Question

Jack bets €8 on horse A. The odds of winning on horse A are 5/4. Horse A wins the Race. Hoe much does Jack win overall

Answer 1

Answer:

14.4 €

Step-by-step explanation:

Odds of horse A winning the race = 5/4

We know that

If odds for an event is a/b then the probability of the event is $\frac{a}{a+b}$

Therefore, probability of horse A winning the race = $\frac{5}{5+4}$ = $\frac{5}{9}$

Therefore, for every €5 bet on horse A, Jack will get €9

Thus, for a bet of €8, Jack will get = $\frac{9}{5} \times 8$

                                                          = 14.4 €