It’s surprising at how many people make bets on horse races without the slightest understanding of the tote board. While all of those numbers on the board may seem imposing, the odds and payoffs are actually pretty easy to learn. And by doing so, you will be able to make and calculate better bets.

Reading the Win Odds

The easiest information on the board is the win odds quoted on each horse. They don’t tell you what the horse will pay, but the amount of profit you will get and the amount you have to bet to get it. For example, 6-5 means you will get $6 in profit for every $5 you wager, while 20-1 means you get $20 in profit for every $1 you wager. In the latter example, a bet of $2 means you would get $42 back for a winning wager.

Payoffs use the actual odds and are rounded down to the nearest nickel or dime, depending on the rules at that track. This rounding is called breakage.

Calculating the Win Odds on a Horse

If you want to calculate the exact win odds on a horse, you will need to use a couple of other figures from the tote board:

Total win poolAmount bet on that horse

The total pool is all the money bet on all the horses to win, but it is not the amount that will actually be paid out to the holders of winning tickets. Before the track pays off the winners, they deduct the “take,” which is generally between 14 and 20 percent and is different in every state. This money goes to pay state and local taxes, payment for the horsemen, expenses at the track, and the track’s profit.

To calculate the exact odds on your horse, just subtract the take from the total pool, then subtract the amount bet on your horse to give you the amount of cash to be paid out.

Divide that figure by the amount bet on your horse to get the exact odds. This figure will always be rounded off to the nearest dime (usually) or nickel, as mentioned previously, before the payoffs are calculated. Here is a simple example of win odds calculation:

Total pool: $900Amount bet on horse No. 1: $300Take amount: 15 percent$900 minus 15 percent equals $765$765 minus $300 equals $465$465 divided by $300 equals $1.55

Round this amount off to $1.50 for breakage and you get odds of 1.5-1 or 3-2, as it would normally be written, which yields a payoff of $5 on a wager of $2.

Payoffs for $2 Win Bets

Since most tracks have a $2 minimum bet, below is a handy chart to look up the payoff for a $2 bet at various odds. Remember, your actual payoff may differ from this chart, as the odds on the tote board are rounded off, so 2-1 odds on the tote board may actually be 1.9-1 or 2.2-1. 

ODDS PAYS

ODDS PAYS

ODDS PAYS

1-5 $2.40

8-5 $5.20

6-1 $14.00

2-5 $2.80

9-5 $5.60

7-1 $16.00

1-2 $3.00

2-1 $6.00

8-1 $18.00

3-5 $3.20

5-2 $7.00

9-1 $20.00

4-5 $3.60

3-1 $8.00

10-1 $22.00

1-1 $4.00

7-2 $9.00

15-1 $32.00

6-5 $4.40

4-1 $10.00

20-1 $42.00

7-5 $4.80

9-2 $11.00

30-1 $62.00

3-2 $5.00

5-1 $12.00

50-1 $102.00

Horse Betting: Types and Terms

Sports Betting: How to Bet Parlays

Golf Tournament Formats, Side Games and Golf Bets

What Lottery Pools Are and How They Work

Lottery Pool Contracts: 10 Questions to Ask in Advance

Craps 3-4-5 Times Odds

Craps Place Bets

Why Sports Betting Is Profitable

How to Play Free Bet Blackjack

NFL Point Differential Betting System

House Edge For Craps Bets

A Formula for Tabulating Lumber for Sawmills

What Is Earnings Per Share or EPS?

The Top 15 Most Useful Retail Math Formulas

Retailer’s Financial Dictionary

Which Casino Games Have the Best (and Worst) Odds?

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LiveAbout is part of the Dotdash Meredith publishing family.

When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. Cookies collect information about your preferences and your devices and are used to make the site work as you expect it to, to understand how you interact with the site, and to show advertisements that are targeted to your interests. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. Cookies Settings Reject All Accept Cookies

It’s surprising at how many people make bets on horse races without the slightest understanding of the tote board. While all of those numbers on the board may seem imposing, the odds and payoffs are actually pretty easy to learn. And by doing so, you will be able to make and calculate better bets.

