If we have a 10 runner horse race and we perceive the probabilities of winning the as follows...
Horse 1 35%
Horse 2 15%
Horse 3 10%
Horse 4 10%
Horse 5 10%
Horse 6 5%
Horse 7 5%
Horse 8 4%
Horse 9 3%
Horse 10 3%
how would formulate the chance of a single horse finishing either first, second or third? Or would the probabilities of winning the race not be enough?
p.s. I'm no maths expert so a dumbed down version would do if possible.
Thanks,
Adam.


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