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how do horse racing odds work
Horse racing odds represent the probability of a horse winning a race and are expressed as a ratio. For example, odds of 3/1 indicate that the horse is three times more likely to lose than to win. The higher the odds, the less likely the horse is to win. Odds can be used to determine the potential payout for a bet. If you bet $1 on a horse with odds of 3/1 and the horse wins, you will receive $4 (your $1 bet plus $3 winnings). However, if the horse loses, you will lose your $1 bet. ...