Get your own Free Home PagePari-Mutuel is a betting pool in which those who bet on the outcome of the race share the total amount bet minus a percentage for the management. In Horse Racing the standard outcome to bet on is win, place and show. These pools are active in just about every race run in North America. A harder outcome to predict, the Exacta, is also available in just about every race. In the Exacta pool, you predict the winner and the second place horse in exact order. There are many other variations of outcomes to wager on, but they are not offered in all races and some are only available at specific tracks:
Quinella, Trifecta, Superfecta, Daily Double, Pick 3, Pick 6, Odd-Even, Place-Pick-9...
In all cases the calculation of the payout is the same, the more people who bet on the actual outcome, the less money money returned to the winners. The payout of all wagers is usually expressed in return on $2 wager and is calculated as follows:
total_returned = total_bet * ( 1 - take_out )
pay = ( total_returned - bet[i] ) / bet[i]
| Horse | 1 | 2 | 3 | 4 | 5 | 6 | ||
| Total | Odds | |||||||
| Win | 1000 | 2000 | 3000 | 2000 | 4000 | 1000 | ||
| Place | ||||||||
| Show |
Effects of Breakage
IRS Tickets
Takeout Reduction Studies
Current Takeout Rates
Simulations
Information Theory
Money Management
Hedging a Negative Pool
Track Statistics
Average Field Size
Average Pays
Internet Data
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