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About BACK Odds

 

 

If  you  have  bet  before,  using  a  traditional  Bookmaker,  you  are  probably  used  to  using 

"Fractional Odds" when placing a bet. From now on, when using a Betting Exchange, you will 

be  using  European  "Decimal  Odds".  Decimal  odds  are much  easier  to  use  and  comparison 

between odds is quicker. 

The  difference  between  the  two  types  of  odds  presentation  is  quite  straightforward.  As  an 

example,  the  Fractional Odds  of  2/1  (two  to  one)  converts  to  a Decimal Odd  of  3.0  (three). 

Converting  Fractional  Odds  to  Decimal  Odds  is  done  by  dividing  the  numerator  by  the 

denominator and adding 1, thus: 

2 divided by 1 + 1 = 3.0 

We add one because Decimal Odds include the original stake money when calculating returns. 

However,  before  diving  into  the  realms  of  betting,  let  me,  for  the  uninitiated  to  gambling, 

explain a  little about  the principles of betting odds. Firstly,  I will give a number of examples 

using Fractional Odds and then show the same examples using Decimal Odds. Don't forget, we 

are at present looking at BACKING examples; LAYING will be explained later. 

Odds are the mathematical figures, which state how winning bets will be settled. The Fractional 

Odds of 2/1 (2 to 1) (2 to 1 against) means that the Bookmaker will bet his 2 to your 1 that your 

selection does not win (you must win before the Bookmaker will give you a return). 

Ignoring betting  tax, which at  the time of writing  this manual, did not exist  in Britain ­  if you 

bet £1 at the odds of 2/1, and the horse you have backed goes on to win, then you will receive 

£3 from your Bookmaker. 

e.g. 

1.                     2 x £1                                = £2.00 (Your Profit) 

Plus Original Stake Money          = £1.00 

Total Return                         = £3.00 

Further examples using £1 as your Original Stake Money: 

 

2. Odds 11/8 

11/8 x £1                             = £1.37 (Your Profit) 

Plus Original Stake Money          = £1.00 

Total Return                         = £2.37

3. Odds 4/5 (Odds On) (5 to 4 On) 

This simply means that the Bookmaker is betting his £4 to your £5. 

4/5 x £1                                   = £0.80 (Your Profit) 

Plus Original Stake Money               = £1.00 

Total Return                             = £1.80 

Now  that  the basics of Fractional Odds has been covered you must get used  to using 

Decimal Odds if you are going to use the Betting Exchanges for your new adventures. 

The examples below show the equivalent Decimal Odds format of the examples shown 

above: 

1. Odds 3.0 (Fractional Odds 2/1) 

Return from Bookmaker  3.0 x £1    =  £3.00 

Less Original Stake Money              =  £1.00 

Your Profit                               =  £2.00 

2. Odds 2.37 (Fractional Odds 11/8) 

Return from Bookmaker  2.37 x £1  =  £2.37 

Less Original Stake Money              =  £1.00 

Your Profit                              =  £1.37 

 

3. Odds 1.80 (Fractional Odds 4/5) 

Return from Bookmaker  1.80 x £1  =  £1.80 

Less Original Stake Money              =  £1.00 

Your Profit                              =  £0.80 

When BACKING you will be looking for , or asking for, as HIGH ODDS as possible.

 




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