How to Calculate Win Price in Horse Betting

Those who have never wagered on a horse race before can find it a bit intimidating, especially when they’re trying to figure out if the horse they’re betting on is worth it. Wagering without having any idea of how to actually do it could increase your chances of walking away empty-handed, but before you walk to the window, keep the following in mind to help you make the most of your bet.

At most tracks, the minimum amount you can bet is $2, and how much you could win depends on the odds. You’ll hear that word a lot at horse races – odds – and it’s important to know how to calculate how much you could win based on the individual odds of the respective horses winning. You’ll see two numbers with a slash in between, which is what the odds are of a horse winning the race.

For example, if you look at these numbers from February 2015, it shows that both Dortmund and American Pharoah are tied as favorites to win the Kentucky Derby with 10/1 odds. This means for every $1 you’ll wager, you’ll get a $10 profit, and with a $2 minimum bet, you’ll get $22 profit on 10/1 odds.

All you have to do to figure out the profit for a $2 bet is to multiply the first number by 2, divide that by the second number, add $2, and there you go. Let’s use another example. Here it states that Texas Red has 12/1 odds of winning the Kentucky Derby. Multiple 12 by 2, giving you 24, then add 2, and the profit would be $26 on a $2 bet.