In a two horse race, an online betting parlor has Horse A at 9/4 odds and Horse B at 13/8. Meaning what?

Question

In a two horse race, an online betting parlor has Horse A at 9/4 odds and Horse B at 13/8. Meaning what?

Answer 1

It means if you bet horse A to win you will get 9 units of currency back for every 4 that you put up, and if you bet B to win you will get 13 for every eight.  Oddsmakers go to those types of fractions when the payouts are in between more standard numbers.  i.e, horse A pays better than 2-1 but not as well as 3-1, so the closest fractional representation is 9/4.  Likewise, horse B will not pay quite 2-1, but still offers better than even money.  A $2 (2 pound, 2 euro, etc) bet on A will pay $6.50 or slightly higher, while a $2 wager on B will pay around $5.20.

Answer 2

if you wager 4 on horse a...you get back 13

if you wager 8 on horse b....you get back 21

but if you wager 4 on horse b.....you get back 11

so horse b has lower odds than horse a..........

Answer 3

It means FILL YOUR BOOTS!!!

Have a million on both of 'em and you'll make a profit, whichever horse wins!!!