Timeform is a company that provides information and analysis for horse racing. One of their products is the betting forecast, which is an estimate of the probable odds for each runner in a race, based on their ratings and other factors.

According to Timeform, they compile their betting forecast using the following steps: – They assign a rating to each horse based on their past performances, adjusted for weight, distance, going, and other variables. The rating reflects the horse’s ability and potential to win the race.
– They convert the rating into a probability of winning, using a formula that takes into account the number of runners, the standard deviation of the ratings, and the overround (the margin that bookmakers add to the odds).
– They adjust the probability for each horse based on other factors, such as trainer form, jockey bookings, market moves, and any relevant news or information.
– They convert the probability back into odds, using a formula that ensures the total percentage of the odds is equal to 100% (or slightly higher to account for the overround).
– They round the odds to the nearest standard fraction, and display them in the betting forecast.

The betting forecast is not a prediction of the actual odds that will be offered by the bookmakers, but rather a guide to help bettors assess the value of each runner. The betting forecast is updated regularly to reflect any changes in the ratings, probabilities, or other factors.🐎.