Please entertain a newbie question...
If on the Equibase race results a particular horse wins and pays $7.20, does that:
1) automatically assume that all wagers for the win were $2 wagers (ie., is it industry standard that the minimum wager to win, place, or show is $2), or is that a $7.20 to $1 wager ratio ?
2) if I wagered $2 on this horse to win, does the $7.20 include my initial $2 bet or is it my $2 bet + $7.20 = $9.20 returned at the window ?
Of course a physical bet and win would answer this question and theoretically affect the total parimutuel payout, but for now I am trying to understand the correlation between the Equibase race results payouts and individual wagers.
Also, a link within the Equibase site that explains this would be appreciated. I have searched (on the Equibase site), but have yet to find answers. It's probably in there and I am just missing it. Or is this something Equibase assumes everyone knows? Again, industry standard stuff.
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