Calculating

[rmaciasl]

For Win

Is The Odds Time Two Plus My Dlls


How Do U Do For Place And Show

[cheezer]

Here is some info for you rmac. Place and show payouts depend on the odds of the top three finishers of the race. They vary quite a bit sometimes. There is really no need to calculate these payouts unless you are making a specific
place or show bet. Look at past results of races to get an idea of how they are calculated. Make sure you check out the odds of the finishers also.

How to Calculate Odds and Payoffs
From Cindy Pierson Dulay,
Your Guide to Horse Racing.
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Do you know how to read the toteboard? You would be surprised how many people don't understand it at all. The most basic information there is the win odds quoted on each horse. Those don't tell you what the horse will pay, but the amount of profit you will get and the amount you have to bet to get it. 6-5 means you will get $6 profit for every $5 wagered. 20-1 means you get $20 profit for every $1 wagered. Since most tracks have a $2 minimum bet, here is a handy chart look up the payoff for a $2 bet at various odds. Remember, your actual payoff may differ from this chart as the odds on the toteboard are rounded off, so 2-1 odds on the toteboard may actually be 2.0-1 or 2.2-1. Payoffs use the actual odds and are rounded down to the nearest nickel or dime depending on the rules at that track.


If you want to calculate the exact win odds on a horse, you will need to use a couple of other figures from the toteboard: total win pool and amount bet on that horse. The total pool is all the money bet on all the horses to win, but it is NOT the amount that will actually be paid out to the holders of winning tickets. Before the track pays off the winners they deduct the "take" which is generally between 14%-20% and is different for every state. You can look up the take at your track here. This money goes to pay state and local taxes, purse money for the horsemen, expenses at the track, and the track's profit. To calculate the exact odds on your horse, just subtract the take from the total pool then subtract the amount bet on your horse to give you the amount of cash to be paid out. Divide that figure by the amount bet on your horse to get the exact odds. This figure will always be rounded off to the nearest dime (usually) or nickel as mentioned above before the payoffs are calculated. Again, those who want to know more about breakage and how it affects your payoffs should read this article. Here is a simple example of win odds calculation:

Total pool: $900
Amount bet on horse #1: $300
Take amount: 15%

$900 - 15% = $765
$765 - $300 = $465
$465 / $300 = $1.55

Round this off to $1.50 for breakage and you get odds of 1.5-1 or 3-2 as it would normally be written which yields a payoff of $5.00 on a $2.00 wager.

ODDS PAYS ODDS PAYS ODDS PAYS
1-5 2.40 8-5 5.20 6-1 14.00
2-5 2.80 9-5 5.60 7-1 16.00
1-2 3.00 2-1 6.00 6-1 18.00
3-5 3.20 5-2 7.00 9-1 20.00
4-5 3.60 3-1 8.00 10-1 22.00
1-1 4.00 7-2 9.00 15-1 32.00
6-5 4.40 4-1 10.00 20-1 42.00
7-5 4.80 9-2 11.00 30-1 62.00
3-2 5.00 5-1 12.00 50-1 102.00

Here is another article


Horse Racing Breakage

Experienced handicappers already know about breakage, however, many bettors at the track don't know what breakage is or how it affects them.

by Miles Michelson

What is Breakage?

Breakage is the downward rounding of the odds on the toteboard that occurs at every track in the U.S.. In certain situations it can have a signifigant impact on the effective takeout rate you get at the track and thus can hurt your overall profits.

All tracks in the United States currently use dime breakage which means that the fair odds on a horse are always rounded down to the nearest tenth. For instance if the odds on a specific horse were 6.73/1, they would be rounded down to 6.7/1 before calculating payoffs. Since you need multiply the odds by two and add $2.00 to get a payoff, dime breakage has the effect of rounding payouts down to the nearest multiple of 20 cents.

Without breakage, it wouldn't be uncommon to see win payoffs such as $3.43 or $14.36. Instead when you see prices on the toteboard they are always rounded off. The two prices listed above would show up as $3.40 and $14.20 respectively.

