Horse betting odds can be considered as the holy bible of present day horse betting system which comprises mainly of betting. For a beginner seeking some extra profits in the sport, mastering the idea of odds is a should. This is perhaps the most complex phenomenon in the sport. During the last three decades, numerous books and articles have been written explaining the concept of odds.
It is likely that the basic concepts in the sport. They basically tell a person just how much they are going to generate if they invest a specific amount. The beginners very often get caught up by open public opinion that is certainly favors the favorite. However only professionals know that it is more profitable to invest on the horse that many people don’t. This is because the much less the amount of individuals trading, the more the individual earnings in case the bet wins. But, the chances of that is less. So, people go along with the public and earn a few reasonable bucks.
The reason behind the favorite domination on the odds board is mainly due to the three groups of people that influence the beginnerï¿½s opinion the most. The three groups are the pre-race traders, race trackers and also the proprietors.
The very first group does not really know anything about the bets and just try their luck by investing earlier. These folks have more important jobs at hand and they cannot afford to waste their time betting. So, these people just place a few arbitrary bet earlier and expect it to win. Others who bet at the race track see their own bets on the odds board and opt for the favorites amongst all of them. The problem in going with them is that they do not know anything about the activity and just invest randomly.
The second group is the race trackers or the persons who work at the horse track with the horses. They thus pretend to know every thing about the health of the horses and thus people get affected by the vast levels of knowledge these people possess.
The third and most important group is that of the proprietors. These people get carried with the feelings they have for their animals and they are egoistic in nature. Since they are big betters, people assume that they are right and often go with them.
Horse betting odds are normally in the form x/y(eg. 6/1, 7/2). A ratio is obtained by dividing x by y. The favourite is symbolized by the smallest ratio or the largest quantity. That payout amount is calculated by the formula: [bet amount X odds ratio to 1] + bet amount. So, the odds of 3/1 can pay $ 8 for a $2 bet while the odds ratio of 4/1 will pay $ 10 for a $2 bet.
Horse betting odds differ for every track but it is generally same for each track. Odds are undoubtedly the most important concept in the sport and profession of horse racing and horse betting. So, someone seeking money in this should master this particular idea.