The Win Odds Explained
The Odds shown beside a Post Number (#1 through #8) during the betting period before the start of a Jai-alai game are influenced by the amount of money wagered on Win ticket betting at that point in time before a game starts. The lower the Odds means more money has been wagered on that Post Number than another Post Number which shows higher Win Odds.
Right before the start of a Jai-alai game, the betting is halted (i.e. wagering is cut-off), that cut-off is referred to as Post Time. Minutes to Post Time (shown as MTP) are displayed for games to show the countdown for the remaining wagering time before the wagering is cut-off.
After betting is halted, the total betting pool amounts are co-mingled from all betting sites and the Final Gross Win Pool is determined. Betting Pool sizes can easily be seen with an on-line wagering service such as Watch & Wager as wagering progresses before the start of a game and after wagering is cut-off at Post Time. Note: The video displays of betting trends shown by the fronton websites, Jai-alai Channel and on-line wagering services also show current odds and betting pool sizes during the betting period before the game starts.
Win Payoff Calculation Based on Odds
Converting Win Odds to an approximate Win Payoff for your Win bet is a simple calculation.
Example:
If the Final Win Odds shown are 5 (which means 5 to 1 odds, or 5:1 odds), the $1 Win Payoff = $5, plus the $1 wagered = $6.00 Win Payoff returned to you for the $1 you wagered.
If you bet $2 on a Win ticket, and the Odds are 5 (5:1), the $2 Win Payoff = $5 x 2, plus the $2 wagered = $12.00 Win Payoff returned to you for the $2 you wagered.
If the Final Win Odds shown are 20 (20:1 odds), the $1 Win Payoff = $20, plus the $1 wagered = $21.00 Win Payoff returned to you for the $1 you wagered.
Win Odds on some of the posts are also very commonly displayed in fractional numbers when they are between whole numbers (i.e Fractional Win Odds). Odds shown that appear as 7/2 are to be interpreted just like a fraction of 7/2 which equates to 3.5, and thus, the $1 Win Payoff = $3.50, plus the $1 wagered = $4.50 Win Payoff returned to you for the $1 you wagered.
Other Fractional Odds you will see are shown below:
3/2 = 1.5 (or 1.5:1 odds)
5/2 = 2.5
7/2 = 3.5
9/2 = 4.5
On a Post Number that has some “large” early Win betting; one can often see very low Fractional Win Odds such as these:
1/5 = 0.2, in that case the $1 Win Payoff would equate to $1.20 at that time
2/5 = 0.4, which is $1.40 for your $1 wager
3/5 = 0.6, which is $1.60 for your $1 wager
4/5 = 0.8, which is $1.80 for your $1 wager
6/5 = 1.2, which is $2.20 for your $1 wager
7/5 = 1.4, which is $2.40 for your $1 wager
8/5 = 1.6, which is $2.60 for your $1 wager
9/5 = 1.8, which is $2.80 for your $1 wager
Watch & Wager Makes it Easy
Watch & Wager does the $1.00 Win Payoff calculation for you based on the total Win Pool size, the amount wagered on each Post Number, and the Take-out Rate for the Win bet. They display the estimated $1.00 Win Prices during the betting and also show the Final calculated $1 Win Prices after the betting has been cut-off.
Alert on Win Betting Odds – be careful
Beware as Win Betting Pools are “small” for Jai-alai compared to horse racing venues, and the WIN BET ODDS ARE NOT TRULY REPRESENTATIVE of the actual betting favorites like they are for horse racing. In other words, just because a Post Number at Jai-alai indicates a certain post is “the favorite” it is not necessarily the “the favorite” in the much larger betting pools such as the Trifecta pool.
The more you wager on Win bets, the more you will lower the odds on the Post Number(s) you are betting on. Win bet odds can be heavily influenced by one bettor, which is another reason the Win Odds are not truly representative of the “actual” betting favorite of the public as a whole.
Typical Win pool betting sizes at Jai-alai generally range from $100 to $200 per game. The Place and Show betting pools are even lower than Win betting pools, a trend that is very common in the horse racing industry. The most popular and attractive wagers for Jai-alai pari-mutuel wagering are the Trifecta wagers, which are more difficult to win but have much higher rewards.
Win bets are, however, are a very good way for a novice to the sport of Jai-alai to “get their feet wet” and play conservatively if they are new or inexperienced in betting on Jai-alai games. Also, looking for opportunities to wager a Win bet where a very skilled player is at high win odds is a good way for a novice and even seasoned Jai-alai bettors to enjoy the entertainment value of the Jai-alai sport with low budget wagering. SayHiLi.com expects Win pools will become larger for Jai-alai as more fans become familiar with this super fast action-packed sport!
Remember, as the famous Jai-Alai personality, Stu Neiman says “you don’t need to wager to enjoy the Jai-alai games.”