|Written by Jerry Santiago|
Horse betting odds are pretty easy to understand although many people only look at them a few times a year. Many people only wager on the three Triple Crown races, the Kentucky Derby, the Preakness and the Belmont and the Breeders’ Cup. What is forgotten is that horse racing goes on everyday at tracks everywhere.
Horse betting odds are constantly changing as post time approaches and they are exciting to follow. The horse betting odds change because the pool money changes for win place and show wagering on each horse in addition to exacta, trifecta and multi-race exotic pools. A pool is where the total amount of money that is wagered in horsebetting odds is held until the race is over and then winnings are paid after the track takes their cut. The government also receives taxes for allowing the race and there are all kinds of other things that go into the house cut. After the percentage is removed, the remaining money is paid out in horse racing. It is that cut that makes horse racing a tough nut to crack for most people because the house edge is very high. That doesn’t mean you can’t win at horse racing though in the short term and that you can’t find excitement.
Horse betting odds have you seeing odds of 2-1 or 8-1, etc. Winning horse betting odds of 2/1 will pay $6.00 for a $2 bet. Let’s say it was 8-1 and your horse won in horse racing. You would get $18.00 back. That is your $2 back plus the 8-1 times two. As you look at the horse betting odds you will notice that most tracks have a minimum bet of one dollar. That makes horse racing exotic wagers like exactas, trifectas, pick 3’s pick 4’s etc. a cheaper option for most people. For example, a pick three where you wanted to take two horse in the first race, two horses in the second race in horse betting odds and four horses in the third races would cost you $16 ($1 bet 2x2x4). If you did it for $2 that same bet would cost you $32 in horse racing. If you want to win money versus the horse betting odds then playing exotic wagers like the pick three is good value.
Betting favorites on a regular basis is not going to win you money in horse racing so you must look at other types of horse betting odds. That means you want to consider the exotic wagers in horsebetting odds.