Pari-Mutuel Pool Calculator
Calculate exact pari-mutuel payoffs based on pool size, takeout rate, and winning bet distribution. Understand how horse racing odds are determined.
Pool Analysis
Pool Breakdown
Calculation Details
Total amount wagered on this bet type
Total wagered on the winning selection
Track commission percentage
How much you bet on the winner
Pari-Mutuel Formula
1. Track takes commission: Net Pool = Total × (1 - Takeout)
2. Calculate per-dollar payoff: Rate = Net Pool ÷ Winning Bets
3. Your payoff: Payoff = Rate × Your Bet
4. Apply breakage: Final = Round Down to Dime/Nickel
Quick Answer
Pari-mutuel betting pools all wagers together. The track takes its cut (takeout), then divides the rest among winners proportionally. Your payoff depends on how much others bet, not fixed odds. This is why odds change until post time.
Key Concepts
Pool-Based Odds
Unlike fixed-odds betting, pari-mutuel odds are determined by the betting public. Heavy betting on one horse lowers its payoff; overlooked horses pay more.
The Takeout
Before any payoffs, the track removes 15-25% for operations, purses, and taxes. This is the "house edge" in pari-mutuel betting.
Frequently Asked Questions
How are pari-mutuel payoffs calculated?
The track takes its commission (takeout) from the total pool first. The remaining money is divided among winning ticket holders. If the pool is $100,000 with 15% takeout, $85,000 is available for winners.
What is the track takeout?
Takeout is the track's commission, typically 15-25% depending on bet type and jurisdiction. Win/Place/Show usually have lower takeout (14-18%) than exotics (20-25%). This is taken before calculating payoffs.
Why does the same odds pay differently at different tracks?
Pool size and takeout rates vary by track. Larger pools offer more stable odds, while smaller pools can shift dramatically. Different states also have different takeout regulations.
What is the minimum payout?
Most tracks guarantee a minimum $2.10-$2.20 payout per $2 bet ("minus pool"). When favorites are heavily bet, the track sometimes pays more than the pool mathematically allows.