Fractional Odds Explained – What The Numbers Mean

If it is your first time trying to understand fractional odds, it can be a little bit confusing. However, they really are quite simple to understand, once you get used to them. Mostly the prices of fractional odds are made using the slash (/) method. For example, you might be betting on a football match for a team to win at 4/1 or a horse to win a race at 1/2. So, what does this mean in principle? Basically, fractional odds show the return that a bettor can make in relation to the stake they wager. Hopefully things are now becoming a little bit clearer but we will go into more detail to provide a full explanation.

Let’s Take a Look at a Few Examples of Fractional Odds:

We can assume a horse has fractional odds of 6/1 to win a race. The simplest way to understand your bet is taking the fractional odd and think the following. ‘6/1’ in written form translates to ‘how much you can win / the amount of your stake’.

So fractional odds are providing the payoff to bet ratio. When considering 6/1, the first number represents the profit or payoff and the second number represents the level of the bet that is required to win the payoff. In our example of 6/1, if you bet $1 on the horse and it wins, you will receive a$6 payoff and in addition, you will also receive your original stake back. If you were to bet$2 on the 6/1 fractional odds and the horse wins then you will receive$12 winnings plus your original bet of$2. If you make a$10 stake then you can have the chance of winning$60 plus the return of your original stake. Taking a slightly more complicated fractional odd of 13/8 then the same rules apply. Placing a bet of$8 can win you a payout of $13, plus the return of the original stake.

Hopefully, the above is simple and easy to understand, but what happens if the payoff number is greater than the stake number in a fractional odd? An example of this can be odds placed at 8/11 for a football team to win a match. This is an example of an ‘odds-on’ bet but the same principles apply. If you bet $11 on the winning football team, your stake will be returned together with an $8 profit. If you made a winning bet of $110 then your payout would be $80.  Such odds are placed against firm favourites to win a sporting event such as a horse race, tennis or football match. A recent example of an odds-on favourite was at the French Open Women’s singles final 2022; where Iga Switek won the tournament at odds of 1/4. Swiatek had won the previous five tournaments she had entered and was unbeaten in 34 matches by the time she reached the French Open final.

The Different Types of Fractional Odds:

It is possible to create three groups of different types of fractional odds. The groups can be split by considering the levels of return that a bettor will achieve in consideration of their placed stake. It will not take long to understand the level of returns you are working with when you see a fractional odd, especially now that you have familiarised yourself with the above examples.

Prices that are Against the Odds:

This is where the numerator is far higher than the denominator. In such cases, the higher the numerator the greater the probabilities that you are going to lose, based on the betting market. An example of such a fractional odd is 2/1 where you may feel you have a good chance of winning the bet. However, sometimes in horse racing fractional odds can reach 100/1 or even higher against a horse winning the race. If you win against the odds, your payout will be greater than your bet.

Prices that are Odds-on:

In these cases, the market odds are in favour of the value and your payout is likely to be smaller. The market is backing a firm favourite to win a race, tournament or match.

Even Odds:

As yet we have not mentioned even odds. Whatever way you look at it, even odds are 1/1. If you win a bet at even-odds you will receive exactly the stake that you placed at the outset, and of course, the original bet will be returned alongside your winnings.

We hope you have enjoyed our short guide to fractional odds. You should now have the confidence to place your understanding of fractional odds into some productive betting action, and with a bit of luck, you’ll soon be enjoying some big wins.