Having (some time ago) had a stab at working out a betting odds on here and fallen flat on my nose (thank you, Stroller for correcting me), I thought I'd add a simple guide (below) for those like me that only bet once in a blue moon and then trust the bloke behind the counter to give me the right winnings. The following guidelines are pretty straighforward (if a little patronising!): "Using Betting Odds to Calculate Probability Whenever you see two numbers separated by a trailing slash, i.e. 10/1, this is known as a fraction. From this, you can calculate how likely a given event is to happen with a calculation. For ease of explanation, let’s replace the numbers with letters i.e. 4/1 becomes A/B. Here is the calculation: Probability (%) = B / (A+B). 9/1 can be calculated as 1 / (9 + 1) = 0.10- There is a 10% chance that the event will happen. 4/1 can be calculated as 1 / (4 + 1) = 0.20 – There is a 20% chance that the event will happen. 1/1 can be calculated as 1 / (1 + 1) = 0.50 – There is a 50% chance that the event will happen. 1/4 can be calculated as 4 / (4 + 1) = 0.80 – There is a 80% chance that the event will happen. Horray! We’re making progress. Given a fraction, we can now tell how likely (the probability) what we’re going to bet on will happen. Now let’s figure out how much money can be won using betting odds. Using Betting Odds to Calculate Winnings Betting odds allow you to calculate how much money you will win if you make a bet. Let’s use the same examples as before, with the same replacement of numbers for letters, i.e. 4/1 becomes A/B. Quite simply, for every value of B that you bet, you will win A, plus the return of your stake. 9/1 for every £1 you bet, you will win £9. 4/1 for every £1 you bet, you will win £4. 1/1 for every £1 you bet, you will win £1. 1/4 for every £4 you bet, you will win £1. What about decimals? Decimals are far more common on exchanges, such as Betfair.com, but all leading betting sites do give you the option to view betting odds in this format. They are an alternative to seeing betting odds in the fraction format, and in our opinion, are easier to work out. Here is the calculation: winnings = (odds * stake) – stake. Let’s illustrate it with some examples 9.0 can be calculated as (9.0 * £10 stake) – £10 stake = £80 winnings. 4.0 can be calculated as (4.0 * £10 stake) – £10 stake = £30 winnings. 2.5 can be calculated as (2.5 * £10 stake) – £10 stake = £15 winnings. 1.25 can be calculated as (1.25 * £10 stake) – £10 stake =£1.25 winnings. That’s it! Hopefully that clears up betting odds." Don't gamble unless you know the facts. Being responsible about gambling means knowing whether to gamble, how much money or how much time. Visit Gambleaware.co.uk for more information. We try hard to make sure that the site is up to date at all times. However, sometimes thing happen beyond our control. Therefore, we can take no responsibility you take as a result of information on this site (which does not constitute advice) and always recommend you to check terms and conditions before placing any bet. © 2015
Good little guide for those who like the odd flutter. As with most things, anything to excess is best avoided. I enjoy a day out at the races or dogs, it's good fun and you don't need to be putting oners down on each race to enjoy things.
I usually have a couple of little £2 6/7 team accumalators & maybe a quid on a silly goal rush 13 team ( just like the #13) ...havent won s hite but it makes you interested in the other scores!!! & you never know ..one day you may win a few grand !!! that lady last week somewhere in London won 16k on a £2 5 team acc she had Reading, Bradford, Middlesboro, Palace & Leicester all down to win awy in the cup.............why you would put that bet down in the 1st place seems like madness......but she won!
