How do you explain Horse Racing odds?
Decimal Odds (Easiest)
Rather than using percentages, bookmakers use odds. Decimal odds are commonly used in Europe and also known as European odds. To convert chances into decimal odds just take the chance as a % and divide into 100. 100/%Chance = odds So if you think something has a 20% chance of winning then 100/20 = 5 Say you wish to place a bet on an event which has decimal odds of 5. If you win, for every one pound you stake you will receive 5 pounds back. Stake £10 and you will receive back £50. You can see that your stake is included in the odds. European odds multiplied by your stake equals the payout. The odds show how many units the bookmaker pays out per unit staked.
The more traditional fractional odds are often used in the UK. Using the 20% chance example again, the factional odds are 4/1. Fractional odds are saying that for every 1 time you win then 4 times you will lose. Which is the same as saying you have a 20% chance of winning and an 80% chance of losing. Say you wish to place a bet on an event which has odds of 4/1. If you win, for every pound you stake you will win £4 and you will receive your one pound stake back, giving you a total return of 5. If you place a bet of £10 at 4/1, then you will win £40 and have your £10 stake returned, giving a total return of £50. UK odds multiplied with your stake equals the winnings. The odds show how many units you win in terms of winning per unit staked.
Traditionally odds is a measure of the likelihood OS something occurring. However in horse racing it measures what your payoff will be if your bet wins. Fractional odds are what most of us are familiar with. If a horse is quoted at 4/1 then for every dollar you bet you win four dollars. Decimal odds indicate what your payoff will be if your bet wins, including your bet. For example if a horse is quoted…
If the odds of a horse winning a horse race are 2 to 7 then the odds against that horse winning the race are?
First look at the racing form and the odds of each race. Then read about the jockey that is riding the horse you our betting on. Both th odds and the Jockey's past races are the main knowledge needed. How many times did the horse win in the past and with each win who was the jockey riding the horse and is the jockey's weight less as the more weight the horse must carry the…
There are many different horse racing software's available, such as AceBots. AceBots offers customers a lot of choice on the way they bet, and is extremely easy to use.The latest software is Bettorbot, which can be used all over the world and focuses on playing automatic bets. Horse racing software is mainly used by the enthusiasts, and can essentially narrow the odds on horse races to increase profitability.