As promised
Thanks Keef - you have saved quite a bit of the the 'grunt work' !!
Taking Keef's excellent work, it could be improved as follows:
Select the odds column D8:D29, hit delete. With D8:D29 still selected click Format, Cells..., Number. Click the Custom category and in the Type box enter: ?/? and click OK. This allows you to enter odds as fractions eg 5/1. However it will reduce odds to their lowest value ie 15/3 would appear as 5/1. To make odds appear exactly as entered is possible, but more long winded.
At this stage I have broken Keef's spreadsheet, so the following repairs need to be made:
Select cell E8 and enter the formula: =C8*D8. Copy this down (Ctrl+Shift +Down Arrow together, then Ctrl+D).
As a further enhancement you could add a 'Race Won?' test:
In G6 enter the text: Race Won?
In cells G8:G29 add: TRUE or FALSE as appropriate.
Then change the formula in F8 to: =IF(G8,B8+C8+E8,B8-C8) and copy it down using the technique above. (This assumes that if you lose you only lose the stake and not the whole pot).
Hope this helps
EG