|
Pari-mutuel wagering: each bettor is wagering against all the others making the same type of bet.
Pari-mutuel means that bets by race fans go into a common pool, which
is then distributed to the winning ticket-holders after the track's
takeout for the race's purse, taxes, and track profits, is subtracted.
The more fans holding a winning ticket, the less the pay-out will be.
This spawned the term "favorite", which is used to describe the horse
that has taken the most money. However, favorites win only about 30
percent of the time. It makes sense for the bettor to study the program
with the day's racing information before making a pick.
Picking winners at the track is one of the most fun
and exciting forms of entertainment around, as long as you bet with
your head. Those who want to minimize betting risk should stick to less
aggressive bets. Those looking to "hit the big one" usually opt for the
exotic wagers, such as a trifecta or a pick three. All bets can be fun
and profitable if managed correctly. Like playing the stock market, the
key words are money management, performance, and value. Use the section
below to aid your understanding of betting terminology and rules.
Approximate Payoff for a $2 Win Bet
| Odds |
Pays
|
Odds
|
Pays
|
|
1-9
|
$2.20
|
2-1
|
$6.00
|
|
1-5
|
$2.40
|
5-2
|
$7.00
|
|
2-5
|
$2.80
|
3-1
|
$8.00
|
|
1-2
|
$3.00
|
7-2
|
$9.00
|
|
3-5
|
$3.20
|
4-1
|
$10.00
|
|
4-5
|
$3.60
|
9-2
|
$11.00
|
|
1-1
|
$4.00
|
5-1
|
$12.00
|
|
6-5
|
$4.40
|
6-1
|
$14.00
|
|
7-5
|
$4.80
|
7-1
|
$16.00
|
|
3-2
|
$5.00
|
8-1
|
$18.00
|
|
8-5
|
$5.20
|
9-1
|
$20.00
|
|
9-5
|
$5.60
|
10-1
|
$22.00
|
|
|
