Question

In a given race the odds in favour of horses A,B,C,D are 1:3,1:4,1:5,1:6 respectively. the probability that horse C wins the race is

Answer 1

Answer:

The probability is 1/6   (5 chances of losing and 1 chance of willing)

Example: (1:1) is even odds with 1/2 chance of winning

(1:2) is one chance of winning and 2 chances of losing, etc.

At 2-1 odds you expect to get 6$ back on a 2$ bet (6$ back - 2$ bet) = 4$