The racetrack handles the money, keeps a percentage (called a “take-out”) and calculates the horses' odds based on the amount of money wagered on each horse. This horse will have the lowest odds.The "longshots" have the least amount of money wagered on them and therefore have the highest odds. At the track, the odds will be posted on the tote board before the race they change up until post time, depending on how customers are betting on each horse in the race.The horse that customers have bet the most money on is called the "favourite". These are the odds placed on the horses by the track’s handicapper when the race program is published, before the wagering starts. ![]() The odds listed in the race program are the “morning line” odds.
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