One of the most important aspects that horse racing bettors must understand before making a wager is the odds.
The odds are essential, as it will tell the gambler how much they are likely to get in returns for their winning wagers. This article will explain the most common odds and how gamblers can easily understand them.
Read on to find out exactly what horse racing odds mean:
How To Read Horse Racing Odds
Reading horse racing odds isn’t as complicated as many believe. All horses involved in a race will have determined odds, with the horses with shorter prices having a more likely chance of winning.
That means that a horse with 1/1 (2.0/+100) odds will have a better chance of winning a race than a horse with 10/1 (11.0/+1000) odds.
Of course, the odds only indicate the way that a race may go, as there have been a huge number of winners to win the most prestigious races with much higher odds.
What Does 3 To 1 Odds Mean?
The market favourites will typically have very short odds, and 3/1 is typically a price for a well-backed runner. The American layout for these odds is +300, while a decimal layout will be 4.0.
It is straightforward enough to understand using any of the layouts. For example, a $10 wager on odds of 3/1 will see potential returns of $40.
Gamblers will get $30 of that from the 3/1 odds that they have bet on, while they will also get the $10 stake that they wagered.
What Does 5 To 2 Odds Mean?
The odds do get slightly more confusing when there isn’t a one on the right-hand side of the price.
However, they are still very clear to work out. For selections at these odds, the gambler is effectively betting on odds of 3.5 in decimal form and +250 in American. A winning selection on this bet will return $35 from a $10 wager.
What Does 7 To 2 Odds Mean?
Once again, the two on the right-hand side will confuse many, but it is still easy to work out. The fractional odds layout of 7/2 is 4.5 in decimal and +350 in American.
A $10 wager on a selection with these odds will return $45 in winnings should the selection be correct.
What Does 9 To 2 Odds Mean?
This layout works out in the same way as the two layouts that we have mentioned above.
The odds are effectively 4.5/1. The American odds can be seen as +450, while the decimal odds will be seen as 5.5. Returns at these odds are the same across the board, with a $10 winning wager returning $55.
What Does 10 To 1 Odds Mean?
Depending on the race that you’re betting on, 10/1 may seem like a high price. Races with big fields will see gamblers more intrigued by a 10/1 selection, while these odds in smaller fields will put off gamblers.
The decimal layout of these odds is 11.0, while the American layout is +1000. Gamblers making a $10 wager on these odds will get $110 in returns. Those returns include the $10 stake that has been wagered.
How to Determine Odds in Horse Racing
There are a number of factors that are taken into account by the bookmakers when they decide on odds for the selections in the race. Horses that are in excellent form that have won several high profile races will have shorter odds as they are more proven.
Meanwhile, higher-calibre of trainers and jockeys will likely ride horses with shorter prices. The horse’s bloodline is also taken into account, as the children of legendary horses with strong pedigree will be expected to have a better chance of winning the biggest races.
Gamblers must also be aware that the odds are subject to change, which means that a horse with a price of 30/1 in the ante-post market may be slashed to 10/1 closer to the race.
Market movers is an excellent insight for gamblers, as it shows them where the money is going and which horses may have an excellent chance of winning. Finding the best time to play a bet is an essential factor that should be taken into account, as you will want to get the best possible odds for your selection.