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It means that in 21 cases of the event there will be 17 of one outcome and 4 of another.

In terms of racing bets, it means the bookie will give you 17 for every 4 you bet; the bookie will fix the odds they offer so that even if you were to bet on every possibility you would end up losing.

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9y ago
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Q: What does 17-4 odds mean?
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