Reading the Win Odds

The easiest information on the board is the win odds quoted on each horse. They don’t tell you what the horse will pay, but the amount of profit you will get and the amount you have to bet to get it. For example, 6-5 means you will get $6 in profit for every $5 you wager, while 20-1 means you get $20 in profit for every $1 you wager. In the latter example, a bet of $2 means you would get $42 back for a winning wager.

Payoffs use the actual odds and are rounded down to the nearest nickel or dime, depending on the rules at that track. This rounding is called breakage.

Calculating the Win Odds on a Horse

If you want to calculate the exact win odds on a horse, you will need to use a couple of other figures from the tote board:

Total win poolAmount bet on that horse

The total pool is all the money bet on all the horses to win, but it is not the amount that will actually be paid out to the holders of winning tickets. Before the track pays off the winners, they deduct the “take,” which is generally between 14 and 20 percent and is different in every state. This money goes to pay state and local taxes, payment for the horsemen, expenses at the track, and the track’s profit.

To calculate the exact odds on your horse, just subtract the take from the total pool, then subtract the amount bet on your horse to give you the amount of cash to be paid out.

Divide that figure by the amount bet on your horse to get the exact odds. This figure will always be rounded off to the nearest dime (usually) or nickel, as mentioned previously, before the payoffs are calculated. Here is a simple example of win odds calculation:

Total pool: $900Amount bet on horse No. 1: $300Take amount: 15 percent$900 minus 15 percent equals $765$765 minus $300 equals $465$465 divided by $300 equals $1.55

Round this amount off to $1.50 for breakage and you get odds of 1.5-1 or 3-2, as it would normally be written, which yields a payoff of $5 on a wager of $2.

Payoffs for $2 Win Bets

Since most tracks have a $2 minimum bet, below is a handy chart to look up the payoff for a $2 bet at various odds. Remember, your actual payoff may differ from this chart, as the odds on the tote board are rounded off, so 2-1 odds on the tote board may actually be 1.9-1 or 2.2-1. 

ODDS PAYS

ODDS PAYS

ODDS PAYS

1-5 $2.40

8-5 $5.20

6-1 $14.00

2-5 $2.80

9-5 $5.60

7-1 $16.00

1-2 $3.00

2-1 $6.00

8-1 $18.00

3-5 $3.20

5-2 $7.00

9-1 $20.00

4-5 $3.60

3-1 $8.00

10-1 $22.00

1-1 $4.00

7-2 $9.00

15-1 $32.00

6-5 $4.40

4-1 $10.00

20-1 $42.00

7-5 $4.80

9-2 $11.00

30-1 $62.00

3-2 $5.00

5-1 $12.00

50-1 $102.00

Horse Betting: Types and Terms

Sports Betting: How to Bet Parlays

Golf Tournament Formats, Side Games and Golf Bets

What Lottery Pools Are and How They Work

Lottery Pool Contracts: 10 Questions to Ask in Advance

Craps 3-4-5 Times Odds

Craps Place Bets

Why Sports Betting Is Profitable

How to Play Free Bet Blackjack

NFL Point Differential Betting System

House Edge For Craps Bets

A Formula for Tabulating Lumber for Sawmills

What Is Earnings Per Share or EPS?

The Top 15 Most Useful Retail Math Formulas

Retailer’s Financial Dictionary

Which Casino Games Have the Best (and Worst) Odds?

When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. Cookies collect information about your preferences and your devices and are used to make the site work as you expect it to, to understand how you interact with the site, and to show advertisements that are targeted to your interests. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. Cookies Settings Reject All Accept Cookies

It’s surprising at how many people make bets on horse races without the slightest understanding of the tote board. While all of those numbers on the board may seem imposing, the odds and payoffs are actually pretty easy to learn. And by doing so, you will be able to make and calculate better bets.

Reading the Win Odds

The easiest information on the board is the win odds quoted on each horse. They don’t tell you what the horse will pay, but the amount of profit you will get and the amount you have to bet to get it. For example, 6-5 means you will get $6 in profit for every $5 you wager, while 20-1 means you get $20 in profit for every $1 you wager. In the latter example, a bet of $2 means you would get $42 back for a winning wager.

