How to Figure out Horse Racing Odds

Gambling at the horse track centers around the odds of a horse winning a race. The odds help bettors choose their horses and determine how much they receive if their horse wins. Before you bet on a race, figure out how the odds work to maximize your winnings (and minimize your losses).

Instructions

Difficulty: Moderate

Things You’ll Need:

• Racing form or track program

1. Consider how odds are initially calculated. Odds indicate the likelihood a horse will win a race. Past race history and other factors are taken into consideration to determine odds.
2. Watch the odds changes as race time nears. Odds go up or down depending on how many people bet on a horse. The favorite of the race will have the most bets. A horse that has few bets will have higher odds.
3. Check the boards for the most up-to-date odds and to calculate your possible winnings. You can use the odds to make a simple calculation in your head to determine the amount that you will receive if the horse you selected wins. For example, for a horse that is 4-to-1 with a $2 bet, you will receive $10. The calculation is simple: the odds multiplied by the bet added to the original amount that you put up for the bet.
4. Bet using "exacta" and "trifecta" wagers. Exacta bets require that you pick the first- and second-place winners of a race. Trifecta means you pick the first-, second- and third-place horses. The odds can work in your favor the most with these types of bets: If one of the horses that you choose has greater odds, but the other two are favorites, you will still win a decent amount.
5. Use the odds to make the most money at the racetrack. Taking a chance on a few horses with greater odds can offer big payouts.