By Laura Hills
Customizer → Monetisation → in_article
Understanding how to calculate odds and payoffs in horse
betting can help you build a solid wagering strategy. As more bets are placed,
odds and payoffs should change to keep the scale balanced. Here are some tips
and formulas to help you figure out the odds in horse racing.
Check the tote board and find out how much money has been
bet on each horse and the total bets on the race. The odds of a horse winning
are calculated as a total bet on a specific horse to win or a total bet on all
horses. In order to determine the payoff to win, you can use the following
formula
[(Bet * First number of the odds) + (Bet * Second number in
the odds)] / The second number in the odds.
For example, if the winning horse’s odds were 5 to 2 and
your player’s bet on it to win was $10, then your formula should look something
like this: [($10 * 5) + ($10 * 2)] / 2 = [50 + 20] / 2 = 70 / 2 = $35.
You can figure out the payoff to place by taking the total
place pool , dividing it by two, and dividing the result by the total bet on
the specific horse to place. Multiply that by the amount wagered to get the
payoff to place. For example, if there are $500 in total place bets and there
is a $100 bet on horse number 1 to place, then your formula would look like
this: ($500/2) /$100 = $250/$100 = $2.50.
If your bettor places a two dollar bet on a horse, you
multiply the $2.50 by two to figure out the payoff amount. In this case, you
would end up paying the bettor $5 ($2 * $2.50) on a $2 bet.
The show pool payoff can be calculated in a similar fashion
by dividing the total amount in the pool by three, then dividing that by the
total bet on a specific horse. Next, multiply the result by the amount of the
bet and that will give you the show payoff. For example, if there is a $1200
pool and $200 bet on a specific horse to show, a two-dollar bet on horse number
one would look like this: ($1200/3) / $200 = $400/$200 = 2. Then, this is
multiplied by the bet placed on horse number one, hence 2 * $2 = $4 payoff.
Price per Head software is able to carry out these
operations for any number of players and spread out results for further
analysis. Price per Head’s goal is to provide the local entrepreneur with all
the tools he needs to succeed in the bookmaking industry, offering infinite
possibilities for business, including all types of sporting events as well as
full-fledged online casinos, web hosting and design, call center software and
outsourcing.
Laura Hills