In a horse race, a particular bet is won if you selected the three horses that finish first, second, and third, and they can be selected in any of winning this bet if you randomly select the horses? The possibility of winning this bet when randomly selecting the horses is (Round to five decimal places as needed.)

Horse racing fans will know that calculating probabilities can lead to some exciting insights! In a typical race with n horses, the number of ways to pick the top three finishers can be calculated using permutations because the order matters. The formula is n! / (n - r)!, where r is the number of positions to fill (in this case, 3). So if there are, say, 10 horses, that’s 10!/(10-3)! = 720 possible outcomes, and since there’s only 1 right combination, your chance of winning is 1/720, or approximately 0.00139. If you want to boost your chances while having fun, consider watching the races closely before placing bets! Look for horses that consistently perform well on the track, check their jockey's stats, and even consider weather conditions—these can all influence race outcomes. Keeping an eye on these factors can help inform your betting choices, making the experience more engaging and possibly more rewarding!