How it Affects You

Percentage of payout lost to breakage
Odds Payout Range Maximum Effect of Breakage Average Effect of Breakage
1/9 $2.40 -0.0%* -0.0%*
1/5 $2.40-$2.60 -7.3% -3.5%
2/5 $2.80 -6.4% -3.2%
1/2 $3.00 -6.0% -3.0%
3/5 $3.20-$3.40 -5.6% -2.7%
4/5 $3.60-$3.80 -5.0% -2.4%
1 $4.00-$4.20 -4.5% -2.2%
6/5 $4.40-$4.60 -4.1% -2.1%
7/5 $4.80 -3.8% -1.9%
3/2 $5.00 -3.7% -1.8%
8/5 $5.20-$5.40 -3.5% -1.7%
9/5 $5.60-$5.80 -3.3% -1.6%
2 $6.00-$6.80 -3.1% -1.45%
5/2 $7.00-$7.80 -2.6% -1.26%
3 $8.00-$8.80 -2.3% -1.11%
7/2 $9.00-$9.80 -2.1% -0.99%
4 $10.00-$10.80 -1.9% -0.90%
9/2 $11.00-$11.80 -1.7% -0.82%
5 $12.00-$13.80 -1.5% -0.73%
6 $14.00-$15.80 -1.3% -0.63%
7 $16.00-$17.80 -1.2% -0.56%
8 $18.00-$19.80 -1.0% -0.49%
9 $20.00-$21.80 -0.9% -0.45%
10 $22.00-$23.80 -0.8% -0.41%
11+ over $24.00 < -0.7% < -0.35%
There's no way to tell ahead of time how much breakage is going to affect a particular wager. The amount can fluctuate wildly in a parimutuel pool and there's no way to know or predict what the effect of breakage will be when the windows close. Instead, bettors just need to realize that on any given wager, breakage will reduce their expected payout by a maximum of 19 cents and a minimum of 0 cents. On average, over the course of many bets, one would expect that breakage would reduce a bettors overall payout by 9.5 cents.

When you're talking about larger payouts of more than $10.00, 9.5 cents isn't a large percentage of the overall price and really doesn't really cost the bettor a whole lot. However, when fair payouts approach their minimum possible values ($2.40 for win wagers, $2.20 for place wagers, and $2.10 for show wagers) an extra 9.5 cents can be a heafty price to pay.

The table to the right shows how much breakage can deduct from your payout at different odds levels. From the table, it should be pretty apparent that breakage can have a signifigant impact on your overall earnings when you cash tickets at the track. Breakage amounts to essentially a 'hidden' sales tax you pay at the track that is often downplayed as a minor transaction fee.

One interesting tidbit that you should pick up from the table is that breakage plays no role at all when the posted odds for a horse are listed at 1/9. This is because there's a minimum $2.40 payout for win wagers. At 1/9, the fair payout for a horse is lower than $2.40, but the track is forced to pay the minimum. As a result, breakage doesn't factor in at all. In fact, you should be more wary of playing a horse that's listed at 1/5 than you should playing one at 1/9. To the experienced handicapper, this may not seem logical, but it's the way things work.

The impact of breakage can be even more pronounced in place and show pools. When a heavy favorite finishes in the money, you may have to pay up to 7.9% of the fair payout.

Neutralizing Breakage

Takeout Breakage
None
Nickel
Dime
# Pools Odds Payout Additional Takeout
1
2
3
4
5
6
7
8
9
10
11
12
Total
* - Odds are actually less than
displayed, but there's a 0.2
minimum for Win wagers
Ideally, if you wanted to wipe out the effects of breakage, you'd simply avoid bets where breakage figures to be excessive and play those where its effects are minimal. Unfortunatly, that's not possible. Even with a computer doing all the number crunching for you, there's no way to predict ahead of time how much of an impact breakage will have on a given race.

Instead, you'll need to approach the problem realizing that sometimes it won't affect you and other times, you'll get bitten. Over time, the two should even out and you should be moderately affected by breakage.

You should take into account the effects of breakage before making your wagers realizing that its more pronounced for favorites than longshots, a larger issue in place and show pools, and less of an issue for exotic wagers like exactas and trifectas. You can do this by simply realizing that breakage can essentially add a percent or two to the posted track takeout.

If you want, the calculator to the right can quantify exactly how much breakage is adding to the takeout for any given race (note that the takeout rate is preset for racing in California). It might be a good idea to enter the win pools from a few races into the calculator to get an idea of how much additional takeout you can face when you play a given race. Some handicappers may find the results surprising seeing that they may be paying a few extra percent on the takeout on any given wager. Unfortunatly, trying to use something similar at the track will only cause you headaches because the numbers can change drastically during the course of betting.

