Let 5 horses are H1,H2,H3,H4 and H5.
Selected pair of horses will be one of the 10
pairs (i.e.; 5C2):H1H2,H1H3,H1H4,H1H5,H2H3,H2H4,H2H5,H3H4,H3H5 and H4H5.
Any horse can win the race in 4 ways.
For example : Horses H2 win the race in 4 ways H1H2,H2H3,H2H4 and H2H5.
Hence required probability = 104=52