How do betting odds work?

May 27, 2016

Most online bookmakers will give you the opportunity to view odds in decimals (1.23, 1.4, 4.5 etc) and if you are new to gambling I would certainly suggest you use this setting as it is the easiest way to calculate your winnings – simply times your stake by the odds eg £10 at odds of 1.8 = 10 * 1.8 = £18.00 (£10 stake plus £8 profit).
 
However, the more you delve into the world of gambling, the harder it will be to get away from the traditional fractional odds (13/8, 6/4, 16/1 etc). These can seem as a bit more daunting at first, but they aren’t actually to difficult to work out – times your stake by the total of both sides of the fraction added together (for odds of 6/4 you’d add 6 and 4 to get 10), and then divide by the figure on the right of the fraction. I have put a few examples below to explain:
 
£10 @ 6/4      =   10 x 10 divided by 4 =  £25.00    (£10 stake plus £15 profit)
£5 @ 1/5        =    5 x 6 divided by 5 =    £6.00       (£5 stake plus £1 profit)
£3.50 @ 8/1   =    3.50 x 9 divided by 1 = £31.50   (£3.50 stake plus £28 profit)
 
To work out multiples all you need to do is roll the winnings onto the next selection e.g:
 
£5 on a treble of odds of 2/1 1/1 and 3/1 would work out as:
 
£5 @ 2/1 = £15.
£15 @ 1/1 = £30, then finally
£30 @ 3/1 = £120
 
These are the bare essentials when it comes to knowing how odds work, and I will explain more in future posts. But for the time being….. happy punting.

 

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