Horse Bet Odds & Payouts for the Racebook

The odds do in fact determine the payout for a winning horse. The ratio of the odds (for instance 7/2) is used to determine how much is paid back for every dollar bet, on top of the bet amount. If a horse has 7/2 odds to win, the payout then ought to be $3.50 for every dollar bet, plus the bet amount. Like wise a horse with 5/1 odds would pay 5 times the bet amount, plus the bet.

These payouts are only paid in relation to the final odds on each runner. The pool size for a given runner doesn't matter, only the amount bet on a horse in total, relative to the amounts bet on the other horses. This is what determines the odds, and thus, the payout as well.

What's important to realize is that the payouts are based only on the final odds. Since the odds are affected by the total amount bet, they can change greatly at the end of betting, as more wagering is done in the last two minutes. If you are confused about a horse not paying out correctly, it's most likely that when you checked, you were not looking at the final odds as posted by the track for that race.

HORSE BET ODDS

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
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