Bookmakers' figures, also known as ODDS, are numerical values used to represent the likelihood of a particular outcome in a given event. ODDS are typically expressed as a ratio or fraction, with the numerator representing the potential winnings and the denominator representing the stake. For example, if the ODDS for a horse race are 3/1, then for every dollar bet, the winner will receive three dollars in return. Bookmakers use these figures to determine the payouts for bets placed on their events.