The way to do this properly, is to divide the price , not the odds into the takeout amount.
It increases the POT over a series of bets.
It also keeps the outlays down, especially on really short priced runners.

Example.No.1
Over 2 races. Betting to Price (Decimal Odds).
R1. $2.50 / 1000 = O/L $400 loses . Ret $00
R2. $6.00 / 1000 = O/L $167 win . Ret $1000.00
Profit +$433 (567-1000)
POT 76.36% (433/567)

Example No.2
Over 2 races Betting to Odds (Fractional Odds).
R1. 1.5/1 (2.50) / 1000 = O/L 667 loses. Ret $00
R2. 5/1 (6.00) / 1000 = O/L 200 wins . Ret $1200
Profit +333 (867-1200)
POT 38.40% (333/867)

One can see the difference.
The thing to focus on is the POT%.


One can bet to price using 2 or more horses a race also.

When doing this comparative exercise, its best to run it over 2+ races to get a proper comparative feel for the difference, because one is usually betting more than just 1 race & it's at the end of the day, when all the percentages come together.

This is the way bookies do their figures & is considered to be the best way to place ones bets rather than level stakes betting, according to book makers.

It keeps the figures to a comparative balance to one another & it's this comparative nature that allows the Bookmaker to create a book percentage against us, because he has to book the field and we don't .
That's the difference between us & them.

Cheers.

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Cheers.