Betting Odds Calculations – so, what are betting odds? If you know all about this, you can just skip to the next page.
You might have seen betting odds at say 2/1 or 5/2 or 7/2, etc. However, the best way to look at odds and deal with them easily is to use the decimal version instead.
If you place a bet with odds of 2/1, that means if you place a bet of £10 with a bookmaker on a horse to win and it wins, you will get back £30 and will have made £20 profit. It is your £20 profit, plus the original £10 stake you put on.
When you calculate this using decimal odds instead of fractions, then with the same horse bet, the decimal odds would be 3.0. So, 3.0 x the £10 original bet gives you the £30 (£20 profit plus the original £10 stake).
Using decimal odds instead of fractions gets a whole lot easier when you are faced with odds of say 7/2 (4.5) or 13/4 (4.25)! Decimal is just an easier way to get to the same conclusion.
Betting Odds Calculations And Calculators
There are many different odds calculators on the internet you can use to make the conversions, although every betting website has the facility to change the odds format to decimal and that should be one of the first things you should do.
When it come to calculators, in my opinion, the absolute best one is on the OddsMonkey website. I will be talking a lot more about this website on other pages too.
Betting Odds Horse Racing
When looking up betting odds for horse racing, each website will clearly show this information for each race and each event.
I will not get into the details here, as I will cover this in more detail later.
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