Horse Racing Odds

The odds in horse racing are a vital element no matter what race you are studying. Without considering the odds there is no way you can be assured you are getting value - in the context of horse racing odds, value is when you are getting greater odds for the horse than the price you believe it should be. This of course means understanding the odds and the various formats they are shown in is very important.

Horse racing odds conversion table
Converting SP odds to exchange prices
Odds in the system builder
Odds statistics

Horse Racing Odds Conversion Table

Listed below is a handy reference displaying fractional odds versus their numerical counterpart (rounded to 2 decimal places). It is important to note that decimal odds may sometimes be displayed (for example when using Betfair) with the stake included, all this basically means is you are adding one to the actual odds. eg 2/1 instead of being displayed as 2.00 would become 3.00

Odds of 2/1 and less

Odds Fraction	Odds Decimal
1/40	0.03
1/25	0.04
1/20	0.05
1/16	0.06
1/14	0.07
1/12	0.08
1/11	0.09
1/10	0.10
1/9	0.11
2/17	0.12
1/8	0.13
1/7	0.14
2/13	0.15
1/6	0.17
2/11	0.18
1/5	0.20
2/9	0.22
1/4	0.25
2/7	0.29
30/100	0.30
1/3	0.33
4/11	0.36
2/5	0.40
4/9	0.44
40/85	0.47
1/2	0.50
8/15	0.53
4/7	0.57
8/13	0.62
4/6	0.67
8/11	0.73
4/5	0.80
5/6	0.83
9/10	0.90
10/11	0.91
Evens	1.00
11/10	1.10
6/5	1.20
5/4	1.25
11/8	1.38
6/4	1.50
13/8	1.63
7/4	1.75
15/8	1.88
2/1	2.00

Odds greater than 2/1

Odds Fraction	Odds Decimal
85/40	2.13
9/4	2.25
5/2	2.50
27/10	2.70
11/4	2.75
3/1	3.00
100/30	3.33
7/2	3.50
4/1	4.00
9/2	4.50
5/1	5.00
11/2	5.50
6/1	6.00
13/2	6.50
7/1	7.00
15/2	7.50
8/1	8.00
17/2	8.50
9/1	9.00
10/1	10.00
11/1	11.00
12/1	12.00
14/1	14.00
15/1	15.00
16/1	16.00
18/1	18.00
20/1	20.00
22/1	22.00
25/1	25.00
28/1	28.00
33/1	33.00
40/1	40.00
50/1	50.00
66/1	66.00
80/1	80.00
100/1	100.00
125/1	125.00
140/1	140.00
150/1	150.00
200/1	200.00
250/1	250.00
300/1	300.00
400/1	400.00
500/1	500.00
1000/1	1000.00

Converting SP odds to exchange prices

A member contacted us to request that instead of the Starting Price Odds being included in the Horse Racing Systems download area, the Betfair Estimated Odds Calculation was used instead.

The code to actually offer this as an option would significantly slow down the excel download, therefore if you do wish to do this it is best to use an Excel formula to create the estimated Betfair Odds.

This can be done by adapting the following formula in Excel to suit your requirements. Note in this example the numerical odds are in column D (which is why the formula refers to cell D2). The percentages should be changed to reflect what you believe is the realistic mark up in terms of the price available on Betfair compared to Official Starting Price in each odds range.

Excel Formula to Create Estimated Betfair Odds

=ROUND(IF(D2<1,D2*108%,IF(D2<3,D2*109%,IF(D2<6,D2*110%,IF(D2<11,D2*111%,IF(D2<17,D2*112%,IF(D2<34,D2*114%,D2*116%)))))),2)

Odds in the horse racing system builder

With the Odds setting, you can specify an odds range as required. Your selection will limit the query to horses who had a starting price within the chosen range.

Choose between 11/8 & 7/2 to select only horses with a starting price equal to or between 11/8 and 7/2.
Choose between 11/8 & 11/8 to select only horses who had this exact starting price.
Selecting between 2/1 & 5/2 in the Odds (3LR) setting, limits query to horses who had a starting price equal to or between 2/1 and 5/2 on their third last run.

Decimal Points Ahead

This category allows you to examine the decimal points in starting odds compared to the next runner in the market. As an example if a horse was 25/1 and the next in the betting was 50/1 then the horse being tested is 25 decimal points ahead.

This test would most commonly be used to query favourites (example looking for Favourites who were 5 points or more ahead of next in market, you would set between 5 and 500).
Values are rounded up to create a proper test- this is very important to note as for example a 3/1 shot followed by a 10/3 horse would be classified as 1 decimal point ahead.
Setting between 2 and 5 means you are limiting the system to horses who were between 2 and 5 decimal points (rounded up) ahead.
Setting between 0 and 0 means the horse was the longest priced in the market (this should be used on its own only and not as part of a between range).

Position In Market

With this category you can limit your query to horses who were a certain position in the market. This is worked out by taking the shortest priced horse and setting as 1 and so forth. If in a 4 horse race there were 3 horses at Even money, the final horse would be 4th position in the market.

To only include horses in the top 3 in the market set between 1 and 3.
To only include horses who were 8th in the market set between 8 and 8.

Odds statistics

As part of our horse racing statistics directory you will find a section devoted to odds.

This page loaded in 0 seconds