This section is under development and will be updated regularlyThis section refers to BACKING selections ( see Betting Types - Backing and Laying ) ,we will cover odds and Laying in a later article.
There are two types of odds on offer. Traditionally a bookmaker would offer you fractional odds like 2/1, this means that if you win the bet you receive 2 times whatever you bet and you would get you stake back. This style of betting used what is known as Fractional Odds.
fractional oddsThis system is gradually being replaced by Decimal odds, but there are still many bookmakers offering these odds. Fractional odds have two parts, the return and the stake. The first number is the return, the second is the stake. If the first number is smaller than the second number then this is called 'Odds On', this means that you stand to lose more than your could win.
The odds are pronounced as '2 to 1' for 2-1 or '13 to 8' for 13/8. When the second part of the fraction is 1 then the calculation is simple, the return is your stake multiplied by the first part of the fraction. If the second number is not 1 then you need to divide your stake by that number, then multiply by the first part of the fraction.
There is also an old betting term called 'evens' or 'even money' which means the return is that same as the stake and should really be stated as 1/1.
evens If you invested £10 at even money, you would get 1 x £10, plus your stake returned = £20
6/4 If you invested £10 at 6/4 (six to four), you would get 6 x (£10 / 4), plus your stake returned = £25
2/1 If you invested £10 at 2/1 (two to one), you would get 2 x £10, plus your stake returned = £30
decimal oddsDecimal odds are much easier to understand and calculate. You just ned to multiply the decimal amount offered by your stake. So if the decimal odds offered are 1, you would be very daft taking that bet because for every £10 you invested the return IF your selection was successful would only be the £10 you had risked!
With decimal odds, you invest an amount, if you lose than that is gone, if you win you get your stake multiplied by the offered decimal value. Examples:
2.00 If you invested £10 at 2.00 decimal odds you would get 2 x your £10 returned = £20
2.50 If you invested £10 at 2.50 decimal odds you would get 2 x your £10 returned = £25
3.00 If you invested £10 at 2.50 decimal odds you would get 2 x your £10 returned = £30