I need an explanation for Nascar odds betting.?

Question

For example, this weekends race at Fontana has Kyle Busch favored to win at 4-1. Does this mean I need to wager 4 dollars to win 1 dollar?? This makes no sense, PLEASE HELP!!

Answer 1

The odds on nascar is just like the ponies, dogs, elections.. any paramutual wagering

Answer 2

Just the opposite.  

If a driver is listed as 4-1 that means for every $1 you bet, you will get $4 back (plus your original $1) if he wins.

Answer 3

Nope, you'll get 4 for every 1 you wager.  This will help you figure it out in the future.  Convert the odds to a decimal by dividing the top number by the bottom (second) number. Then you can simply multiply that number by the amount you want to bet to find out how much you'll win!  This is much easier when you see odds like 5/7.  In your case it would look like this 4 / 1 = 4 X (amount of wager) = WINNINGS + (amount of wager) = TOTAL RETURN