| The odds or price is the conversion rate
you are betting at and enables you to know how much you will get
back and how much profit you will make if you win.
There are two types of odds commonly used
in Europe:
1. Fractional
2. Decimal
Of the two you are probably more familiar with the first but
it is wise to understand both and be conversant with both.
 FRACTIONAL:
(eg. 2/1, 15/8, 7/2) |
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The right hand number
indicates your stake, whilst the number on the
left indicates your profit. Eg. 2/1 for every
£1 you stake you will make £2 profit
if the horse wins (if you add the two numbers
together it will give you your overall return,
in this case £3, your £1 back and
your £2 profit).
You can also have "odds on" bets these
can be easily spotted by the fact that the right
hand number is greater than the left hand number.
An example of this would be 1/2, 4/11, 2/7.
Here the same principal applies. The right hand
number represents your stake and the left hand
number your profit. So in this case you must
stake £2 in order to make £1 profit
(your return in this case will still be £3).
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| DECIMAL
ODDS: (eg. 3,2.9,4.5) |
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The odds give you exactly
the same information, but presented in a different
way. They work on the fact that your stake is
1 and the decimal number represents your return.
Therefore the example 3 is the same as 2/1,
likewise 2.9 is the same as 15/8 and 4.5 the
same as 7/2. To convert a decimal odd to a fractional
odd simply deduct 1. So 4.5 becomes 3.5/1 which
is the same as 7/2. It is important to remember
that 2 represents even money 1/1 so anything
lower than 2 is odds on.
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