The quoted payoff odds of 99 to 1 against a particular horse winning a race suggests the chance that the horse will not win the race.

Odds are a term used to describe the likelihood of an event. The odds are the ratios between the number of possibilities for an event and the number of possibilities for its non-occurrence.

The ratio of the number of possible outcomes to the number of possible outcomes that cannot occur is known as the odds in favor.

Odds in favor = Number of successes: Number of failures.

The ratio between the number of ways an outcome cannot occur and the number of ways it can occur is known as the odds against.

Odds against = Number of failures: Number of successes.

In the question, we are asked that if a bookmaker quotes payoff odds of 99 to 1 against a particular horse winning a race, suggest the chance that the horse will win.

The ratio given to us is 99:1, implying that 99% chance is the failure of the horse, whereas 1% chance is there for the horse winning the race since it is for the odds against a particular horse winning a race.

Thus, the quoted payoff odds of 99 to 1 against a particular horse winning a race suggests the chance that the horse will not win the race.

Learn more about the odds in favor and the odds against an event at