed. This fluctuation is called pari-mutuel wagering, or pool betting. In typical betting games, you’re betting against the house. With horse racing you are betting against other betters.
Once the winning horse has crossed the finish line, the house will deduct its take and the remaining amount is then divided among the people who bet on the winning horse.
Highest Paying Race In Real Racing 3
To see an example of this calculated, keep on scrolling!
There are several types of pari-mutuel horse bets. A few of the most common are:
Straight Bets
- Win Bets: Choosing the horse that crosses the finish line first.
- Place Bets: You are betting on a horse to finish second.
- Show Bets: Placing bets on a horse to finish third.
Exotic Bets
- Exacta: When you pick the first and second place horse in that order.
- Trifecta: Select the first three finishers in a single race in order.
- Trifecta Box: Pick the first three finishers to finish in any order.
- Trifecta Key: Pick three horses, choose one to win and the others to come in second or third.
- Superfecta: Pick the order of the first four finishers in one race.
- Superfecta Box: Pick four finishers, they can finish in any order.
- Superfecta Key: Pick four finishers, choose one to win and the other three finish in any order.
Unlike with win bets, there are no exact horse racing odds for exotic bets because there are too many variables. Yet at Amwager, we post probable payouts for exacta and daily double wagers. Also for exotic wagers, the payouts are calculated differently. Once the house takes its cut, typically 15%, the rest is divided between the bet winners. Your payout is calculated by subtracting the amount of winning dollars from the total pool, then dividing the remaining pool by the amount of cash bet on the winner, and finally adding back in the winning bet amount.
Sounds complicated? Here’s how it breaks down:
Race: $100,000 in the winning bet pool.
House takeout: $15,000 (15%) (This means there is $85,000 available to be won).
Total bets on the winning horse: $42,500
Your personal bet on the winning horse: $2
He wins!
- To get the odds: $85,000 / $42,500 – $1 = $1.00 or 1 to 1 odds.
- To get the payout per dollar (or decimal odds) $85,000 / $42,500 = $2.00
- Your $2 bet will pay back a total of $4.00
- You made a profit of $2.00 on a $2.00 bet.
For easy math, we used round numbers. But in the real world, this does not always happen. Payouts use the actual odds and are rounded down to the nearest nickel or dime, depending on the rules of the racetrack. This rounding is called breakage.
This is why every racetrack has television simulcast commentator who handicaps between the races as well as publishing handicapping tip sheets to help you place your bets. At AmWager, we have our own horse racing handicapper that gives expert picks on upcoming races.
Best Odds in Horse Racing
Now that you know how to read and calculate horse racing odds, you are ready to take the bet! But when the day comes, it is good to know what your overall chances are in walking away a winner. Some bets have better horse racing odds than others. Here is a quick reference chart that explains your chances of winning the types of bets mentioned earlier and the expected payout.
| Bet Type | Chances of Winning | Expectations |
|---|---|---|
| Show | Very Good | Modest Payouts |
| Place | Good | Payouts are better than show |
| Win | Average | Payouts are better than place and determined by the win odds |
| Exacta | Hard | Riskier bet that can pay a little or a lot, depending on how much is wagered on each selection |
| Trifecta | Very Hard | High payouts but can be expensive to play with a lot of combinations |
| Superfecta | Extremely Hard | Hard to bet unless you have a sizable bankroll, but big payouts are common |
Glossary: Horse Racing Odds Jargon
One sure way you will be tagged as an amateur is if you do not know and use horse racing odds jargon. Here are some of the vocabulary you need to know:
- Fixed-Odds: A bet where you get the odds advertised by the better operator at the time you place your bet. Please note that AmWager does not used fixed-odds.
- Late Money: When a horse gets a lot of money wagered right before a race.
- Odds-On: A term used for a strong favorite to win, when to have to actually spend more to win. A horse priced at 1/3 is odds on.
- Long Odds: This is an underdog bet, but if you win you’ll receive many multiples of your stake back. A horse priced at 50/1 is long odds.
- Short Odds: This is a high chance to win, but you will only make a small profit. A 6/4 odd is short odds.
- Carryover: The money from a pari-mutuel pool if nobody selects the right winners. The money left in the pool is added to the next instance of that pool.
