When you look at a program you will see odds listed for every horse, but those are just the morning line odds that have been set by the track handicapper.
That means that the odds are determined by the bettors.
Plans to build a new stadium in Manchester were formulated before 1989 as part of the city's bid to host the 1996 Summer Olympics.
Manchester City Council submitted a bid that included a design for an 80,000-capacity stadium on a greenfield site west of Manchester city centre. Four years later the city council bid to host the 2000 Summer Olympics, but this time focusing on a brownfield site 1.6 kilometres (0.99 mi) east of the city centre on derelict land that was the site of Bradford Colliery, known colloquially as Eastlands.
Because the odds are determined in this way, they will change throughout the betting period before the race. It is not uncommon to see a horse that ends up as a longshot start off as the favorite if someone makes a large bet on him to win right when betting opens.
Conversely, a favorite can look like a real bargain at the start of betting - he may be 30/1 20 minutes before the race, but end up at 2/1 by post time.