How do they determine how much $ you win on a horse race.?

Question

I went to the horse races today and won $17 but i saw some people win more. how do they determine that? they said it was something about the odds but i didnt get it.

Answer 1

odds

1-1==50.00 percent

2-1=33.33percent

5-2==28.57

7-2==22.23

9-2==18.19percent

etcI will name them all if you want But its allot of typing

edit if you want me to do it for you ok ..

Answer 2

Say that Seabiscuit has odds like 5:1

And then, say that Barbaro has the odds of 2:1.  So basically, Barbaro is the better horse, and in a race against Seabiscuit, based on their odds, Barbaro should win. Right?  Not nessescarily...

Say that you put down $2 on Barbaro.  If Barbaro wins, you would get  something like $6... (2 x $2+$2) This is because even though Barbaro is the better horse, you will earn less money per dollar on him, because it is already predicted that he will win.

Say that your friend puts down $2 on Seabiscuit, and he wins. Your friend would earn something like $12 (5 x 2+2) ... This is because he is the worse horse, and LESS likely to win, and if he does, he will pay more, because it is unlikely that he will win. Unfortunately, the problem is that if you bet a horse on the worse horse, he will pay more if he wins, but he is also less lkely to win.

So, really, to make more money, you have to either get really lucky putting down less money on a bad horse, and have him miraculously win, or put down more money on a better horse.  

For more explanation, see this site...

http://www.ultimatecapper.com/tote-board...