Here are the odds you will see on horses during any race and the winnings based on a $2 bet

Odds - Payoff

1-9    $2.20
1-5    $2.40
2-5    $2.80
1-2    $3.00
3-5    $3.20
4-5    $3.60
1-1    (aka: even money) $4.00
6-5    $4.40
7-5    $4.80
3-2    $5.00
8-5    $5.20
9-5    $5.60
2-1    $6.00
5-2    $7.00
3-1    $8.00
7-2    $9.00
4-1    $10.00
9-2    $11.00
5-1    $12.00
6-1    $14.00
7-1    $16.00
8-1    $18.00
9-1    $20.00
10-1   $22.00
15-1   $32.00
20-1   $42.00
30-1   $62.00
40-1   $82.00
50-1   $102.00