- Consolation: A payout even if nobody picks the right winners, the Pick 6 will give a small consolation payout to a play that “almost” wins – this is where the term “consolation prize” is coined. The consolation is usually much less than the full payout.
- Minus Pool: If the total amount of bets is insufficient to pay the holders of the winning ticket the legal minimums the track is required to make up the difference.
- Odds Board: The tote board, usually found in the infield.
And They’re Off!
Real Racing 3 Prize Money List 2019
When it comes to horse racing odds, there are so many factors to consider that it’s no wonder some people find it confusing. Keep in mind, the top ten riders in the jockey standings win about 90 percent of the races run during the meet and favorite horses win about 33 percent of the time, and have low payoffs.
Have fun at the race track, take a chance and hedge your bets! We hope this guide better explains horse racing odds and turns you into a confident bettor.
If you want to try and beat the horse racing odds, join our online betting platform and view live video of races!
See you at the finish line!
As you’d expect if a horse had just won two of the richest races on the planet, there’s been a change in the upper reaches of the all-time money list, although Mishriff’s arrival in the world top 20 isn’t quite as dramatic as you might imagine.
Prince Abdul Rahman bin Abdullah Al Faisal’s Prix du Jockey Club-winning colt had been doing very nicely with around £700,000 in the bank before 2021 began, but victories in the Saudi Cup and the Dubai Sheema Classic under the Prince’s retained jockey, David Egan, added another £9.5 million to the account in the space of just five weeks in February and March.
So the John Gosden-trained 4-year-old, who is now ranked third in the TRC Global Horse Rankings (based on the quality of his performances and nothing to do with earnings) surges into the top 20 earners at #13.
Expect him to move a fair bit higher through 2021 if he competes as successfully during the European turf campaign being considered for him, and to possibly challenge Winx at the very top if the Arc and/or the Breeders’ Cup Classic were to make it on to the agenda.
THE TOP 20
Horses who have raced in 2021 are highlighted
Thanks to ‘Tim Whiffler’ for his invaluable assistance
Drone Racing Prize Money
As you can see, the other new entry in the 20 - at #20 - is last season’s Hong Kong Horse of the Year, Exultant. The 5-time G1-winning son of Teofilo races on at a high level at the age of 7 for trainer Tony Cruz, although he is perhaps not at quite the standard he was a year or so ago. Nevertheless, five placed efforts this term have boosted his career tally to more than £7.7 million.
Exultant went to Hong Kong towards the end of 2017, having been known as Irishcorrespondent when he raced in Ireland for trainer Mick Halford. He was still an immature 3-year-old when third to Churchill in the Irish 2000 Guineas on only his third start. Runner-up that day was Godolphin’s Thunder Snow, who is now fourth in this all-time money list, having won back-to-back Dubai World Cups in 2018-19.
The only other horse to significantly enhance their earnings since we last published this list at the end of November is the Japanese mare Chrono Genesis, who took the Arima Kinen (alongside the Japan Cup), the joint-richest race in Japan, at Christmastime and was beaten just a neck by Mishriff in the Sheema Classic. However, her total is still below £7 million. Expect that too to change through 2021.
Just a reminder here that these earnings updates are merely a register of cash won - we don’t pretend it provides any index of quality. It’s just that we think it’s interesting to look at. Our TRC rankings totally ignore prize money in its assessments.
It should be noted that the standings most North Americans will be familiar with - the one compiled by Equibase - include only horses that raced in North America even if it was just once, whereas this TRC list includes all horses worldwide (and is therefore - Winx, Arrogate, Thunder Snow, Gun Runner and Enable apart - dominated by Japanese).
As an example, Espoir City, who was winning valuable races on the dirt in Japan until he was eight, is high on the Equibase list by virtue of a single run down the field behind Blame in the 2010 Breeders’ Cup Classic at Churchill Downs. By our calculations, however, his earnings are not now enough to make the top 20. We would certainly not include him in North American standings.
Of course, when analysing any list of global leading money-earners, it must be remembered that much depends on what currency is used. Our list was originally compiled by the International Racing Bureau, which is a British company, hence the use of sterling and the official overseas currency exchange rates issued by the British Horseracing Authority in the first week of every January.
It should also be noted, of course, that this list makes no attempt to allow for inflation.