Find out how to determine the values of your payoffs and odds
Even though there are a lot of people placing bets on horse races, the truth is that few of them actually know how to properly read the tote board. The data presented on the tote board includes the odds of winning the race for each of the horses entered and the maximum amount you can gain if you bet a certain sum of cash. More exactly, when you see something like 6-5, the correct way you should read it is: for each five dollars you place on the bet, you will gain six dollars.
It is important to note that the tote boards only hold an estimation of what you will win and do not represent the actual payoff you will receive in the event that you guessed right. In fact, they are rounded off to allow people to make the calculations easier. As a consequence, a 3 can represent anything between 2.9 and 3.2. Whether the estimation is up or down when rounded will depend on the policies of each individual tracking race.
by Derby Nation Posted in Horse Racing Betting | No Comments »