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How to Understand Horse Betting Odds? – Expert Guide & Tips

Fractional

Decimal

American

Fractional

Decimal

American

1/2

1.5

-200

4/7

1.57

-175

4/6

1.67

-150

Evs

2.0

+/-100

6/4

2.5

+150

2/1

3.0

+200

3/1

4.0

+300

4/1

5.0

+400

5/1

6.0

+700

10/1

11.0

+1000

FAQs About Horse Racing Betting Odds

Here are some of the most frequently asked questions we receive at GambleOntario.ca about horse racing betting odds.

What is the difference between a win and a place bet?

A win bet is a bet on the winner of the race. Pick the winner, and you win money. Pick a loser, and you lose money. Whereas a place bet is a bet on a horse to be placed, which is usually 1st, 2nd and 3rd place.

How do I know if a horse is a good bet?

Having a good knowledge of horse racing and betting odds can increase your chances of winning.

What does it mean if a racing horse is ‘odds on’?

This means that bookmakers think it has a greater than 50/50 chance of winning and offer odds to reflect this. In fractional odds, a horse who is odds-on is priced at less than Evens. For example, 4/6, 1/2, 5/6 or 1/3. This means that your profit will be less than your stake. Bet $6 on a horse at 4/6, and you win $4.

What factors affect horse racing betting odds?

There are a large number of factors that affect horse racing betting odds. The size of the field, the ability of the horses, the jockey’s recent form, the trainer’s recent form…to name just a few.

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7+ Years of Experience as a Horse Racing Betting Expert
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Horse Racing Betting Expert

Eamon Doggett

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Eamon is an experienced sports journalist specializing in horse racing betting with over 7 years of expertise. He enjoys focusing on Canadian horse races and writing articles that provide readers with betting insights to maximize their profits. Eamon advocates betting on long-shot outsiders and utilizing alternative markets for a more significant return on investment.

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