horse racing betting odds are usually found in which form?

Question

Odds are an important and integral part of horse racing betting, one cannot hope to bet on horse races without having good knowledge of odds. Can you help me know, horse racing betting odds are usually found in which form?

Answer 1

The odds are usually in the form of x/y (e.g. 5/1, 9/5). Dividing x by y gives a ratio to 1. The smallest ratio or the largest amount of money on a number represents the favorite.

Winning odds of 2/1 will pay $6.00 for a $2 bet, while 5/1 will pay $12.00 for a $2 bet. Payout is calculated by (odds ratio to 1) x bet amount + bet amount.

Example: For odds of 5/1, the approximate payout for a $2 bet is 5 x $2 = $10 + $2 = $12.s