It’s surprising at the number of men and women make bets on horse races without the slightest understanding of the bag board. While all of those numbers on the board may seem imposing, the odds and payoffs are actually pretty easy to learn. And by doing so, you will be able to create and compute better bets.
Reading the Win Odds
The easiest advice on the board is the win odds quoted on each individual horse. They do not let you know exactly what the horse will cover, however, the amount of profit you will receive along with the amount you need to bet to get it.
By way of instance, 6-5 means you’ll get $6 per profit for each $5 you wager, while 20-1 means you receive $20 in profit for every $1 you bet. In the latter case, a bet of 2 means you’d get $42 back for a winning bet.
Payoffs use the actual odds and are rounded down to the nearest nickel or dime, depending on the rules at that track. This rounding is known as breakage.

Read more: