# Horse Racing — Quick Reference

## How it works

Pari-mutuel bets of the same type enter the relevant pool. Settlement uses the official final pool and result under its rules. Fixed-odds wagers use an accepted price and the provider's settlement terms instead.

## The key numbers

Named examples from NYRA's Aqueduct FAQ:

- **Pick 5 / Pick 6 entries:** 15%; Pick 6 carryover days are listed separately at 24%.
- **Win / Place / Show:** 16%.
- **Exacta / Quinella / Daily Double:** 18.5%.
- **Trifecta / Superfecta / Grand Slam / Pick 3 / Pick 4:** 24%.

These are a named source's pool deductions, not every bettor's expected loss or a promise that those products are available at another venue.

## One thing to know

A more complex bet does not always have a higher takeout. Read the actual pool and carryover conditions. A quote shown before a pari-mutuel pool closes is provisional.

## The math in plain English

In a simplified $1,000 win pool with 20% takeout, $800 remains. If $200 was staked on the winner, each $1 winning stake returns $4 total: the $1 stake plus $3 net winnings. This excludes carryovers, refunds, rebates and rounding.

Individual expected return also needs the runner's true winning probability and settlement terms. The pool percentage alone does not supply that probability.

## Sources and scope

[NYRA's Aqueduct wagering FAQ](https://www.nyra.com/aqueduct/racing/betting-faq/), checked September 5, 2026. The numerical pool is a stated mathematical exercise, not a real race payout.

[Full Horse Racing guide](https://www.playbookrg.com/brand/content/games/horse-racing/) · Playbook RG · Free to copy and adapt under CC0. External sources have their own terms.