If you signed up with a guaranteed odds promotion and made a qualifying wager, you will get an initial payout from the track at their final odds. You will then receive wagering credit from TVG for the difference between the track payout and the guaranteed odds.
A $5 wager at 50/1 should pay approximately $255. If the horse's final track odds are 2/1, they will pay you approximately $15. Then, TVG will credit your account the other $240.
The TVG credit may take several hours and will show as a Promotion in your Account Summary, not your Bet History.
Like all promotion bonuses, it is a wagering credit, not eligible for withdrawal.
Only your first qualifying wager, up to the promotion amount, will be eligible for the guaranteed odds. So if the offer is for a $5 wager, and you make a $2 wager and then a $3 wager, only the first wager (for $2) will be eligible. The Win portion of Win/Place, Win/Show, and Win/Place/Show wagers is eligible.
If your horse loses, there is no payout and guaranteed odds do not apply.