What Is Meant by Odds On & Odds Against?
If an event in betting is more likely to happen than not (i.e. a football team winning a match or horse finishing first in a race), you will see the odds swing in its favour.
This is referred to as “odds on”. In short:
• The profit from placing this bet will be lower than the stake.
• In fractional terms, the first number will always be lower than the second. For example, a team with odds of 1/2 are more likely to win than one at 6/5.
• In decimal form, the odds will always be lower than 2.00. For example, a team that is 1/100 to win will be shown as 1.01.
In practical terms, your flutter on a 1/2 bet would calculate like this: £2 bet on Sunderland = £1 profit + £2 stake = £3 return
In decimal form, this bet would be 1.50. £2 bet on 1.50 = £3 full return.
You might also see odds against, which is when an event is less likely to occur than not. In short:
• The profit from placing this bet will be bigger than the stake.
• In fractional terms, the first number will always be larger than the second. For example, a horse 4/1 to win a race is less likely to win than one at 8/11.
• In decimal form, you will always see a number larger than 2.00. For example, a team that is 13/2 to win a game will be shown as 7.50.
If you were to place a £2 bet on Aston Villa to get relegated at 11/2, your winnings would be divided like this: £2 bet on Aston Villa = £11 profit + £2 stake = £13 full return
In decimal form, this would be 6.50. £2 bet on 6.50 = £13 full return
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Click here to learn more about fractional and decimal odds.