A horse’s betting odds can be a strong indicator of its chances of winning.

Bookmakers typically offer the lowest payout for the horse they believe is most likely to win.

So, as a general rule, the lower the odds, the higher the horse’s chance of winning.

Research over three consecutive years shows that, on average, 33.06% of favourite horses win their races.

To reflect this, the algorithm divides each horse’s odds by the lowest odds in the race, then multiplies the result by 0.3306.