Understanding the True Connotation of Odds in Horse Racing

In the United States, after the legalization of online horse betting, many players look for betting related information. They look for information regarding types of bets, places to bet, a reputed sportsbook, etc. In this article, you will get to know various aspects of Horse Racing Odds. Everyone wants to win, but many bettors are actually unaware of the terms and conditions of horse racing odds. Placing a bet may be easier, and that’s why; players cannot gain more. If you wish to know about the horse racing odds, read the details here. 

About Horse Racing Odds

Odds are nothing but the payouts and prices shown at a horse track, and the numbers are displayed as 5-7, 3-6, etc. This number reveals what you have paid and how much you get to earn if the horse wins the race. In a set of 5-7, the first number 5 states how much you will win, and the second number, the 7 indicates how much you have a bet. 

Two formats 

Odds are displayed in either of the two formats, decimal or fractional. Let’s take a look at each format individually. 

1. Decimal

Decimal odds are recently introduced and are commonly used in Europe. It is represented in a format, like 6.00, and to get a potential return; you need to multiply your odds by your bet. Suppose your odds are displaced as 4.00; you need to multiply this with your stake to know the amount of the potential returns. 

2. Fractional

Fractional is known to be the traditional format and is widely used in many countries. Displayed as 5/1 and when you spell, you need to read out as five to one. Moreover, players can also read it for each $1 bet; you will win $5.  

Take some examples!

To understand the horse racing odds, take a look at the examples: 

• 5-4: It is spoken as 5 to 4 odds, and it means you will get a $5 profit forever bet of $4. The actual payout is 5 divided by 4 plus 1 = 2.25 times of original wager, $4 =$9 payout.
• 15-3 odds: You will say 15 to 3 odds, and you will get $15 for every wager of $3. Now when it comes to calculating the actual payout, it’s 15 divided by 3 plus 1 = 6 times of the original wager of $3 = $18 payout.
• 21 odds: In this type, it’s read as 21 to 1 odds, and for every $1 wager, you get a $21 profit. The process to calculate the actual payout is 21 divided by 1 plus 1 = $22 times of original $1 = $21 payouts.

Final thoughts!

Therefore, with the help of the above examples, it would be easier for you to understand how the odds are read and calculated. Now it would not be difficult for you to read the odds whenever you are placing bets. Take a chance at horse racing bets and have fun. It’s really interesting and is a way of earning some money while enjoying the match at the same time.