Payoffs use the actual odds and are rounded down to the nearest nickel or dime, depending on the rules at that track. This rounding is called breakage.

Calculating the Win Odds on a Horse

If you want to calculate the exact win odds on a horse, you will need to use a couple of other figures from the tote board:

Total win poolAmount bet on that horse

The total pool is all the money bet on all the horses to win, but it is not the amount that will actually be paid out to the holders of winning tickets. Before the track pays off the winners, they deduct the “take,” which is generally between 14 and 20 percent and is different in every state. This money goes to pay state and local taxes, payment for the horsemen, expenses at the track, and the track’s profit.

To calculate the exact odds on your horse, just subtract the take from the total pool, then subtract the amount bet on your horse to give you the amount of cash to be paid out.

Divide that figure by the amount bet on your horse to get the exact odds. This figure will always be rounded off to the nearest dime (usually) or nickel, as mentioned previously, before the payoffs are calculated. Here is a simple example of win odds calculation:

Total pool: $900Amount bet on horse No. 1: $300Take amount: 15 percent$900 minus 15 percent equals $765$765 minus $300 equals $465$465 divided by $300 equals $1.55

Round this amount off to $1.50 for breakage and you get odds of 1.5-1 or 3-2, as it would normally be written, which yields a payoff of $5 on a wager of $2.

Payoffs for $2 Win Bets

Since most tracks have a $2 minimum bet, below is a handy chart to look up the payoff for a $2 bet at various odds. Remember, your actual payoff may differ from this chart, as the odds on the tote board are rounded off, so 2-1 odds on the tote board may actually be 1.9-1 or 2.2-1. 

ODDS PAYS

ODDS PAYS

ODDS PAYS

1-5 $2.40

8-5 $5.20

6-1 $14.00

2-5 $2.80

9-5 $5.60

7-1 $16.00

1-2 $3.00

2-1 $6.00

8-1 $18.00

3-5 $3.20

5-2 $7.00

9-1 $20.00

4-5 $3.60

3-1 $8.00

10-1 $22.00

1-1 $4.00

7-2 $9.00

15-1 $32.00

6-5 $4.40

4-1 $10.00

20-1 $42.00

7-5 $4.80

9-2 $11.00

30-1 $62.00

3-2 $5.00

5-1 $12.00

50-1 $102.00

It’s surprising at how many people make bets on horse races without the slightest understanding of the tote board. While all of those numbers on the board may seem imposing, the odds and payoffs are actually pretty easy to learn. And by doing so, you will be able to make and calculate better bets.

Reading the Win Odds

The easiest information on the board is the win odds quoted on each horse. They don’t tell you what the horse will pay, but the amount of profit you will get and the amount you have to bet to get it. For example, 6-5 means you will get $6 in profit for every $5 you wager, while 20-1 means you get $20 in profit for every $1 you wager. In the latter example, a bet of $2 means you would get $42 back for a winning wager.

Payoffs use the actual odds and are rounded down to the nearest nickel or dime, depending on the rules at that track. This rounding is called breakage.

Calculating the Win Odds on a Horse

If you want to calculate the exact win odds on a horse, you will need to use a couple of other figures from the tote board:

  • Total win poolAmount bet on that horse

The total pool is all the money bet on all the horses to win, but it is not the amount that will actually be paid out to the holders of winning tickets. Before the track pays off the winners, they deduct the “take,” which is generally between 14 and 20 percent and is different in every state. This money goes to pay state and local taxes, payment for the horsemen, expenses at the track, and the track’s profit.

To calculate the exact odds on your horse, just subtract the take from the total pool, then subtract the amount bet on your horse to give you the amount of cash to be paid out.

Divide that figure by the amount bet on your horse to get the exact odds. This figure will always be rounded off to the nearest dime (usually) or nickel, as mentioned previously, before the payoffs are calculated. Here is a simple example of win odds calculation:

Total pool: $900Amount bet on horse No. 1: $300Take amount: 15 percent$900 minus 15 percent equals $765$765 minus $300 equals $465$465 divided by $300 equals $1.55

Round this amount off to $1.50 for breakage and you get odds of 1.5-1 or 3-2, as it would normally be written, which yields a payoff of $5 on a wager of $2.

