Probability based on the odds

Here`s how to calculate the probability based on bookmaker`s odds:
The example is with a game from Euro 2008 – Switzerland vs Czech republic. The odds are: 1X2 – 2.87|3.20|2.37
Index 1 (for home win) = 1/2.87 = 0.34843206 (34.84% in percentages)
Index 2 (for draw) = 1/3.20 = 0.3125 (31.25% in percentages)
Index 3 (for away [...]