How do i work out odds and wins?

Question

how do i work out the odds in horse racing

for example is 9/14 chances in winning good and 1/14 is bad chances in winning

also if there is a horse that has 1/12 chances in winning and i bet £5 and that horse wins will i won 5 times 12

finiall question if there are five people that bet on one horse and the horse wins are the winnings split between them all or do they all get the maximim prize

Answer 1

Don't confuse odds with chances of winning.

Take this example:

http://www.paddypower.com/bet?action=go_...

James Blake is 66/1 which means £1 bet wins £66 (+ stake of £1), he is these odds because he has very little chance of winning the tournament (if the tournament was run 67 times only one time he would win).

Rafael Nadal is 10/3 which means £1 bet wins £3.33 (+ stake of £1) he is these odds because he has a decent chance of winning (if the tournament was run 11 times he would win 3 times).

Roger Federer is 4/7 which means £1 bet wins £0.57 (+ stake of £1) he is these odds because he has a very good chance of winning (if the tournament is run 11 times he would win 7 times).

Your Qs:

If a horse has a 9/14 chance of winning his odds would be 5/9. Good chance of winning but little value.

If a horse has a 1/14 chance of winning his odds would be 13/1. Little chance of winning but good value.

If a horse has a 1/12 chance of winning his odds would be 11/1, so a £5 bet would get you £60 (55+5 stake)

Hope this helps. Good Luck.