To the uninitiated betting odds may seem complex and confusing, maybe even enough to stop you from betting at all; When you add the two different types of odds into the mix (Fractional and decimal), the situation would seem to become even more baffling. Thankfully they really aren’t that complicated when you know what to do, in this article betting odds will be explained so you can bet with confidence.
First the difference between decimals and fractional odds must be explained. Fractional odds were the most prevalent but are now relatively uncommon, regardless some bookmakers still use them today (The vast majority are of course perfectly happy to give you the odds in decimals should you prefer.) Decimal odds are widely regarded to be simpler and easier to work with and as such are now the most common method of displaying odds. With this in mind you may think you only need to know how to work out decimal odds, but fractional odds are still used and are especially common on betting shop windows as they’re supposed to “look more attractive” to consumers, therefore it’s definitely worth knowing how to calculate both. We ourselves use the fractional format on our Non-League Odds comparison pages.
Fractional odds are quite simple, you simply need to work out the multiplier (This is the number by which you multiply your original stake by in order to work out potential winnings.) To get the multiplier you take the top/first number of the fraction and divide it by the bottom/second; So on odds of 7/1 that would be 7 ÷ 1 giving you a multiplier of 7, so on a £10 bet you would receive winnings of £70. Remember, your winnings doesn’t include your original stake so as well as £70 winnings you would receive back your original stake of £10, resulting in a total of £80.
To conclude on fractional odds, divide top by bottom (we’ll use 5/2 in this case) which would result in 2.5. So on a £5 that would result in winnings of £12.50 and a total of £17.50 with your original stake.
Decimal odds are even simpler than fractional odds, which is why they’re now the most commonly used form of displaying odds. Simply put, the decimal odds are the multiplier. So with odds off 7.00, you multiply your bet by this number to calculate your winnings. When calculating odds with this method however the number given is your winnings + your original stake; Therefore if you bet £5 on odds of 7.00 you will be returned £35 in total. To work out the winnings just subtract your original stake from the returned amount which in this case would be £30.
So just to summarise, decimal odds give you the multiplier right off the bat so you need only multiply your original stake by this number. A stake of £1 on odds of 11.00 is 1 x 11.00 resulting in £11. Simple.
In conclusion, fractional odds are still used by some bookmakers but are much more uncommon; Due to the ease of calculating decimal odds, these are now the most widely used. We hope this article has helped you to understand odds so you can now bet with confidence, knowing exactly what you stand to win. Have fun and good luck!