![]() These basic horse odds are easy to work out. So, a $10 bet on a successful 4-1 shot means you would receive $50 in total - $10 x 4 plus your $10 stake. The payoffs on straight win bets are your profit, based on the odds x your stake, plus the return of your stake money. Horse Betting Win Odds and their Approximate Payoffs The disadvantage is that you may really liked a horse that should have been a long shot, but because it is coupled with a shorty who may go off favorite the odds you get for this horse may be seriously undervalued. This can work to your advantage if, say a horse set to go off at short odds as favorite loses but it’s stable mate wins at least you are paid. When coupled horses have these letters to their name you are betting them all, so if #12F, 13F, 14F are all in the field and you bet 12F but 14F wins, you will still be paid out under the coupling rules. This stands for ‘field’ and is simply another word for ‘entry’ (see our glossary of horse betting terms). On some occasions you will see ‘F’ next to their program number. Different states and territories have different rules on this and in some cases horses are in fact allowed to run as separate entities under their own program number for wagering purposes even when they have the same connections. These are what is known in the game as an ‘entry’ or horses that are ‘coupled’, something that occurs when more than one horse in the field has the same ownership and/or is trained by the same trainer. If however you see #2 and #2A then betting either of these horses means you are essentially wagering on both. Within a pari-mutuel pool, when betting online you will usually see the program number given to a horse and you use this to bet it. The money left over is then shared out between all players holding winning tickets. This is the pari-mutuel system in which all the money is pooled, the ‘take’ is then extracted which is a percentage of the money sort of like a vig which pays track expenses, purse money for the race, taxes and other sundries. The final total at go time takes into account wagers placed everywhere including at simulcast tracks and off-track betting locations. Horse odds are not exact and can be changed as more money is added to the pool and different horses are bet on. A win bet means your horse must win, a place bet means it must finish first or second and a show bet means it must be first, second or third though of course this means a lower payout. The basic types of horse racing bets are of course win, place and show. When getting started with online horse betting, there are two thing you must know: what types of horse bets are there and how to calculate what each bet will cost you and what your potential payoff could be.
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