64→ Racing
La Plata racecourse
In racing you bet against everyone else, not a bookmaker. It all goes into a pool, the levy comes off and the rest is shared: on average, at most 72% of every peso comes back. Try some numbers.
Of the $10,000,000 pool, $2,800,000 go to the levy. The other $7,200,000 are shared among the $1,500,000 bet on the winner: $4.80 for every peso.
levythe winners get their pesos backthe losers' money, shared among the winners
Each racecourse rounds the dividend down and sets a minimum in its own rules; we do not hold the La Plata rules, so the dividend here is before rounding.
Source: Ley 13.253 of Buenos Aires province, article 4 (levy at most 28%)
Show the formula
Net pool = pool × (1 − levy) = $10,000,000 × 72% = $7,200,000
Dividend per peso = net pool ÷ pesos on the winner = $7,200,000 ÷ $1,500,000 = $4.80
From pool to dividend
dividend = pool × (1 − levy) ÷ bet on the winner
Example: A $10,000,000 pool with $1,500,000 on the winner: $7,200,000 to share, $4.80 per peso.
How a pool is shared
- PooledAll the money of one bet (say, win in race 3) goes into the same pool.
- LeviedThe levy: at official racecourses in Buenos Aires province, at most 28% (Ley 13.253).
- DividedThe rest is shared among the pesos bet on the result. With 15% of the pool on the winner, each peso comes back as $4.80.
- RoundedEach racecourse rounds down and sets a minimum in its own rules.
Racing against fixed odds
Racing (pool)
- The dividend is known at the end
- The levy comes out of each pool
- If everyone backs the same horse, it pays little
Fixed odds
- You know the price when you bet
- The margin sits inside the price
- The bookmaker risks its own money
The same pool with and without the levy
| Case | Per peso |
|---|---|
| No levy | $6.67 |
| Levy of 28% | $4.80 |
A $10,000,000 pool with $1,500,000 on the winner, before rounding.
More racing
Questions
How much does the racecourse keep from each bet?
The provincial law sets a maximum of 28% of betting sales at official racecourses. From a $10,000,000 pool that is at most $2,800,000.
Why does the calculator not round the dividend?
Because rounding and the minimum dividend are set by each racecourse's rules, and we hold no sourced copy of the La Plata rules. So we show the sum before rounding.
What happens if nobody wins?
The pool is left unclaimed and, under each racecourse's rules, carries over to another date or another bet.