Before betting on horse races you have to understand basics about betting odds. For example, you need to know what 4 to 5 odds mean. Horses that are lower than even odds are expressed as a fraction. This can be a bit confusing for racing newcomers or bettors used to sports betting odds, but it’s simple once you understand it.
So, for example, a $10 win bet on a 4-5 favorite returns $18 (5 x $2 (the base unit)=$10, the amount of the original bet, plus 4 x $2=$8).
Essentially, the example above is showing that a winning bettor will receive a return of four units on every five wagered.
The same concept applies to heavier favorites, so a 2-5 odds favorite would return $14 on a $10 bet, for example.