How's the calculation for horse racing??
Thanks!
Thanks!
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Can you explain a little more about this, andrea? What do you mean?
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I'm assuming he is talking about payouts? Every bet goes into a pool of money and then the track takes a percentage out generally 25% or so for exotics and 17% or so for w/p/s then they distribute whats left to those holding winning tickets........... example 500 people bet $1 exacts 500 goes into the pool the track takes their cut 25% which is $125 $375 is left in the pool of the 500 $1 exactas 25 win 375/25 payout would be $17 per $1 ticketComment -
hmm.. Horse racing. pretty complicated to calculate if you have no idea what the figures are. Bottomline is, your winnings will depend on the net pool.Comment -
Thanks for replies, anyway what is net pool? Sorry for being unawareness with
the horse racing thing..
I would appreciate any answers..
Thanks!Comment -
Every dollar you bet goes into a pool minus the tracks takeout as I described in my example aboveComment -
Most tracks offer "Will pays" for exactas as the money comes in on each bet so you can know beforehand what you will win on a given excacta however trifecta, superfecta, place, show etc are toss ups if you are familiar with it you can often guess your payout but sometimes you will be extremely surprised. My biggest single horsepayout was $3500 fora $1 triple and I only thought it would pay around a grandComment -
do they take out the tracks cut before or after you cash the ticket. If you win 1000 does the 17% come out of that leaving you with 830 or is that already factored in and 1000 is all yours,
interesting thread , i have always been interested in horses never got around to playingComment -
if you win $1000, you receive $1000. The "rake" is taken before the prices are posted.Comment -
Thank you all..
Anyways, I placed my bet on win/pool. Does this mean that half of my stake was placed on WIN and the
other half was on pool right?
Correct me if I'm wrong....Comment -
It is the win pool - one thing, not two.
Win, place and show are all separate pools.
Here's some bedtime reading for you - http://en.wikipedia.org/wiki/Parimutuel_bettingComment -
You see, this is why horse racing, while I love the sport, is really on it's death bed. Wagers are too tough to understand for the masses, who then get ticked off when they bet a horse at 5-1 and goes off at 2-1 and wonder why they don't get 5-1 payout.
Anyways, to answer your question Karla... there are 3 basic pools. WIN, PLACE and SHOW. They are not interconnected, they are seperate pools with seperate amounts of money in them. The payouts are usually higher for WIN because the horse you picked in the WIN pool has to come first, therefore less people for the track to pay. Next is PLACE, where the payouts are less because the horse you picked can come in either first or second, so there is more players for the track to pay. Finally, there is a SHOW pool, which means you win if your horse comes 1st, 2nd or 3rd... now this pays pretty low because there are alot of players the track has to pay.Comment -
Its well worth learning horse racing it cost me about 40k and months of my life to even "start" to get a clue but it has been a fun ride and I love playing the ponies even though I still lose more than i win most of the timeComment -
Would have placed over-racing (quantity not quality), poor stewardship, repeatedly allowing trainers to get a slap on the wrist for drug infractions and petty fighting over broadcast and wagering rights as much bigger problems.
The concept of the tote or pari-mutuel pool is quiite simple unless you've got into betting another way - eg poker or sports, which then confuses the issue.Comment -
My apologies, it's WIN/PLACE rather..
Didn't notice I got it wrong...
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