Horse racing is widely popular all over the world, and it is the most bet on game, large wagers change hands every day on the sport. The horses that race are all what we call throuhgbreds, that means they are born for this sport all out of good stock. The sport itself derives when two or more of these horses ridden by jockeys "professional and amature" compete against each other on who is going to be first past the winning post.
Those that are watching this race then put a bet or wager on who will be first past the post, they will bet also on who will come in second or third.
What you will usually hear in this betting game is the term horse racing odds. If you follow racing, these terms are easy to understand but if you are a newcomer to the sport it can be a bit difficult to pick up.
Horse racing odds refers to the probability of which horse will come first in that race is shown on a tote board. The tote board shows the odds that are based on the amount of money you will win in relation to the wager that you put on.
How these odds are worked out is determined by deducting the amount of bet and its percentage in the total amount of money that was bet on the horses less a portion of the tracks fee which is estimated to be between 10-20 percent of the sum total.
Now if you find it difficult in reading a tote board, you can follow this simple procedure in computing the odds on a horse. To have an accurate calculation, you need to draw on some of the other figures in the tote board. This refers to the overall amount of the win pool and the sum of money bet on that horse. You must understand that the total pool is the money bet on all the horses in the overall. It does not pertain to the amount that will be paid up to the ones holding the winning tickets. The take that is from the winning ticket holder is deducted between 14-20 percent. This may vary depending on the state where you are in. All the money that is derived from the "take" goes to the local taxes, the horsemen, track expenses and the horse racing earnings. The payoffs employ the actual figures which are usually reduced to the nearest dime. This may vary depending on the rules that are shown at the race track.
If you are still having problems understanding what the odds for horse racing are all about you can go online which is full of resources giving you the correct information that you desire.
Choose the online resource that will best meet your requirements. Consider some of the most important elements you need to know such as the basics of horse race betting - how the whole wagering games goes and how you will pick the winning horse in the race track.
As a gambler myself I've tried a few horse racing systems. On my site first for horse racing I have given you the best that I have come across. Enjoy.
http://www.horseracingfirst.co.uk/
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