In that context, the “Monster Race” is a one-horse race. One could say the Odds Board is a form of “racetrack love.” Odds and Probabilities: Examine this abbreviated Odds/Win Probabilities ChartĪ “monster” at odds of 4-5 holds a percentage of the crowd’s parimutuel wagering pool giving it a near 56% probability of winning.
For all races, the public betting choice, the favorite, wins 30% to 38% of the time.(Note larger fields like the 20-horse Kentucky Derby and 14-plus-horse fields for big days may expand to include the first seven choices.) Approximately 90% of winners are ranked among the public’s first 3 to 5 betting choices.The pari-mutuel Odds Board is a relatively efficient “market.” Efficient means the betting favorite wins more than the second choice, the second choice wins more than the third choice … and so on.First, several supportive research-based facts:
Today, we flesh out one of the four pictures presented to bettors by the Odds Board. If the problem for new fans to racing is not knowing how to win and have fun, one solution is providing an understanding of how the gamble at the core of the game works.
