How do horse racing determine?
The chances of horse racing are determined by means of a formula that takes into account the total amount of money that has been set on the race, the amount that has been set on every horse, and the percentage of money that keeps the track or off the track. Before no bets were established, the chances are based on the participant's estimation in accordance with the percentage of the overall betting pool, which will be set on every horse; These chances are often referred to as morning lines. Once the bets are placed and the calculations are performed, the chances may change if the estimates of the oddsmaker were not accurate. Unlike many other forms of planting, payouts at horse races are usually based on the final chances for each horse than the chance that Bettor received during betting. For example, someone could bet on horses when there are chances of 4-1, but if it is likely that the horse is 2-1, when the race starts, Bettor wins only half as much money as he would have if they had no changed chances.
Pari-Mutuel Betting
The type of betting, which is performed at most horse races, is called Pari-Mutuel. The name comes from French words for a "mutual share" and reflects the fact that all Bettors compete against each other for the same money fund. When planting Pari-Mutuel, the chances are determined by the bets that have been placed. Business that has received bets maintains part of the money - often called "Take" or "Crake" and usually 10 to 20% - to pay for expenses and taxes and still make profits. The rest of the money is then paid out by the winning Bettors.
An example of a five horses race
Calculation of horse racing courses is quite simple. An example may be shown by a five-horsepower race on which a total of $ 1,000 (USD)-300 USD on one horse, $ 250, $ 200, $ 200 for the third, USD $ 150 to the fourth and USD $ 100 at the last. If the song is 15%, all Bettors compete for the remaining $ 850. TruthObtain for each horse is calculated by deducting the bet on the amount on horseback from the available paycheck - $ 850, in this case - and the division of this number into this horse. The result is then rounded down if necessary.
In this example, a horse on which the most money was bet-"favorite"-with a chance of 9-5. Starting with a $ 850 paycheck and a USD of USD, which was bet on the horse, leaves $ 550 in potential heating for people who bet on the horse. The $ 300 USD is $ 300 distribution, which is rounded to 1.8. The courses are expressed in integers, so 1.8 is converted to 9-5 chances. This means that Bettor would win $ 9 for every $ 5 to bet. Bettor also received the amount or Hello or its original bet, so the total pay for the winning bet of $ 5 would be $ 14 in this case.
The same mathematics is used to calculate probability for other horses. The second favorite should have $ 12-5 courses-$ 850 USD minus $ 250 is $ 600, divided by 2$ 50 is 2.4. The last three horses would have a chance of 13-4, 14-3 and 15-2, based on the same calculations.
Payout
Regardless of which horse wins, the track will pay about the same amount. Rounding of chances down, if necessary, can result in a little less money, depending on which horse wins. In this example, only $ 840 will be paid if the favorite wins and $ 850 will be paid if any other horse wins. If a 15-2 long shot in this example ended in winning the race, the track would return $ 100, which was set on the horse Bettors, and would give them a total of $-15 in winning each $ 2 they bet.
place, show and other bets
In addition to horses, many types of betting can be placed in addition to horses. In North America, for example, people can also bet on horses to "place" or "show". When the horse ends first or second, the bet wins the place and the bet on the show wins when the first, second, the secondor the third. In addition, bets on various combinations of horses and their order are completed. This is called exotic bets.
as well as betting on victory, the chance of other types of betting is calculated on the basis of the same factors - the total bet on the amount, takeover and the amount for each horse. When the payout for a particular type of bet is divided among more than Bettors of one horse, such as the first three horses for the show on the show, the payout fund must be divided by this number. For example, a payout for the show on the show, also called Show Show, must be divided by three before the chances of every horse are calculated. Calculation of courses for other exotic bets can be quite complicated and include a combination of different chances.