Odds on horse are 2 to 9; find potential gains for $12 bet

In a horse race, the odds for the horse (name withheld!) to win are 2 to 9.
What are the potential gains of someone betting $12 for (name withheld!):
a) to lose
or
b) to win the race.

Using concepts about odds for and against, explain fully why one amount if greater than the other.

Click to expand...

Cherryblaster said:

So, I've been having a lot of trouble with this large assignment that the deadline is coming up far too soon. I was hoping someone could help me with it.

In a horse race, the odds for the horse (name withheld!) to win are 2 to 9.
What are the potential gains of someone betting $12 for (name withheld!):
a) to lose
or
b) to win the race.

Using concepts about odds for and against, explain fully why one amount if greater than the other.

Click to expand...

Click to expand...