LOL.... Racing Odds

I just about pee’d myself when I saw the odds for race #39. The best odds for the race was 20:1. The handicapper must think they’ll come out of the gate backwards or something!!!

I’m going to make a fool of myself, but I don’t know how the odds work. What is that a ratio of?

If this is explained somewhere, I can look at that.  :slight_smile:

Don’t worry, I don’t have a clue either! ;D

In Australia (where I live) odds are meant to be how much money you get when you bid on the horse in relation to it’s chance of winning. The shorter the odds the more chance the horse has to win therefore less money when bet. so 20:1 would be $20 to every $1 bet. But also is long odds so it means not a good chance at winning.

The best odds I’ve ever seen on FF is 4:1. The best odds i’ve seen in a race in Australia (real) is $1.50 (1.5:1)

I believe it is still the chance the horse has of winning the race. shorter the odds the better the chance to win. eg: 4:1 is ‘short’ odds 20:1 is long odds; the lower the first number the shorter the odds therefore the better the chance to win; the higher the first number the longer the odds therefore better the chance to lose.

odds are usually calculated for the form the horse has in relation to all other horses in the race overall, over the distance, at the track etc.

so if the best odds was 20:1 all the horses are ‘bad’ for the race by either being not well performed or some other reason so any of them could win. if all the horses are listed 4:1 or 5:1 or some other short odds then they all have the performance record to win therefore the race would be hard to win as they all have a solid chance.

Billsta

n/b: someone correct me if i am wrong  :slight_smile:

To add to that, Handicapers set the morning line (odds for each race) on all horses based on several factors, like the last time raced, track conditions, weather, Jockey and Trainer… there are more but those are the ones I remember… then as the betting starts it influances the odds… the more a horse is bet on the lower the odds… thus the morning line favorite might start at 5-1, but if betting is heavy the best I’ve seen is 5-2 making that horse the odds on favorite… and thus effecting the odds on the rest of the field… (5-2 would mean you’d get a $5 return on every $2 you spent)

I’m still trying to figure RL handicapping out… and since I’m too young to bet… I just follow the Morning line to see how it’s set and how the betting goes, then see if I picked the right horses for the race… it’s fun if you don’t have real money riding on a bet…

anyone who knows more… please feel free to correct me on anything I miss quoted… :slight_smile:

that’s right Dawn,

the stupid thing on betting in real life is the fluctation of the odds. the horse you bet on may have good paying odds in the morning but if too many people bet aswell the odds change and you only get paid what the odds are at the very start of the actual race. if you bet when it is $4.00 (4:1) and the odds change to $1.50 (1.5:1?) then you only get the $1.50 paying bet.

I am a seasoned gambler (I pick the horse, my parents pay) and have managed to pick the winners of the last 7 Melbourne Cups (Australian $5 mill 3.2km G1 if you don’t know). The worst odds i’ve had is a $5.00 and the best (i call worst) was $1.50. one dollar and 50 cents for every dollar bet! That horse was Makybe Diva. she won the race three times in a row.

I’ve noticed from watching races in America while online the many differences in the sport. these include odds, names for the barriers, saddle cloth colours etc. and so far I have not picked a single winner in an American race. I have a good record in Ireland though (5 bets for 2 wins, 2 second, 1 third).

When a fraction is involved (ie 1.50:1) they just go with whatever gets rid of the fraction… so in America a 1.50:1 odd would be shown as 3:2.  The saddle cloth colors in America typically match up with the post position the horse is breaking from, though that’s not always the case.  Don’t all BC horses wear purple?

I was watching the American Oaks today and there was an Aussie horse running as well as a couple of Japanese fillies and the jockeys were saying how they and the horses would have to adjust to the American style of running races.

What exactly varies?  I know Americans are more fond of going around turns and over relatively flat surfaces (no downhill/uphill tracks that I can think of, probably because of our love of dirt).  Do turns tend to even things up as most horses wait until straightening out for home to kick it into high gear?

It took me a while, but I understand now. Thanks for the clarification!  ;D

Wow I thought they meant something entirely different!!! That totaly helped! tnx
~LC

Thats actually not true Billsta  :wink: The odds are a relation to the pay out for $1 but bear no relation to a horses winning chance, only that more people may believe that it will win (This is assuming you are betting on the Tote)

Andy