Understanding the odds

FRACTIONAL ODDS

In the betting ring the odds are most commonly displayed in their traditional fractional form and on boards would look like the below

4/1 – for every one unit you stake you receive 4 units back plus your initial stake

5/2 – for every 2 units you stake you receive 5 units back plus your initial stake

If the odds are displayed the other way around this means that the horse is odds on, and very likely to win the race.

¼ – for every 4 units you stake you will receive 1 unit back plus your initial stake

½ – for every 2 units you stake you will receive 1 unit back plus your initial stake.

EVENS is the equivalent of a 1/1 fraction. So you receive 1 unit for every one you stake in addition to your initial 1 outlay.

DECIMAL ODDS:

These will just look like a normal price. To work out your potential winnings multiply your stake by the number shown next your horse. For example if you put £2 to win on 5.00 you will win 10. It is important to remember that your stake is already factored in when using decimal odds.

BETTING EACH-WAY

The place price when betting each way depends on the type and amount of runners in the race (if there are 3 horses bookies would not want to pay out on first, second and third!).

  • Races with fewer than 3 runners: win bets, no places offered
  • Races with 3 or 4 runners: 1/5th of the odds for finishing second
  • Races with 5 to 7 runners: 1/4 of the odds for finishing first or second
  • Races with 8 or more runners: 1/5th of the odds for finishing first, second or third.
  • Handicap races with 12 to 15 runners: 1/4 odds for finishing first second or third
  • Handicap races with 16-21 runners: 1/5 odds for finishing first, second, third or fourth.
  • Handicap races with 22 or more runners: 1/4 odds for finishing first, second, third or fourth.

Read more at http://dev.greatbritishracing.com/guide-to-racing/guides/betting/understanding-the-odds/#eBdTCRMm6xmV314v.99