Payoffs are calculated by the total pool less the track's commission (called takeout), then divided among all the winning tickets.
What is the payout for a place bet?
Place terms are used to determine the pay-out of your bet. If you place a bet which is EW (1/5, 3 places) and your horse finishes in the top 3, you'll win your bet. The place portion of your bet will pay out at 1/5 of the odds that you took that horse for.
How do you calculate payout on horse bets?
The payoffs on straight win bets are your profit, based on the odds x your stake, plus the return of your stake money. So, a $10 bet on a successful 4-1 shot means you would receive $50 in total - $10 x 4 plus your $10 stake. These basic horse odds are easy to work out.
What is the formula for bet payout?
The math behind calculating payouts on sports bets When the odds are negative, change the number to positive and use this formula: 100/Odds * Stake = Profit. When the odds are positive: Odds/100 * Stake = Profit.
How much does a $2 win place show bet cost?
Win/Place or Place/Show: Simply a combination of win & place or place & show. There are two combinations, so a $2 bet would cost $4 in total.
How do you calculate superfecta payout?
Winnings on a correctly picked Superfecta bet are based on how much you wager and there is no limit. Payoffs are determined by the pari-mutuel system: all the winning tickets share the pool of money collected less the track's commission.