Well obviously it relates to the odds but you gave a very simple set of stats and I gave you the very basic answer based on that.


If you had 2 horses in the race at $100 then your chance of losing is only 2%. So you have a 98% chance of winning.

But if they were both $10 then your chance of losing 20% and your chance of winning is only 80%.

Its pretty easy to work out but useless without more detailed understanding of what you are trying to do and why you want to know it.