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# How do you calculate racing bets?

When you place a bet on horse racing, the key element is the odds of your selection. This determines how much you can win if your bet is a success, which we hope it will be. In this article, we briefly explain what the odds mean, how you can calculate them and why this is an important task to perform:

• What do odds mean?
• How to calculate your racing bets?
• The importance of doing so

## What do odds mean?

The size of the odds that are given by a bookmaker determine how much you can win. They are based on the probability of an event happening. For example, the horse that is most likely in the view of the bookmakers to win will have the shortest odds. Those horses that the bookmakers believe have a low probability of winning will have longer odds. Some horses may be so favoured to win that they are what is called ‘odds-on.’ For example, a horse could be 1.61 (8/13) to win. Any odds less than 2.0 are odds-on. In this example, £1 staked will only win 61p.