Hi all. I cant seem to get my head around this one. I will try and write it as it was explained to me.
Is it possible to work out the Probability of e.g Who will win a race based on an individals odds measured against each others, in decimal.
i.e
1. 9.9%
2. 32%
3. 19%
Their odds are as above. Looking at that, to me the probability of 2 winning is high. But his odds are based on previous form, and the one we expect to win, doesn't always win.
Is it possible to work out the probability based on their previous form and that of those on the field around them.