How to Figure out Horse Racing Odds

Gambling at the horse track centers around the odds of a horse winning a race. The odds help bettors choose their horses and determine how much they receive if their horse wins. Before you bet on a race, figure out how the odds work to maximize your winnings (and minimize your losses).

Things You'll Need

  • Racing form or track program
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Instructions

    • 1

      Consider how odds are initially calculated. Odds indicate the likelihood a horse will win a race. Past race history and other factors are taken into consideration to determine odds.

    • 2

      Watch the odds changes as race time nears. Odds go up or down depending on how many people bet on a horse. The favorite of the race will have the most bets. A horse that has few bets will have higher odds.

    • 3

      Check the boards for the most up-to-date odds and to calculate your possible winnings. You can use the odds to make a simple calculation in your head to determine the amount that you will receive if the horse you selected wins. For example, for a horse that is 4-to-1 with a $2 bet, you will receive $10. The calculation is simple: the odds multiplied by the bet added to the original amount that you put up for the bet.

    • 4

      Bet using "exacta" and "trifecta" wagers. Exacta bets require that you pick the first- and second-place winners of a race. Trifecta means you pick the first-, second- and third-place horses. The odds can work in your favor the most with these types of bets: If one of the horses that you choose has greater odds, but the other two are favorites, you will still win a decent amount.

    • 5

      Use the odds to make the most money at the racetrack. Taking a chance on a few horses with greater odds can offer big payouts.