Say Epitaph is at 5:1, Valentine at 6:1, and Paul Revere at 7:1. But those bets are Win bets only, aren’t they? Or do the monies bet on exotics (exacta, trifecta, superfecta, yada yada) also play into their odds? Like, can I calculate every exacta payout based on their Win odds alone? Will every exacta in which the finishers left the post with 5:1 and 6:1 odds pay the same payout?
All the exotic bets have pools of their own, possibly with different percentages taken out. There is a relationship between the win prices and the expected exotic dividends. For average size fields that don’t include a short priced favorite they are usually fairly predictable. However, as they are still just a share of the pool they are not entirely uniform. In Australia there are 3 different state totes betting on most races so you get 3 different dividends for each exotic. Often they are very similar, sometimes with outsiders placing, they are wildly different.