Final Notes

Many experienced handicappers have probably noted that takeout rates for exotic wagers are higher than those for conventional WPS wagers. The effects of breakage can partitially explain why tracks can get away with higher takeout rates on exotic wagers. Since these risky wagers generally have very high payouts, breakage generally doesn't figure into the equation. On WPS wagers however, tracks can generally count on breakage adding a hidden percentage or two to their posted takeout rates. It's not something the average handicapper notices when he/she is playing the horses.

Hopefully this article has shown you not to ignore the effects of breakage at the track.


Horse Racing terms




ACROSS THE BOARD: A bet on a horse to win, place and show. If the horse wins, the player collects three ways; if second, two ways; and if third, one way, losing the win and place bets.

BOXED BET: Betting all possible combinations in a multi-horse wager such as exacta or trifecta.

BREAKAGE: In pari-mutuel payoffs which are rounded out to a nickel or dime, those pennies that are left over. Breakage is generally split between the track and state and, in some cases, breeding or other funds, in varying proportions.

BRIDGE JUMPER: A person who bets an unusually large sum on a single horse, like $100,000 to show.
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Refers to the fact that if they lose they may be jumping off the nearest bridge.

DAILY DOUBLE: Type of wager calling for the selection of winners of two consecutive races, usually the first and second.

DEAD HEAT: A tie between two or more horses at the finish of the race. Usually these can be separated by the photo finish camera, but sometimes they are so close you can't.

EXACTA (or PERFECTA): A wager in which the first two finishers in a race, in exact order of finish, must be picked.

FIELD HORSE (or MUTUEL FIELD): Two or more starters running as a single betting unit, when there are more entrants than positions on the totalisator board can accommodate.

IN THE MONEY: Finishing first, second or third.

INQUIRY: Reviewing the race to check into a possible infraction of the rules. Also, a sign flashed by officials on tote board on such occasions.

LOCK: Slang for a "sure thing" winner.

MINUS POOL: A mutuel pool caused when one horse is so heavily played that, after deductions of state tax and commission, there is not enough money left to pay the legally prescribed minimum on each winning bet. The racing association has to make up the difference to pay the minimums.

OBJECTION: Claim of foul lodged by rider, patrol judge or other official. If lodged by official, it is called an inquiry.

ODDS-ON: Odds of less than even money. In England it is simply called "on," thus a horse "5-4 on" is actually at odds of 4-5.

OFFICIAL: Sign displayed when result is confirmed. Also racing official.

ON THE NOSE: Betting a horse to win only.

OVERLAY: A horse going off at a higher price than he appears to warrant based on his past performances.

PARLAY: Using the winnings from one bet to place the next bet.

PHOTO FINISH: A result so close it is necessary to use a finish-line camera to determine order of finish.

PICK SIX (or more): A type of wager in which the winners of all the included races must be selected.

PLACE: Second position at finish.

PLACE BET: Wager on a horse to finish first or second.

QUINELLA: Wager in which first two finishers must be picked, but payoff is made no matter which of the two wins and which runs second.

SHOW: Third position at the finish.

SHOW BET: Wager on a horse to finish in the money; third or better.

STRAIGHT: Betting to win only.

SUPERFECTA: A wager where you have to pick the first four finishers in exact order.

TAKE (or TAKEOUT): Commission deducted from mutuel pools which s shared by the track and local and state governing bodies in the form of tax.

TOUT: Person who professes to have, and sells, advance information on a race.

TRIFECTA (or TRIPLE): A wager picking the first three finishers in exact order.

UNDERLAY: A horse racing at longer odds than he should.

WIN: Cross the finish line first.

WIN BET: Wager on a horse to finish first.
Copyright ©1999 Miles Michelson and the Del Mar Thoroughbred Club. All rights reserved.

[wdjb]

each race has a different payout.depends how much money in the win, place, and show pools. for e.g......if a horse wins, and you bet $10 and the horse pays $5.00...you win...$25.00 you get 5x the payout.same for place and show.does that help?

[rmaciasl]

Originally Posted by wdjb

each race has a different payout.depends how much money in the win, place, and show pools. for e.g......if a horse wins, and you bet $10 and the horse pays $5.00...you win...$25.00 you get 5x the payout.same for place and show.does that help?

im not to dumb lol

i knew that, that thing is i want to know how to claculate the payout for place and show man lol

[rmaciasl]

thanks cheezer