How do you know which odds are the lowest in Horse Racing?

Odds tell you what your profit will be should you win the bet. A horse that is 6 to 5 (shown on the tote board as 6/5) will pay 6 dollars for every 5 dollars you bet. A horse that is 6 to 1 (shown on the tote board as 6) will pay 6 dollars for every 1 dollar you bet. Several factors go into determining the odds for a particular horse. First of all is the total amount of money bet for the specific pool (win, place, show, etc.). From that total several deductions are made: state/local taxes, track expenses/profit, purse money for the horsemen. These deductions, commonly called the 'take', are usually 15-20 percent of the total money wagered. And finally, the amount of money bet on the horse. So to use a win pool as an example, let's say that $20,000 is bet on all horses, 17.5 percent is the take, and horse #3 has had $4,100 bet on it. To determine the odds to win on the #3 horse, first subtract the take from the total amount of the pool, then divide the amount bet on the horse to win into the difference of the total amount bet minus the take. Pool - $20,000 Take - 17.5%, 17.5% of $20,000 is $3,500, $20,000 - $3,500 is $16,500 Odds - $16,500 / $4,100 = $4.024 The odds of the #3 horse to win are 4 to 1. You will win 4 dollars for every 1 dollar you bet. You'll also get your original bet amount returned in the case of a win, place, or show bet, i.e., you'll get the 4 dollars you win plus your original dollar for a total of 5 dollars. The actual amount paid for a win bet at 4 to 1 will be anywhere between $5 and $5.45 because the tote board won't reflect every single possible increment in the betting. The next bet level after 4-1 is 9-2, at which point the bet would pay from $5.50 to $5.95. Then comes 5-1, which pays from $6 to $6.95. After 9-2, the tote board stops reflecting half numbers, so then the odds will be 5-1, 6-1, 7-1, and so on.