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Reading the Odds Board
Horse Racing Odds
Horse racing uses fractional odds in the UK and decimal odds in Australia. The tote (pari-mutuel) system pools all bets and divides winnings among winners.
| Odds | Implied Probability | Return on $10 bet |
|---|---|---|
| 1/1 (Evens) | 50% | $20 |
| 2/1 | 33.3% | $30 |
| 5/1 | 16.7% | $60 |
| 10/1 | 9.1% | $110 |
Starting Price (SP) is the official odds at race time. Early prices can offer better value if you spot an underrated horse.
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