In Racing, We Don't Set The Odds - You Do (Well, to Some Extent).

Odds are determined by the total money wagered on each horse, and fluctuate until race time. The favorite horse isn’t necessarily the best – it just has the most money wagered on it. Historically, favorites win only one-third of the time.

How odds work

How odds work

Odds are a reflection of what a ‘win bet’ will pay on any given horse. Unlike other sports where odds are fixed, racing odds fluctuate with every wager placed. Players receive the final odds on a given horse.
The morning line

The morning line

The morning line, found in the program, is a projection of the final odds once all wagers have been placed. The morning line has no impact on the actual odds, but some use it to gauge if their horse is a “value”.
Where to find the odds

Where to find the odds

Current odds can be found many places in the racetrack, including the toteboard in the infield and on TV screens throughout the racetrack.

Odd & Payouts

Odds are displayed as whole numbers or fractions, and indicate the expected profit for every one dollar bet to win on a given horse. The total returned to a winner includes the profit plus original amount bet. Here’s a chart showing the expected payouts on a $2 Win bet.

Expected payouts $2

Win Bet

  • 4-5$3.60
  • 1$4
  • 6-5$4.40
  • 7-5$4.80
  • 3-2$5
  • 8-5$5.20
  • 9-5$5.60
  • 2$6
  • 5-2$7
  • 3$8
  • 7-2$9
  • 4$10
  • 9-2$11
  • 5$12
  • 8$18
  • 30$62
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