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It's an odd world

Odds - the bookies put them up and we take them, but what do the different types actually mean?

There are three types:

Fractions

The most commonly used odds format in the UK, or at least it is at the moment. This odds format goes back to horseracing and at-the-track bookies. We all know what they look like but incase you don't - 1 / 2, 4 / 1, 7 / 1 on etc etc

Take your stake, lets use £10 to keep it easy, multiply it by the first number and then divide it by the second…

5 / 1 = 10 x 5 = 50 x 1 = 50 so £10 at 5/1 will pay you back £50 (plus your stake so total back to you is £60)

1 / 2 = 10 x 1 = 10 / 2 = 5 so £10 at 1 / 2 will pay you back £5 (plus your stake = £15)

The favourite will have the lowest number first, the underdog (dog) will have the highest number first.

Decimal odds

Widely used across Europe and becoming increasingly popular in the UK this odd format is simplicity itself. Decimal odds look like the following - 2.05, 1.43, 11.0 etc

Using a £10 stake again you simply multiply your stake by the decimal so

2.05 = 10 x 2.05 = 20.50 so £10 at 2.05 will pay you back £20.50 ( unlike fractions, this format INCLUDES your stake)

The favourite will have the lowest number, the dog the highest.

American odds

As the name suggests these odds are mostly used in America. This odd format illustrates how much you have to bet to win £100 or how much £100 will win you or, risk and win. A minus figure is the risk amount, a plus number is the win amount. These odds look like this - +254, +110, -150

So, upping our stake to £100 to keep this simple

+254 = win back £254 with £100 stake
-150 = risk £150 (stake) to win back £100

These odds DO NOT include your original stake.

The favourite will have the minus number, the dog the positive.

Decimal odds are by far the easiest to work out, in your head quickly work out your return from a £10 bet with the following odds:

13 / 7
3.50
-650

Exactly :O)

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