Odds of winning and payouts
Betting on horse racing is considered a game of skill, meaning you can improve your chances of winning based on the decisions you make. That typically means knowing something about the horses that are racing, understanding the conditions and course, and having years of experience at the track. If you don’t check those boxes, your results are essentially based on chance, and the many, many variables and influences that are out of your control.
To understand your odds and payout on a winning bet, look to the odds posted for each horse in a particular race. If a horse is listed at 7-1, it means you would win $7 on a $1 bet.