To the surprise of many, betting on thoroughbred racing is not like betting at a casino.  You are not betting against the race track to try to win.  This is pari-mutuel betting.  That means that all the bettors are betting among themselves. Each type of bet has its own "pool" or cash account and when you win, your money comes from this pool.

Odds are posted on the big green tote boards in the infield of the track and in the paddock area and on televisions throughout the track.  These odds are calculated by how many people bet for each horse.  Even though the minimum bet is $2, the odds quoted are based on a $1 bet.  If odds are 10-1, you would win $10 for every $1 you bet.  So if you gave the teller $2 and you won, you would win $20 plus the original $2 you gave the teller.