How To

How to Calculate Payoffs on Your Race Bets

Contributor
By eHow Contributing Writer
(5 Ratings)

This eHow assumes parimutuel betting, which means that odds are set by the amount bet on the horse. The more money bet on the horse by everyone betting, the lower the odds and the less you get back for every dollar you bet.

Difficulty: Easy
Instructions

Things You'll Need:

  • Cash
  1. Step 1

    Buy a daily racing paper.

  2. Step 2

    Analyze and study the race or races in which you are interested.

  3. Step 3

    Go to the race track or off-track betting establishment you wish to bet in.

  4. Step 4

    Place your bet after careful evaluation

  5. Step 5

    Know that the track takes out a percentage of the dollars bet before any payouts are made.

  6. Step 6

    Keep track of your ticket.

  7. Step 7

    Collect your winnings once the race is finished.

Tips & Warnings
  • In order to calculate payouts, the track subtracts between 15 and 18 percent of the total dollars bet to win, divides the remainder by the number of dollars bet on the winning horse, multiplies that number by $2 and rounds down to a multiple of 20 cents.
  • Gambling can be addictive. If you think you have a problem, get help immediately.

Comments  

ilikemoney said

Flag This Comment

on 4/21/2009 Thanks for the tip. You can bet for free at http://www.bettorfan.com/recruit.php?uid=66

Post a Comment

Post a Comment
  • Have you done this? Click here to let us know.
I Did This

Related Ads

Get Free Sports & Fitness Newsletters

Copyright © 1999-2009 eHow, Inc. Use of this web site constitutes acceptance of the eHow Terms of Use and Privacy Policy.   en-US

eHow Sports and Fitness
eHow_eHow Sports and Fitness