Horse Betting Payouts
Everyone knows that you can bet on the winner of a horse race. But did you know that there are actually a variety of different horse racing wagers to choose from? Many people don’t, and they miss out on some great betting opportunities as a result.
That’s why we recommend learning about ALL the diverse types of horse racing wager available. We would even go as far as to say that it’s essential if you’re serious about trying to make money. Betting only on the winner of races can severely limit your chances of success, while using a variety of different wagers is much more likely to be profitable in the long run.
Calculating Horse Racing Betting Odds
One of the benefits of fixed-odds is that you can almost always calculate your potential payout before you place the bet. The second betting system which is particularly popular with horse races is pari-mutuel or tote betting. Instead of calculating your payout using odds, they are calculated based on the total pool of all stakes made for that bet.
Even if you’re a casual bettor, and only bet on the major horse races, it’s still a good idea to be aware of all your options. We have found several wagers we believe to be more stimulating than just betting on the winner of the race. Not to mention, many of them offer the potential for much better payouts too.
You are allowed one free payout, then you’ll be subjected to a fee for each withdrawal. Payouts are completed within 48 hours. This makes them a top sites out there. Determine the cost of your online horse racing wager. Learn about win payoffs and calculations for Exacta, Trifecta, Superfecta, Pick 6 and others. If you bet to place, the horse can finish first or second. The most conservative wager is the show wager where a horse can finish first, second or third giving you three chances to cash your ticket. Odds on the toteboard are for win wagers only and are approximate with the final payoff based on the final count of wagers from all simulcast outlets.
We’ve listed all the different horse racing wagers below, and explained how each one works. You may not want to use each and every wager on a regular basis, but they can all be valuable in the right situations.
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How to Calculate Betting Odds and Payoffs
Betting on the outcome of horse racing can be fun and profitable and, if you know what you're doing, you might even be able to beat the odds.
The horse racing betting odds for each horse are displayed on a tote board at the track or on the betting ticket online. The basic information on the betting ticket window is the 'odds to win' for each horse. Although it won't tell you how much the horse will pay, it does show the amount of profit you will get if you win and the amount you have to bet to get it. For example, 3-5 odds means that for every $5.00 you wager, you'll win $3.00.
Payouts are determined by how much is in the total pool (all the money bet on all the horses to win) minus the 'take' which is usually between 14%-20% depending on the track. The take varies from state to state and the money is used to pay taxes, purse money for the horsemen, expenses at the track, and the track's profit.
Most tracks require a $2.00 minimum bet, here are the pay-offs for $2 win bets:
| ODDS | ODDS | Payout | ODDS | |
| 1-5 | $2.40 | 8-5 | 6-1 | $14.00 |
| 2-5 | 9-5 | $5.60 | 7-1 | |
| 1-2 | $3.00 | 2-1 | 8-1 | $18.00 |
| 3-5 | 5-2 | $7.00 | 9-1 | |
| 4-5 | $3.60 | 3-1 | 10-1 | $22.00 |
| 1-1 | 7-2 | $9.00 | 15-1 | |
| 6-5 | $4.40 | 4-1 | 20-1 | $42.00 |
| 7-5 | 9-2 | $11.00 | 30-1 | |
| 3-2 | $5.00 | 5-1 | 50-1 | $102.00 |