How horse race odds are determined?

Question

Horse racing begtting is one of the most profitable sports betting, most sports punters place bets on horse racing, though horse race betting odds are pretty difficult to understand. I would like to know, in Horse racing begtting what are factors determ

Answer 1

Horse racing odds displayed on the tote are determined by taking the amount of money that has been bet on a given horse  and figuring out what percentage it is of the total money bet on all horses — minus a portion for the track’s take, usually between 10% and 20% of the total. For example, if $1,100 has been placed on all horses, and $375 has been placed on Our Horse to Win, and the track’s percentage is 15%, then we would use the following procedure to calculate the horse racing odds on our stallion: First, we would take out the track’s percentage by multiplying $1,100 by 0.85, winding up with $935. We then take our horse’s bets out of that total by subtracting $375 from $935, ending up with $560. Then, we divide the total remaining bet pool by the amount placed on our horse, so divide $560 by $375, winding up with $1.49. That gets rounded up to $1.50, and our final horse racing odds are 1.5:1, or 3:2.