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Computing the Odds - Where can I learn more? (2400 Views)
Broodmama
Posted: Dec 19, 2004 at 9:10 PM - Broodmama's 4th post Copy Link
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How are the odds computed? Do tracks use a specialized software for this purpose?


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FullHouseRacing
Posted: Dec 23, 2004 at 12:39 PM - FullHouseRacing's 7th post Copy Link
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For most tracks, yes, the wagering odds are put into the program and are calculated by a computer system, which is often different at every track. When a bet is placed on the race, the odds shown on the tote board are just showing you how much money has been placed in the wagering pool, as well as how much of your original bet you will get back if you win. for example, if you bet the five greyhound in a race to win and his odds show 5 on the board, that means that if he wins, he will pay 5 times what you wagered on him, which in a win wager is usually $2. So, since his odds were 5, and you placed a $2 wager, you will get back about $10.00.

On another note, in some programs in events such as stakes races, the odds are selected by a track official, but some tracks still prefer to use the computer odds.

Hope this helps and if you need more explanation or my explanation was confusing, feel free to post again and I would be more than happy to help you out! Happy Holidays!

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jcsperson
Posted: Dec 23, 2004 at 6:15 PM - jcsperson's 48th post Copy Link
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Once betting starts for a certain race all the pre-race, known as "ante-post," odds go out the window. The bettors determine the odds by making their bets. In the fifteen minutes or so between races you can see the odds on the toteboard change as bettors continue to place their bets.

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Broodmama
Posted: Dec 25, 2004 at 12:56 PM - Broodmama's 5th post Copy Link
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What are the "ante-post" odds based upon? The odds from the dog's last race? Is this how the odds are computed for horse racing?


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FullHouseRacing
Posted: Dec 25, 2004 at 7:51 PM - FullHouseRacing's 10th post Copy Link
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Those odds are produced by a computer system, based on thier wins from that box, thier career record, thier last few races, thier race times, etc. Sometimes it makes sense and other times it doesn't. It just depends on the system you use. Each track usually has its own, however, the stat attack system goes to most tracks in the pre race show and will give you a correct breakdown of each dog, however, it doesn't give any odds. Basically, its just a computer generated crapshoot based on twenty to thirty factors. If this didn't answer your question, feel free to post again. Happy Holidays!

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rockingship
Posted: Jan 2, 2005 at 8:36 AM - rockingship's 98th post Copy Link
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The actual oods are determined by the bettors themselves. Thai is called the "Pari-Mutuel" system of wagering. The gamblers are betting against each other, and not the track. The track, under the auspices of the state, simply handles the money. There are separate pools for win, place and show, and "exotic" bets like trifectas, superfectas and quinelas. The money in each pool is then equally divided among those who purchased winning tickets on those bets. The ante odds are the actual payoffs, once the takeout has been extracted.

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