My odds-line for my top four contenders is based on what I think each horse’s chances are to win the race. For instance, if I make a horse 4-1, I think the horse’s chances of winning are about 20%, so if the same exact race was run ten times, he’d win it twice. If I make all of the horses about the same odds, that’s an indication that I think the race is wide open, or that I can’t pinpoint a horse that appears to have a clear edge.