It means that the odds are 4 to 1 against winning. This would translate into a 20% chance of winning.
No, because that is odds-on.
It means a horse that is not likely to win, or that the odds are stacked against him.
ML stands for Morning Line. It mean the "line" or predicted odds for the horses in the race. Actual odds are determined by the amount actually bet on each horse. The track handicapper sets the morning line.
An exacta is a type of bet where you pick the horses who will finish first and second, in that order ("exact").
In horse racing in Australia and New Zealand, TAB is an acronym that stands for Totalisator Agency Board. Totalisator refers to the large tote boards that calculate and display the betting odds at racetracks.
In horse racing the odds are determined by the bets placed. Betting stops when the race starts. These determine the final odds.
Sky racing is horse racing and some tips include following the odds of the specific horse, and looking for the best bets. The sky horse history and the owner's track record can also be useful tools for knowing where to bet one's money.
Have a look at the related link for information on horse racing betting
If the odds of a horse winning a horse race are 2 to 7 then the odds against that horse winning the race are 7 to 2.
If you are a better handicapper then everyone else, then yes you can make money but the odds are against you.
First look at the racing form and the odds of each race. Then read about the jockey that is riding the horse you our betting on. Both th odds and the Jockey's past races are the main knowledge needed. How many times did the horse win in the past and with each win who was the jockey riding the horse and is the jockey's weight less as the more weight the horse must carry the less chance of the horse winning first or second or even third place..