In the betting, world odds play a very important role. When you use online betting sites to place the bet, you come across the term “betting odds”.
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In simple words, odds means the betting rate. In horse betting, the odds are different from all the other sports. You will come across old listed on the horses in the race.
For example, a horse will have odds 7 – 2. Apart from that, you will also come across the term mutuel payoff amount.
The odds and mutuel payoff will be listed on the betting site. These things might confuse you at first. However, it is pretty easy to understand horse racing odds.
Horse Racing Odds:
Odds are actually the return you will get after betting for a certain amount of money. If the horse you bet on wins the race, you will get the money equivalent to the odd.
If the odd is less, you will get less money, but if the odds are good, you can make more money from the bet.
Most of the time, horse racing odds are given in the form of 6-2, 5-1, etc. Such type of odds directly shows the profit you will make on investing a sum of money.
So for odd like 6-2, you will make $6 profit on investing $2 if the horse wins the race. So for every $2, you will earn a $6 profit. So on investing $2, you will get total $8 in return.
So if the odd is 1-1, it shows that you will get $1 profit in investing $1. Sometimes, there will be odds like 1-3. It shows that on investing $3, you will get only $1 profit.
So in short odds show how much profit you are going to make by investing a particular amount. It shows your return as well as profit.
Different Odds for Different Bet Types:
The betting odds differ on the basis of the bet type. For straight or simple bets the odds are not great. The chances of winning are more so the odds are low. With low odds, you will not be able to make a high profit.
In order to make more profit, you need to go with exotic bets. These types of bets have higher odds. It helps you to make more profit from betting.
However, in exotic bets, you need to place a bet on more than one horse. It mostly depends on the order. If you win as per the order, the payout will be great because of higher odds.
When the chance of winning a bet is low, the odds are high. If you take advantage of these odds, you can make a good profit from betting.
You need to use proper betting strategy to place exotic bets. These bets are not really easy. You need to be an expert in horse racing to win such bets. It is one of the reasons why the odds are so high.
This is all you need to know about horse racing odds. Once you understand how odds work, you can use it to your advantage.