Odds ......need help!!!!

[out_at_sea]

It may be not poker related but it is realted to odds....

Can anyone explain to me how odds work?

I am referring to horse racing and in particular to the Kentucky Derby where the winner Smrty Jones had : 10:20 6:20 4:80
Second place: Lion Heart had: 8:20 5:80

Third place, Imperialism had: 6:20

What does those number mean?


Could you also please explain trifecta, exacta , superfecta or daily double ?
Thanks

[golddog]

I believe what you're showing is the payout, really:

$10.20, $6.20, $4.80

That's the payout for people who bet SmartyJones to win, place, or show, respectively. That's why the place horse only has two payouts, and the show horse only one. These are on a $2 bet (the minimum).

These have a rough correlation to the odds, but not exact. For that horse to pay $10.20, I imagine it went off at 5:1 or so.

I believe I know three of the terms:

Trifecta -- picking all three horses in order.
Exacta -- picking the top two horses in order.
Daily Double -- A bet on two races (I think usually the fifth and sixth?) each day which you try to pick the winner of both.

[out_at_sea]

I believe what you're showing is the payout, really:

$10.20, $6.20, $4.80

That's the payout for people who bet SmartyJones to win, place, or show, respectively. That's why the place horse only has two payouts, and the show horse only one. These are on a $2 bet (the minimum).

These have a rough correlation to the odds, but not exact. For that horse to pay $10.20, I imagine it went off at 5:1 or so.

I believe I know three of the terms:

Trifecta -- picking all three horses in order.
Exacta -- picking the top two horses in order.
Daily Double -- A bet on two races (I think usually the fifth and sixth?) each day which you try to pick the winner of both.

$10.20, $6.20, $4.80

So if I bet $2 on Smarty Jones placing first ....that means I will get $10.20?

How do I get $6.20? Or $4.80? Do I have to to bet $2 on Smarty Jones for placing second or third?

Lion Heart had: 8:20 5:80 >>>>Do I get 8:20 if I would bet $2 placing lion Heart second?

I wanna make sure that I got down the betting and the pay out.....