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Now that you know how to read and calculate horse racing odds, you are ready to take the bet! But when the day comes, it is good to know what your overall chances are in walking away a winner. Some bets have better horse racing odds than others. Here is a quick reference chart that explains your chances of winning the types of bets mentioned earlier and the expected payout. Bet Type Chances of Winning Expectations Show Very Good Modest Payouts Place Good Payouts are better than show Win Average Payouts are better than place and determined by the win odds Exacta Hard Riskier bet that can pay a little or a lot, depending on how much is wagered on each selection Trifecta Very Hard High payouts but can be expensive to play with a lot of combinations Superfecta Extremely Hard Hard to bet unless you have a sizable bankroll, but big payouts are common.
One sure way you will be tagged as an amateur is if you do not know and use horse racing odds jargon. Here are some of the vocabulary you need to know:. Keep in mind, the top ten riders in the jockey standings win about 90 percent of the races run during the meet and favorite horses win about 33 percent of the time, and have low payoffs. Have fun at the race track, take a chance and hedge your bets! We hope this guide better explains horse racing odds and turns you into a confident bettor.
If you want to try and beat the horse racing odds, join our online betting platform and view live video of races! Want a better shot at walking away a winner? Then trust us and keep scrolling. Glad you asked! Changing Odds: Either at the track on the tote board or on your online sportsbook, the odds will change depending on how many people are betting on each horse in the race up until post time.
Favorites: Each race has a favorite. Probability: Fractional odds can easily be translated to probability percentages. To see an example of this calculated, keep on scrolling! There are several types of pari-mutuel horse bets.
A few of the most common are: Straight Bets Win Bets: Choosing the horse that crosses the finish line first. Place Bets: You are betting on a horse to finish second. Show Bets: Placing bets on a horse to finish third. Exotic Bets Exacta: When you pick the first and second place horse in that order. Trifecta: Select the first three finishers in a single race in order. Trifecta Box: Pick the first three finishers to finish in any order. Trifecta Key: Pick three horses, choose one to win and the others to come in second or third.
Superfecta: Pick the order of the first four finishers in one race. Superfecta Box: Pick four finishers, they can finish in any order. Superfecta Key: Pick four finishers, choose one to win and the other three finish in any order. Sounds complicated? Best Odds in Horse Racing Now that you know how to read and calculate horse racing odds, you are ready to take the bet! Bet Type Chances of Winning Expectations Show Very Good Modest Payouts Place Good Payouts are better than show Win Average Payouts are better than place and determined by the win odds Exacta Hard Riskier bet that can pay a little or a lot, depending on how much is wagered on each selection Trifecta Very Hard High payouts but can be expensive to play with a lot of combinations Superfecta Extremely Hard Hard to bet unless you have a sizable bankroll, but big payouts are common Glossary: Horse Racing Odds Jargon One sure way you will be tagged as an amateur is if you do not know and use horse racing odds jargon.
Here are some of the vocabulary you need to know: Fixed-Odds : A bet where you get the odds advertised by the better operator at the time you place your bet. Please note that AmWager does not used fixed-odds. Late Money : When a horse gets a lot of money wagered right before a race. Odds-On : A term used for a strong favorite to win, when to have to actually spend more to win. Short Odds : This is a high chance to win, but you will only make a small profit. Carryover : The money from a pari-mutuel pool if nobody selects the right winners.
The money left in the pool is added to the next instance of that pool. The consolation is usually much less than the full payout. Minus Pool : If the total amount of bets is insufficient to pay the holders of the winning ticket the legal minimums the track is required to make up the difference. Odds Board : The tote board, usually found in the infield. See you at the finish line! Share This Story! How to Place an Exacta Bet. Final order matters. An Exacta Box bet is picking any number of horses to finish first and second.
Final order does not matter. Your exacta box bet wins if any of your horses finish in the top 2 in any order. The exacta box costs more than a straight exacta because you must pay for each possible finishing combination. Racebooks will calculate exacta box cost for you.
See also this calculator. How to Place a Box Bet. An exacta box and quinella payout after the same race result. Two horses must finish first and second in any order. The mechanics of each bet differ. Quinella The quinella is one bet on 2 horses. This happens when a favorite is paired with a longshot. A winning longshot followed by a heavy favorite would pay more than the reverse result.
An Exacta Wheel bet is picking sets of horses to finish first and second. Each set is called a key. Each key contains 1 or more horses. Exacta Full Wheel — Put one horse in the 1st key with all other horses in the 2nd key. Alternatively, wheel 1 horse in the 2nd with all others in the 1st. Exacta Part Wheel — Put one or more horses in the 1st key with your own set of horses in the 2nd key. The part wheel does not include all other horses.