Fractional Odds Guide
Odds are the cornerstone of the sports betting business. They are the essential element to know how to bet on a particular event. Trying to predict a sporting event outcome is related to probability and chance. Hence, the odds' concept in betting comes from here. The odd indicates the amount you will receive for each monetary unit bet if you win a bet. In other words, it is what the sportsbook offers to the bettor if his predictions is correct.
How Are Betting Odds Expressed?
There are different ways to display odds for other sports betting events. Many sportsbooks and betting forums do not allow you to convert the format in which they show the odds. Thus, you must master the formats bookies uses to show odds, allowing you to interpret them correctly. Odds represent possibility and are expressed in 3 formats: decimal, fractional, and American. Here we'll focus on the fractional format.
The fractional odds are standard in the UK. They are still used because most of the main sports bookies headquarters are there. They are shown as a fraction. The numerator indicates the net win and the denominator the amount to bet. That is, this odds format shows us the following relationship:
Fractional Odd: Net Win / Amount Staked
The fractional odds are easy to calculate. For example; for a particular sporting event, the fractional odds is 3/2 (it reads 3 to 2). It means that the bookmaker pays $ 3 for every $ 2 wagered. It is possible to convert fractional odds to decimals. To do this, you just have to divide the fraction and add 1 to it, for example: (3/2) +1 = 2.50.
Fractional Betting Odds Examples
Suppose that you bet on a Liverpool win with a 1 to 3 (1/3) fractional odd, meaning that if you bet, for example, $ 30, your potential net profit would be $ 10. If you win, the bookie will return you the original amount bet plus the net profit. Therefore, if you hit the bet, the bookie will pay you $ 40.
Liverpool 1/3 - We bet $ 30 to get a net profit of $ 10. Total to receive: $ 40.
Let's now look at an example taking into account one high risk, or high odds bet. In these cases, the odds are more attractive. Let's say you place a bet on West Ham United's victory, with promising 5 to 1 (5/1) fractional odds. If you bet $ 20 and West Ham wins, the bookie will give you a $ 100 net win. Besides, you will get back the $ 20 of your bet, so your gross earnings will be $ 120.
West Ham United 5/1: If you bet $ 20 and you win, you would get a $ 100 net profit. Total to receive: $ 120.
This odds format is still widely used due to a large number of bookmakers come from the UK. Understanding what the odds are is the first step to being a successful bettor. So, you have got here the basis of what you need to bet through the UK bookies.
