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Odds expressed in terms of money, withR$100 being the standard. If the odds are minus ( ), then that amount of money must be wagered to winR$100. (e.g. 150 means you must betR$150 to winR$100.) If the odds are plus (+), that amount of money would be earned on a successfulR$100 wager.

Odds of +200 mean that if you betR$10, you would profitR$20 on a winning bet, for a total return ofR$30.

For example, 3/1 odds mean you profit three times the amount you wagered. AR$1 bet at 3/1 would pay outR$4 in total, or aR$3 profit and yourR$1 original wager. Conversely, 1/3 odds mean you profit a third of what you wagered. AR$30 bet on 1/3 odds would returnR$40 total, or aR$10 profit and yourR$10 original wager.

If a race horse runs 100 races and wins 25 times and loses the other 75 times, the probability of winning is 25/100 = 0.25 or 25%, but the odds of the horse winning are 25/75 = 0.333 or 1 win to 3 loses.