What are the Odds? The Betting Basics for Packwood Grand

There’s a lot more to A Day at the Races than champagne and fashion (though, we’re atingle with the anticipation of a flute of Veuve and The Packwood Grand Best Dressed Award). Whether this is your first year at Calgary’s most social summer affair or you’re a seasoned veteran, you’ll need to know the betting basics to take the day in properly! 

The Lingo
Stakes: Your stake is how much you want to bet. The minimum for Packwood Grand is $1; there is no maximum. 
We said “basics,” okay? Your horse must finish 1st to be a win.Place: Your horse must finish 1st or 2nd. 
Across the Board: Three equal bets to win, place and show on a single horse 
Quick Picks: If you can’t decide, ask for a Quick Pick and a number will randomly be selected for you. 
Long Odds: You might hear that a horse has long odds (e.g. 33-1, 50/1, or even 500/1). This generally means that a horse is very unlikely to win. 
Short Odds: Short odds insinuates that a horse has a good chance of finishing first (e.g. 2/1, 4/1 or “evens”). 

Exotic BetsExtractor: 
Try to pick the first two horses to cross the finish line. They must finish in the exact order you designate when purchasing your ticket. 
Try to pick the first three horses to cross the finish line in the exact order. 
Pick-3, -4, -6, -7: Pick the winning horses in 3, 4, 6, or 7 consecutive races. 
Boxing Feature Bets:When you “box a bet,” essentially you are giving you giving yourself every possible combination of the horses you select in a feature race. For instance, in a race where you bet Exactor, if you “box” horse #1 and horse #2, you will have a ticket with two bets: 1&2, and 2&1.
Quinella: Select two horses in one race to finish 1st and 2nd. The order your horses finish does not matter and long as they come in 1st or 2nd. A quinella wager is the only bet that is automatically boxed.  

The Oddity of Odds
Odds are determined by how much money is bet on each horse to win. The more money wagered on a horse, the more people in the “pool,” and the less the horse will pay. If a horse is listed at 10-1 on a $2 bet, you would receive approximately $22 should that horse win.

On a $2 bet, the following approximations apply:

1/2 pays $3
8/5 pays $5.20
2/1 pays $6
7/2 pays $9
10/1 pays $22 

Placing Your Bets at Packwood
There are 3 options for placing your wagers this Canada Day: Live Teller, AmTote, or Century Down’s mobile betting app,MBet.
Logging into MBet
First, you’ll need to purchase a voucher from the teller. Make sure you keep this voucher safe. You will need it later to claim your winnings. Next, log onto the MBet wifi from your smart phone. Open your browser and log ontowww.mbet.centurydowns.com. Now, just enter the account number and PIN found on your voucher and place your bets!
Using the Automated Teller (AmTote)
1) Insert bill or voucher
2) Select track
3) Select race
4) Select wager amount
5) Select bet type
6) Select horse by number
7) Check wager and click “make bet,” then “finish.”


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