How to Calculate Race Track Betting Odds?

You’ve probably heard of the expression “horses for courses,” and that certainly applies to racing. Some horses are better suited to sprinting or jumping, while others are better at staying the course. The same concept applies to betting. Some sportsbooks are better than others when it comes to taking wagers, so you’ll have to do a little bit of homework before placing a bet. Keep reading to find out how to calculate racing odds and where to get the best odds. 

Horse And Sportsbook Ratings Are Not Always Reliable

Everyone loves a winner, and when your favorite horse or sports team wins, you’ll feel very confident that your prediction came true. Unfortunately, this is often not the case when it comes to betting. It’s very easy for a bookmaker to mark a horse or a team as a winning one, even if they actually lose. In recent years, we’ve seen numerous examples of this in the news. Professional gamblers even do this on purpose sometimes, just to get more money from unwary bettors. To avoid getting fooled, you should always look at both the horse and sportsbook rating before placing a wager. If you see that the horse is rated highly by the sportsbooks, but the public is not as enamored with them, you might want to consider laying off a little bit of money on that particular horse. It would be best if you did some research before placing a bet, simply to satisfy your curiosity about how the race is going to turn out. Remember: 

  • It’s always best to avoid betting on a horse or a sport you know little about.
  • It’s best to use a betting calculator. They can help you avoid large, unexpected losses. 
  • The main thing to keep in mind is that you should never bet against the odds. This is always an invitation for trouble.

As a rule of thumb, if you want to calculate the right odds for a horse race, you should multiply the Horse Rate by the Sportsbook Odds, and then add the Addendum. Of course, this is not an exact science, and sometimes you’ll have to make a judgment call. This is why it’s best to stay away from sports that you aren’t familiar with, especially if you’re new to betting. Familiarity breeds contempt, as they say, and you don’t want to be holding a grudge against an athletic team or a horse after the fact of betting on them. It’s all about having fun, right? Keep that in mind as you navigate the sometimes-murky world of sports wagering.

When To Bet On A Horse Race

You should always analyze the form and condition of the horse before placing a wager. It’s tempting to pick a winner based on just their name or history, but this is a surefire way to lose a lot of money. Just because a horse has beaten all the others doesn’t mean they’ll beat your pick for the next race. It’s important to check all the stats and know exactly what kind of shape they’re in. This is especially important if the race is very early in the day, as your horse may have been up all night, running non-stop. This is why it’s best to avoid picking any horse that hasn’t had enough rest. If they’re fresh, it will be easier for them to maintain their speed for the entire race, winning by a mile. The opposite can happen if they’re tired, as they may keep falling behind, even though they may still be winning at the end.

Where To Bet On Horse Races

There are numerous places that you can place a wager on a horse race. If you’re in Australia, there are actually legal betting exchanges there, where you can bet on horse races daily. There are also a variety of online sportsbooks that offer both Australian and international racing, as well as a variety of other wagering options. If you’re in America, you have state-by-state options as well, with most states allowing pari-mutuel wagering. This means that there are actually tracks that conduct regular horse races, and you can attend those races and place your wagers! If you’re looking for a way to place wagers online, any of the major sportsbooks should have an Aussie version too, providing you with all the features you could want for wagering on the canter. It would be best to research the kind of odds that each different sportsbook offers before making a decision. Some are better than others when it comes to payout percentages, so this should also be taken into consideration as you make your decision. Keep in mind: If you want to do a lot of wagering, it’s usually best to stick with the bigger sports books because they have more channels available, providing you with more chances to win, as well as offering more perks for existing accounts. 

The Importance Of Odds In Sports

Even if you’ve never bet on horse races before, odds are you’ve at least heard of them. They always seem to pop up when talking about sports, and for good reason. Sports wagering is all about the odds, and it can either look like a winner or a loser based on how they fall. You’ll have to do some research before placing a wager, simply to find a bookmaker that offers the kinds of odds you want to see. Sometimes this can be a chore, as there are dozens of different betting lines to choose from, providing you with all the flavors of the sweet science. Just remember that it’s all about the odds, and if you want to calculate the right ones, you have to do some hard work. It may take some practice to get it right, but at least you’ll be able to tell the difference between the good and the bad odds once you’ve calculated them correctly. Just like with any other science, once you know what the odds are, it’s easier to find information on how to bet on them. For example, if you want to bet on the underdog in an NFL matchup, you’ll have to search online for “underdog football odds,” and then use your search engine to find a website or app that provides these odds. There are also specialty sites that provide information on upcoming horse races, providing you with all the information you need to place a bet. Keep in mind:

  • Even though it may look easy to just pick the favorite, it’s usually not the case. Favorites always win, but that doesn’t mean it’ll always be the case when you pick a horse or a sports team
  • Even though you may feel like you have all the information you need, there will always be some factor you’re overlooking. It may be something as simple as the favorite having a bias line in their favor, or as complicated as a betting system that is based on form, race records, and previous results
  • Whatever the case may be, the favorite will almost certainly be the stooge. It’s better to pick the underdog unless you’re sure the favorite is undesirable
  • The favorite is usually the one the public chooses. This may not be the case if there is a large amount of bias in favor of the underdog. You are generally better off avoiding these darling Darlings of the betting world, as they will likely cause you a lot of strife, not to mention unexpected losses. This especially applies to daily double duties and over- or Under- bets. The darlings are also very difficult to punish because often the public doesn’t want to believe that their preferred team is in fact a bad team, and they’ll hide this fact from themselves by placing huge wagers on them. This usually results in them winning more money than they would otherwise have if they had just bet on the underdog. So in some ways, it’s better to pick the underdog just so you can bet against them.