In [url=“http://boards.straightdope.com/sdmb/showthread.php?t=303837”]this thread, BobT asks
Since the tread in question was about something else, I’m transferring BobT’s question to another thread (hope you don’t mind, BobT!).
If the odds are not maxed out at 99-1, what is the theoretical upper limit on the payout on a single horse? If ten horses are racing, and $9,999,982 is bet on #1, and $2 each are bet on #'s 2, 3, 4, 5, 6, 7, 8, 9 & 10?, then are the odds on #2 5,000,000-1?
No, horse race bets can pay any odds, although a payout greater than 100-to-1 will be “rounded down” for display purposes on most tote boards. I’ve heard anecdotally of payouts in the $200-to-$300 range, which would be odds to win of a little greater than 100-to-1, but I haven’t been able to turn up any useful information by googling various combinations of “longest odds” and “record payout” and such like. All I get is links to tout sites!
There is no upper limit. Theoretically, it could be as you indicated, but as a practical setup, you’d probably wouldn’t get a million dollar payout on a win bet. There’s only so much handle on a given race, and some bettors will be willing to put a couple of bucks down on a 99-1 shot in any field.
Check out this chart. Scroll down to the ninth race. Note that “Live for Today” went off at 108.25-1 odds. They bettors were right in their analysis – he finished last – but a win would have been a payout of $218.50.
Doing some of my own work, if you go to this link http://sports.sun-sentinel.com/default.asp?c=sun-sentinel&page=horse/breeders/2004/history.htm
and scroll down to 1993, you will see that Arcangues won a race at the Breeders Cup no less going off at 133-1.