How are winnings calculated and paid?
by Douglas James
Question. I bet $50 on a horse to win that was running at 9-1 odds. The horse won and paid $20. Why did I only receive $450 from the track (i.e., 9 x $50) instead of $2000 (i.e, $50 x $20)? Thanks
Answer: A base wager is $2 so the $20 you mention is calculated 9*2= 18 + 2 base wager = $20
However the return on your $50 stake is calculated 9*50 = $450 - I presume your $50 stake was added to the $450 for a total of $500
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