Making Money Wagering On Horse Races

make-living-horse-racing_rev1Have you ever considered just how hard it is to make money wagering on horse races? The odds are clearly stacked against you as only one odds category exists whereby you can make money betting on every horse that goes to post at those odds: 1/5. Now, finding a sweet spot such as that, one where you cannot lose long-term, sounds great until you come to the realization that very few horses race at those odds and your profit after a series of 1000 $2 bets will be less than $100; less than 5%.

A typical brick and mortar business owner is happy to net a three to five percent profit at the end of his fiscal year. Since wagering on horse races does not have the overhead of a typical store (employee wages, lights, water, heat, air conditioning, etc.), it seems safe to assume a profit of ten percent is possible from wagering on horse races.

The following chart shows the various odds available when placing parimutuel wagers. The first column shows the odds you will see posted on the tote board; the second column shows the payout you will receive for each $2 wager; the third column shows the percentage of bets you must cash in order to make a 10% profit; the fourth column shows the natural chance of your horse winning based on its posted odds; the fifth column shows the actual win percentage achieved by horses going to post at the respective odds taken from a major study of horse racing results.

Odds  Payout  Must%  Nat’l  Act’l
1/5   $2.40   91.67  83.30  86.70
2/5   $2.80   78.57  71.42
1/2   $3.00   73.33  66.67  66.70
3/5   $3.20   68.75  62.50
4/5   $3.60   61.11  55.56
1/1   $4.00   55.00  50.00  46.80
6/5   $4.40   50.00  45.50
7/5   $4.80   45.83  41.67
3/2   $5.00   44.00  40.00  30.80
8/5   $5.20   42.30  38.46
9/5   $5.60   39.29  35.71
2/1   $6.00   36.67  33.33  27.20
5/2   $7.00   31.43  28.57
3/1   $8.00   27.50  25.00  16.70
7/2   $9.00   24.45  22.22
4/1   $10.00  22.00  20.00  15.70
9/2   $11.00  20.00  18.19
5/1   $12.00  18.33  16.67  13.00
6/1   $14.00  15.71  14.29
7/1   $16.00  13.75  12.50
8/1   $18.00  12.22  11.11
9/1   $20.00  11.00  10.00
10/1  $22.00  10.00  09.09  05.80
11/1  $24.00  09.17  08.33
12/1  $26.00  08.46  07.69
15/1  $32.00  06.88  06.25  04.40Horse_50x50

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