When speaking of determining a horse racing bet, there are few things a regular person can say. It is not a commonly known thing, so this is why only the people who take the time to learn all that can say something about how to calculate a horse racing bet. But as soon as you have learned that, you will have a better understanding of betting on the horses and also more chances for bigger wins.

The first thing you need to set straight is the amount of money you could win and how much you need to bet to win it. Well, 10 -1 means you could win $10 for each $1 wager you place and 5 - 5 would mean you could get a $5 profit for ever $5 bet. So do the math yourself!

Remember though that the odds must be rounded off, so the minimum bet is $2 and the payoffs are rounded to the nearest five or ten cents.

If you want to determine a horse racing bet in terms of exact odds, the win pool and as well as the amount of bets placed on the particular horse are very important things to know. A win pool is the entire amount of money wagered on all the horses being raced. So, knowing this key factor, you can figure out the take and subtract that amount from the total pool. Then you should subtract the amount wagered on that particular horse. This will let you know the amount of money that will go to winners. In the end, you have to divide this amount by the amount of money wagered on your horse to get the best odds.

The following step is to actually place a bet on a horse and the easiest way of placing a horse bet is a straight bet. This means that you bet on whether or not the chosen horse will Win, Place, Show. I'm sure I've got you all confused now. Well, when you place a horse bet of win, it means that you expect the horse to come in first place. The Place or Show bet means however that you think that the horse will come in second for Place and third for Show.

There are several other kinds of bets that can be placed. To name just a few, there is the Across the Board bet, saying that you hope the horse comes in at any of the three and the Quniella, which says that the horses are to come in first and second in any order.