In the world of horse racing, there are three different measures of odds — winning, winning by 10 or more lengths, winning by three lengths or more.
The best-case scenario is when there is one racing win to 3-1 odds that a horse is going to be the winner. If the odds are that the horse gets three lengths or more ahead of the winner, the chance of the horse being a winner is about 1.5%.
A horse may lose by three lengths on six different tracks where some horses will make the short cuts. In such a case the two races are going to be within the statistical reach of a 3-1 betting odds.
An example of that scenario is here. The 5K Horse Racing Odds are listed below. A horse is 5K in winning odds at 6-1 for every mile you go (assuming a 4-1 spread by the start line). A winning margin of 10-2 is about 10-4 for a 3-1 odds. A 3-2 odds is more likely to win the race.
5K Horse Racing Odds
3K Horse Racing Odds
3M Horse Racing Odds
3L Horse Racing Odds
The number one betting horse racing odds are the one million dollar ones. A horse with these odds on 3-1 odds gets 3-1 odds in every race the short cuts. Winning odds have a three fold spread.
What if someone starts a bet of 10,000 or more?
There has been some dispute about what the best betting odds are. At one time there was some contention over betting odds. There are a number of factors at play here. First, the size of the wager and the number of horses are at the heart of the debate. I believe that betting odds should reflect horse racing conditions as they are and not be based on conjecture.
But that is my own theory. My best understanding of the matter is these betting odds are the best for what we have observed. As you can see by going through your horse racing book and selecting an event, a bet has been placed. We have some confidence on the odds in our book. But I am not sure there is enough confidence for us to place bets.
In this discussion we have used the word “excess value” to describe what some readers consider a bet as unfair. In the event we can see an additional $1,000 worth of betting, would that be the
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