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The odds decide what winners are paid after a race has been accomplished and the Winnner (1st), Place (2nd), and Present (third)have been officially declared. The actual payout for a Win (1st) bet is slightly less than the final posted odds when the race begins as a result of track fees and state taxes are sometimes taken out before winners are paid. Lesser amounts than the latest posted odds are paid for Place (2nd) and Show (3rd) bets, with the quantities paid lowered additional by fees and taxes.

The actual odds are what the percentages truly are at any given time primarily based on public action. Remember, canine and horse racing are parimutuel activities. Meaning the payout odds are determined by the amount of cash wagered on every horse. After a horse is declared the winner, the pool is cut up amongst all people who backed that horse.

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