## Understanding Odds

What the numbers mean

There are two ways odds – or prices – are displayed at racecourses in Britain: the traditional fractional system or the more recently introduced decimal system.

**Fractional odds:**

These are usually displayed in this format: 4/1.

In spoken form this is “Four-to-one” and sometimes this can be written as: 4-1.

Odds are just maths. To illustrate some examples, let’s call each number a unit. So:

4/1: For every 1 unit you stake, you will receive 4 units if you win (plus your stake).

7/2: For every 2 units you stake, you will receive 7 units if you win (plus your stake).

9/4: For every 4 units you stake, you will receive 9 units if you win (plus your stake).

If you see fractional odds the other way round – such as 1/4 – this is called odds-on and means the horse in question is a hot favourite to win the race.

In spoken form this is “Four-to-one on”.

1/4: For every 4 units you stake, you will receive 1 unit if you win (plus your stake).

1/2: For every 2 units you stake, you will receive 1 unit if you win (plus your stake).

Sometimes you will see Evens or EVS displayed. This is the equivalent of a 1/1 fraction. Again it means the horse in question is expected to win the race.

EVS: For every 1 unit you stake, you will receive 1 unit if you win (plus your stake).

**Decimal odds:**

These are usually displayed in this format: 5.00.

5.00: Simply multiply this number by your stake to calculate your total potential returns if you are placing a win bet. Unlike fractional odds, your stake is already factored into this price i.e. this is the equivalent of 4/1 plus the 1 unit you stake.

**Favourites:**

Each race has a favourite. This is the horse most likely to win, which is reflected in having the shortest price displayed with betting operators.

You will see an F alongside the horse’s odds when they are the favourite. If more than one horse has the same odds of winning according to the betting market, this will be displayed as JF, meaning joint-favourite.

**What about odds when betting each-way?**

Racecourse bookmakers operating at Jockey Club Racecourses must meet (or exceed in the customer’s favour) a standard set of terms if you decide to place an each-way bet.

You will appreciate it is not affordable for bookmakers to pay out on all four places in a four runner race (!) so these agreed terms concerning place part of your each-way bet have to vary dependent on the number of runners and type of race. These are:

• Races with 3 or runners: win bets only, unless the bookmaker chooses to offer 1/5 (one fifth) of the stated odds for finishing 1st or 2nd

• Races with 3 or 4 runners: 1/5 (one fifth) of the stated odds for finishing 1st or 2nd

• Races with 5 to 7 runners (inclusive): 1/4 (one quarter) odds for finishing 1st or 2nd

• Races with 8 or more runners: 1/5 odds for finishing 1st, 2nd or 3rd

• Handicap races with 12 to 15 runners (inclusive): 1/4 odds for finishing 1st, 2nd or 3rd

• Handicap races with 16 to 21 runners (inclusive): 1/5 odds for finishing 1st, 2nd, 3rd or 4th

• Handicap races with 22 or more runners: 1/4 odds for finishing 1st, 2nd, 3rd and 4th

Understanding Odds What the numbers mean There are two ways odds – or prices – are displayed at racecourses in Britain: the traditional fractional system or the more recently introduced

## What do 8/11 odds mean

Odds can be displayed in two ways: **Fractions** or **Decimals**

You will probably be most familar with odds as fractions (e.g. 3/1). However, you can choose to display them as decimals (e.g. 4.00) if you wish.

Below is a table highlighting the difference between the two:

WhatВ does it mean?В

Place ВЈ/в‚¬1 euro to return ВЈ/в‚¬4 (ВЈ/в‚¬3 euro winnings + ВЈ/в‚¬1 stake)

Place ВЈ/в‚¬1 euro to return ВЈ/в‚¬5 (ВЈ/в‚¬4 euro winnings + ВЈ/в‚¬1 stake)

Place ВЈ/в‚¬2 euro to return ВЈ/в‚¬13 (ВЈ/в‚¬11 euro winnings + ВЈ/в‚¬2 stake)

Whenever you see two numbers separated by a slash, i.e. 10/1, this is a fractional betting odd.

Fractional odds allow you to calculate how much money you willВ win on your bet in comparison to you stake. The number on the left(e.g. 10)В is how much you will win. The number on theВ right is how much you need to stake.

**9/1** for every ВЈ/в‚¬1 you bet, you will win ВЈ/в‚¬9. This can also be calculated as 1 / (9 + 1) = 0.10 – There is a 10% chance that the event will happen.

**1/1** for every ВЈ/в‚¬1 you bet, you will win ВЈ/в‚¬1. This can also be calculated as 1 / (1 + 1) = 0.50 – There is a 50% chance that the event will happen.

**1/4** for every ВЈ/в‚¬4 you bet, you will win ВЈ/в‚¬1. This can also be calculated as 4 / (4 + 1) = 0.80 – There is a 80% chance that the event will happen.

Whenever you seeВ oddsВ displayed in numeric formВ i.e. 9.00, this is a decimal betting odd.

Decimal odds allow you to calculate how much money you will be returned should your bet win. Simply multiply your stake by the decimal number shown and that is how much you will receive – including your stake. The decimal odds are displayed up to 2 decimal places, but the return will be paid out by calculating at the actual odds, to the nearest ВЈ/в‚¬ 0.01. For example, if your bet is placed at odds of 4.3333333 (this is 10/3 in fractional), a ВЈ/в‚¬ 10 bet would return ВЈ/в‚¬ 43.33 if it wins, but your odds would show as 4.33.

**9.00** В for every ВЈ/в‚¬1 you bet, you will win ВЈ/в‚¬8. You will also receive your ВЈ/в‚¬1 stake back so your total return is ВЈ/в‚¬9.

**2.00** В for every ВЈ/в‚¬1 you bet, you will win ВЈ/в‚¬1. You will also receive your ВЈ/в‚¬1 stake back so your total return is ВЈ/в‚¬2.

**1.25** В for every ВЈ/в‚¬4 you bet, you will win ВЈ/в‚¬1. You will also receive your ВЈ/в‚¬4 stake back so your total return is ВЈ/в‚¬5.

What do 8/11 odds mean Odds can be displayed in two ways: Fractions or Decimals You will probably be most familar with odds as fractions (e.g. 3/1). However, you can choose to display