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Yet at Amwager, we post probable payouts for exacta and daily double wagers. Also for exotic wagers, the payouts are calculated differently.
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.
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. 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. This could be anything from a single to a Yankee to Super Heinz or an accumulator.
The calculator may also ask you to either enter the odds in the decimal or fraction format, but we will touch upon the key issues related to that further on in this article.
You will then repeat that process however many times is necessary — for example, if you have placed multiple bets — and then may also be able to add information related to Dead Heats or any situation when Rule 4 may have come into play.
The latter offers compensation in the event that a horse withdraws from a race after a bet is placed. The place terms for your bet include, the number of places the bookmaker will pay out on, and the fraction of the odds you will get if the horse does place.
A Rule 4 deduction occurs when the winnings of your bet are reduced due to another horse being withdrawn from the race after your bet has been placed.
The odds shown on any horse are based on all horses competing. If one backs out, the odds will change — even if you have already placed your bet.
Unfortunately, if this happens the odds are going to get shorter. So your potential winnings will go down. The amount you can expect to have deducted from your winnings due to a Rule 4 varies depending on what the odds of the withdrawn horse were at the time it was withdrawn.
The table below shows the deductions which will be taken from your winnings. Note that even if multiple horses withdraw, the deduction will not exceed 90p in the pound.
If one of these horses was yours. Your winnings will be reduced depending on the number of horses who have dead-heated.
Bet Credits available for use upon settlement of bets to value of qualifying deposit. Min odds, bet and payment method exclusions apply.
Place terms can differ from event to event, bookie to bookie. A multiple bet or multi where you place one bet but need both selections to win in order to collect.
A win double two bets on Liverpool to win the Premier League and Leeds to win the Championship. Another type of horse racing payout calculator is the exotic wager horse racing payout calculator.
However, an estimation on the pool sum can be made by the horse racing payout calculator in order to give the punter a slight clue on the payout.
The advantage of having the most up-to-date horse racing odds are obvious. Odds can change significantly in minutes, sometimes undermining the reasons why a specific wager was placed.
Read Full Review. Places - the number of places being offered by your bookmaker for the event in which your selection is taking part.
Position - the finishing position for the dead heat. If the dead heat is for first then you should enter 1, if the dead heat is for second then you should enter 2, etc.
Total - the number of joint favourites, more accurately termed co-favourites if there are more than two. Winners - the number of favourites that won the race.
This will normally be 1, since a value of 0 would indicate that your selection did not win.