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Calling mathematicians! Random starting prices give me a headache

WHILST I understand the basic starting prices of horses in a race; 1/1 (evens) 2/1, 3/1 etc, can any one enlighten me on how the SP can be 85/40 or 15/84 or 11/8? I am going to assume that 6/2 equates to 3/1 and 5/2 equates to 2.5/1 9/2 equates to 4.5/1 and this being so, how, or more importantly, who comes up with these prices?
I get that in the first stated SP of 85/40 would mean, for every £40 you bet with and the horse wins, you would get £85 as a return plus your £40 stake.
I understand this if I am betting these prices, but for most punters, we are not be able to ...

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