The betting odds percentage table provides an important part in understanding the relationship between what the odds mean in terms of what the betting public view as a particular chance of a horse winning and what you yourself estimate as the chance of success.
As an example the odds of a selection you are interested in backing is 2/1. From the betting percentage table we know that the chance of winning according to the betting market is 33.3%.
The bookmakers build in a profit margin when framing prices for a race and a useful tip is to account for this by multiplying the actual price by 0.95, so 33.3 x 0.95 = 31.6%. This takes account of the bookmakerâ€™s profit margin. If you havenâ€™t got a calculator to hand just take off 2%
In our example the odds of our selections chance is 31.6% (allowing for the bookies profit margin) but you have estimated your selections chance of winning as 40%. Or to put it another way, if the race were to be run in identical circumstances 10 times, your estimate would be that your selection would win the race 4 times, 4 divided by 10 = 0.4. If you were successful backing this selection 100 times and winning on 40 occasions you would win 80 points, 60 bets were losers which would leave you 20 points to the good.
The betting odds percentage table below is invaluable in understanding the relationship between the odds and the chance of winning.
ODDS ON 
ODDS 
ODDS AGAINST 
50% 
EVENS 
50% 
52.4% 
11/10 
47.6% 
54.5% 
6/5 
45.5% 
55.6% 
5/4 
44.4% 
57.9% 
11/8 
42.1% 
60% 
6/4 
40% 
61.9% 
13/8 
38.1% 
63.6% 
7/4 
36.4% 
65.2% 
15/8 
34.8% 
66.7% 
2/1 
33.3% 
69.2% 
9/4 
30.8% 
71.4% 
5/2 
28.6% 
73.3% 
11/4 
26.7% 
75% 
3/1 
25% 
76.9% 
100/30 
23.1% 
77.8% 
7/2 
22.2% 
80% 
4/1 
20% 
81.8% 
9/2 
18.2% 
83.3% 
5/1 
16.7% 
84.6% 
11/2 
15.4% 
85.7% 
6/1 
14.3% 
86.7% 
13/2 
13.3% 
87.5% 
7/1 
12.5% 
88.2% 
15/2 
11.8% 
88.9% 
8/1 
11.1% 

17/2 
10.5% 

9/1 
10% 

10/1 
9.1% 

11/1 
8.3% 

12/1 
7.7% 

13/1 
7.1% 

14/1 
6.7% 

15/1 
6.3% 

16/1 
5.9% 

17/1 
5.6% 

18/1 
5.3% 

19/1 
5% 

20/1 
4.8% 

22/1 
4.4% 

25/1 
3.8% 

33/1 
2.9% 

40/1 
2.4% 

50/1 
2% 

66/1 
1.5% 
Return to Understanding odds from Percentage table