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Horse racing odds represent the probability of a horse winning a race, expressed in a numerical format that indicates potential payouts. These odds fluctuate based on factors like the horse's past performance, jockey skill, and betting patterns. For example, odds of 5/1 mean that for every $1 wagered, a bettor would win $5 if the horse finishes first. Understanding these odds is crucial for bettors, as they not only reflect the horse's chances but also influence betting strategies and potential returns. Ultimately, they play a vital role in the excitement and unpredictability of horse racing.

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