How to Calculate Payoffs on Your Race Bets

This eHow assumes parimutuel betting, which means that odds are set by the amount bet on the horse. The more money bet on the horse by everyone betting, the lower the odds and the less you get back for every dollar you bet.

Things You'll Need

  • Cash
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Instructions

    • 1

      Buy a daily racing paper.

    • 2

      Analyze and study the race or races in which you are interested.

    • 3

      Go to the race track or off-track betting establishment you wish to bet in.

    • 4

      Place your bet after careful evaluation

    • 5

      Know that the track takes out a percentage of the dollars bet before any payouts are made.

    • 6

      Keep track of your ticket.

    • 7

      Collect your winnings once the race is finished.