Maybe I should be more clearer but if I put 50 on a horse and he paid 6.80 to win. How much would I NET?

Question

I know i get back $170, would I get back $220? My original $50, would that get subtracted out of the $170 for my net profit or $220. Hopefully someone can understand my question. Thanks and hope there are some good comments.

Answer 1

you cash your ticket for $170

you NET or made $120

Answer 2

Racetrack bets are always listed as the total amount the ticket is worth from a $2.00 bet.   So, a payoff of $6.80 means the ticket would now be worth $6.80... meaning a net of $4.80.

To arrive at it mathematically do this:

1) Divide the amount you bet by $2.00.  ($50.00 / 2 = $25.00)

2) Multiply your answer by the payoff, in this case $6.80.  ($25.00 x $6.80 = $170.00)

Your ticket is worth $170.00.

3) Subtract the amount you risked ($50.00) from the amount your ticket is worth, to arrive at your net.  ($170.00 - $50.00 = $120.00)

Nice race today, by the way.  Congrats.