How can I work out the odds on horse racing?
You’re only winning on the place element of your bet. Assuming this is UK (or similar) rules and the bet was placed placed with a bookmaker rather than a pool bet the amount of the return will be dependent upon the type of race and number of runners in each race. Assuming that there are sufficient runners in each race for all places to count they are each likely to be settled at either a fifth or a quarter of the win odds you’ve quoted. At a quarter odds for all selections (and in all probability one or more would be only a fifth of the odds) I make the return on the bet 99.7 pence, including the 25p place stake. At these odds it really is not worth backing each way. See the blog below. It’s about soccer but the same bet they use is a good horse racing bet too. Look for their post explaining why they use it.