Payoffs for $2 Win Bets

Since most tracks have a $2 minimum bet, below is a handy chart to look up the payoff for a $2 bet at various odds. Remember, your actual payoff may differ from this chart, as the odds on the tote board are rounded off, so 2-1 odds on the tote board may actually be 1.9-1 or 2.2-1. 

ODDS PAYS

ODDS PAYS

ODDS PAYS

1-5 $2.40

8-5 $5.20

6-1 $14.00

2-5 $2.80

9-5 $5.60

7-1 $16.00

1-2 $3.00

2-1 $6.00

8-1 $18.00

3-5 $3.20

5-2 $7.00

9-1 $20.00

4-5 $3.60

3-1 $8.00

10-1 $22.00

1-1 $4.00

7-2 $9.00

15-1 $32.00

6-5 $4.40

4-1 $10.00

20-1 $42.00

7-5 $4.80

9-2 $11.00

30-1 $62.00

3-2 $5.00

5-1 $12.00

50-1 $102.00

  • Horse Betting: Types and Terms

  • Sports Betting: How to Bet Parlays

  • Golf Tournament Formats, Side Games and Golf Bets

  • What Lottery Pools Are and How They Work

  • Lottery Pool Contracts: 10 Questions to Ask in Advance

  • Craps 3-4-5 Times Odds

  • Craps Place Bets

  • Why Sports Betting Is Profitable

  • How to Play Free Bet Blackjack

  • NFL Point Differential Betting System

  • House Edge For Craps Bets

  • A Formula for Tabulating Lumber for Sawmills

  • What Is Earnings Per Share or EPS?

  • The Top 15 Most Useful Retail Math Formulas

  • Retailer’s Financial Dictionary

  • Which Casino Games Have the Best (and Worst) Odds?

Horse Betting: Types and Terms

Horse Betting: Types and Terms

Sports Betting: How to Bet Parlays

Sports Betting: How to Bet Parlays

Golf Tournament Formats, Side Games and Golf Bets

Golf Tournament Formats, Side Games and Golf Bets

What Lottery Pools Are and How They Work

What Lottery Pools Are and How They Work

Lottery Pool Contracts: 10 Questions to Ask in Advance

Lottery Pool Contracts: 10 Questions to Ask in Advance

Craps 3-4-5 Times Odds

Craps 3-4-5 Times Odds

Craps Place Bets

Craps Place Bets

Why Sports Betting Is Profitable

Why Sports Betting Is Profitable

How to Play Free Bet Blackjack

How to Play Free Bet Blackjack

NFL Point Differential Betting System

NFL Point Differential Betting System

House Edge For Craps Bets

House Edge For Craps Bets

A Formula for Tabulating Lumber for Sawmills

A Formula for Tabulating Lumber for Sawmills

What Is Earnings Per Share or EPS?

What Is Earnings Per Share or EPS?

The Top 15 Most Useful Retail Math Formulas

The Top 15 Most Useful Retail Math Formulas

Retailer’s Financial Dictionary

Retailer’s Financial Dictionary

Which Casino Games Have the Best (and Worst) Odds?

Which Casino Games Have the Best (and Worst) Odds?

Home

Entertainment

Careers

Activities

Humor

About Us Advertise Careers Privacy Policy Editorial Guidelines Contact Terms of Use EU Privacy

LiveAbout is part of the Dotdash Meredith publishing family.

Home

Home

Entertainment

Careers

Activities

Humor

About Us Advertise Careers Privacy Policy Editorial Guidelines Contact Terms of Use EU Privacy

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  • Careers

  • Privacy Policy

  • Editorial Guidelines

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  • Terms of Use

  • EU Privacy

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  • Careers

  • Activities

  • Humor

LiveAbout is part of the Dotdash Meredith publishing family.

When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. Cookies collect information about your preferences and your devices and are used to make the site work as you expect it to, to understand how you interact with the site, and to show advertisements that are targeted to your interests. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. Cookies Settings Reject All Accept Cookies