How to Calculate Horse Racing Betting Odds and Payoffs

It’s surprising at the number of men and women make bets on horse races without the slightest understanding of the tote board. While all those numbers on the board may seem imposing, the odds and payoffs are now pretty easy to learn. And by doing this, you will be able to create and compute better bets.
Reading the Win Odds
The easiest advice about the board is the triumph odds quoted on each horse. They don’t let you know exactly what the horse will pay, but the amount of gain you will get and the amount you need to bet to get it.
For example, 6-5 means you’ll get $6 per profit for each $5 you wager, while 20-1 means you receive $20 in profit for every $1 you wager. In the latter case, a wager of $2 means you would get $42 back for a winning wager.
Payoffs use the actual odds and are rounded down to the nearest nickel or dime, depending on the rules at that path. This rounding is called breakage.

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