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Horse betting: calculating odds and payoffs

 

Horse betting is an activity associated with horse racing. Just like any betting on any other sport this betting involves the choice of what the outcome is going to be. However, unlike other sports horse betting involves putting money on the horse that will be the first to cross the finish line or the one that will be in the second or third place. Get online roulette tips from pros.

To participate in a horse race betting there are some things that you need to know. But, the most important is for you to know how to calculate both the odds and payoffs. Usually a tateboard is used to display the odds during the horse race. This is usually denoted in terms of the amount a person has collected relative to how much he has betted.

Payoffs on the other hand, tend to be complicated since they include both the amount a person has risked as well as the profits gained from the gamble. It is important to note that the actual payoff differs from the table as the odds on the tateboard are rounded off. In a horse race 2-1 odds on the tateboard may actually equal to 1.9-1.
 

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Another thing that is worth remembering is that payoffs are usually rounded off to the nearest nickel since they depend on the actual odds. This however, depends on the rules of the track. For beginners this rounding off, sometime known as breakage can be very difficult. However, to better understand this phenomenon, there are books that have been published, that discuss it in details.

To calculate the exact win odds on a horse, a pair of other figures on the tateboard is required. This is the total win pool and the amount of money used to bet on a particular horse. Total pool involves the entire amount used to bet on all the horses excluding the owners winning tickets. Also there is another figure called the “take” that the track has to deduct before it pays the winner his money. This is just a brief information on how to calculate odds and payoffs in a horse race thus to gain more knowledge in this matter, there are materials published that can be of great help.

 

 

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