Welcome to your complete primer on how betting works with MyWinners. This section takes you inside the mechanics of horse racing wagering — from the basics of pari-mutuel systems to exotic bets and advanced strategies.
What You’ll Find in This Section
What Is Pari-Mutuel Betting?
Discover how pari-mutuel betting pools wagers, redistributes payouts, and sets the foundation for modern horse racing wagering.
Types of Bets & Wagers
Explore the full suite of wager types you can place — from standard bets like Win/Place/Show to complex exotics.
Understanding the Tote System
Learn how the tote system works, how odds are calculated, and how pool size and takeout affect payouts.
Advanced Betting Strategies
Once you’ve mastered the fundamentals, dive into sophisticated methods for managing risk, sizing bets, and structuring exotic sequences.
💡 Did You Know? Pari-mutuel betting has been the standard system for horse racing in the US for more than a century. Unlike fixed-odds betting, payouts aren’t decided until the pool closes — meaning the odds can change right up to post time.
Frequently Asked Questions
Why does every MyWinners bet go into a pool?
Why does every MyWinners bet go into a pool?
Pari-mutuel betting is built around pooling all wagers of a given type — like all Win bets — then dividing the net pool among winners. It ensures your payout is determined by how much was wagered, not preset odds.
What’s the “takeout” and how does it affect payouts on MyWinners?
What’s the “takeout” and how does it affect payouts on MyWinners?
Takeout is the house’s commission taken from each betting pool before winnings are distributed. A higher takeout means less money available to pay bettors.
What’s the difference between straight and exotic bets?
What’s the difference between straight and exotic bets?
Straight bets (Win, Place, Show) are simpler — you’re wagering on one horse’s performance. Exotic bets (Exacta, Trifecta, Pick 3, etc.) require predicting outcomes across multiple horses or races.
How are odds determined in pari-mutuel wagering?
How are odds determined in pari-mutuel wagering?
Odds reflect the ratio of all money bet on winners versus non-winners (after takeout). If many people bet on one horse, its odds shorten; if fewer bet on another, its odds lengthen.
Is there a “best strategy” for pari-mutuel betting?
Is there a “best strategy” for pari-mutuel betting?
There’s no foolproof method, but sound strategy involves bankroll management, understanding value, spreading risk with exotic structures, and staying disciplined with bets.