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The percentages determine what winners are paid after a race has been accomplished and the Winnner (1st), Place (2nd), and Show (third)have been formally declared. The precise payout for a Win (1st) bet is barely lower than the final posted odds when the race begins as a result of observe fees and state taxes are often taken out earlier than winners are paid. Lesser quantities than the most recent posted odds are paid for Place (2nd) and Present (third) bets, with the amounts paid reduced additional by fees and taxes.

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

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