--- title: "What does A/E mean? — RatingTheRaces Support" description: "A/E, Actual over Expected, compares how often a horse, trainer or jockey actually wins against how often the market expected them to. Over 1 is a value signal." url: https://ratingtheraces.com/understanding-the-ratings/ae-statistic/ date_modified: "2026-08-04" --- [Help Centre](https://ratingtheraces.com/support/) / [Understanding the Ratings](https://ratingtheraces.com/understanding-the-ratings/) /What does A/E mean? # What does A/E mean? Concept premium / professional new A/E stands for Actual over Expected. It compares actual wins against the wins the betting market expected, so a figure above 1 means more winners than the prices predicted. **A/E stands for Actual over Expected**, and it's one of the sharpest stats on the ratings because it measures results against the market's own expectations rather than a raw strike rate. ## How it works Every runner goes off at a price, and that price implies a chance of winning (a 2/1 shot is implied to win about a third of the time). Add those implied chances across a set of runners and you get the number of winners the **market expected**. Compare that to the number that **actually** won: > A/E = actual winners ÷ expected winners - **A/E above 1** means more winners than the prices predicted, so this horse, trainer or jockey has been **beating the market**, a value signal. - **A/E of 1** means results are exactly in line with the prices. - **A/E below 1** means fewer winners than expected, so they've been **over-bet**. ## Why it beats a plain strike rate A 10% strike rate sounds poor, but if those runners were mostly big prices and 10% still beat what the market expected, that's a profitable angle. A 30% strike rate looks strong, but if they were all short favourites expected to win 40% of the time, they've been losing you money. A/E cuts through that by always judging results against the price, so it rewards genuine value rather than just frequent winners. On the ratings you'll see A/E figures in the stats columns, including the **Combined A/E**, which blends the individual A/Es. Every stats column is defined in the [ratings columns reference](https://ratingtheraces.com/understanding-the-ratings/ratings-columns-reference/). Want the deeper dive with worked examples? See our blog post [What is the A/E statistic?](https://ratingtheraces.com/blog/what-is-the-ae-statistic/) Was this article helpful? ### Related articles [ ### What do the R figures (R1 to R10) mean? R figures are RatingTheRaces calculated performance figures for each run, R1 is the most recent outing, working back through R2 to R10 for older form. ](https://ratingtheraces.com/understanding-the-ratings/r-figures/)[ ### What do AV3, AV10 and their ranks mean? AV3 is the average of a horse's last 3 R scores and AV10 the last 10, smoothing recent form; the matching ranks compare every runner across the race. ](https://ratingtheraces.com/understanding-the-ratings/av3-av10/)[ ### What is the R1 Rank? R1 Rank ranks every horse in a race by its most recent R1 performance figure, so you can instantly spot the runner arriving in the sharpest current form. ](https://ratingtheraces.com/understanding-the-ratings/r1-rank/)