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Thread: Betting Odds

  
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    Betting Odds

    Can anybody explain how betting odds work? Obviously the more likely something is to win the lower amount you get, but what does 1/9 mean for example in money terms, or 5/1?

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    1/9 is bet 9 quid to win a pound, usually very strong favorites
    5/1 is put 5 pound on get 25 so 5 times your stake

    HTH

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    but remember if you win not only do you win the odds you get your stake back

    example A

    odds 5/1 so i stick £1 and i win so i get back 5 x £1 = £5 + my £1 stake = total of £6

    and for the likes of 1/9

    i put £9 and i win so i get £1 + my £9 stake (these odds would be for th likes of Chelsea beating hudersfield town or the likes
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    so 7/2 would be...

    bet £1, win £7 and get your £1 stake plus another £1?!

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    Quote Originally Posted by RobW
    so 7/2 would be...

    bet £1, win £7 and get your £1 stake plus another £1?!
    no 7/2 is like 3.5/1 (its all to do with old fractions )

    so stick on £1 @ 7/2 and win you will get £3.5 + £1 stake + £4.5

    simple way is to say that with 7/2 for every £2 staked you win £7 plus your £2 back
    Ibiza FR CR TDI with 203 BHP

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    And it's all based on aforementioned fractions!!

    if you wanna know in detail, read on, if not, you can sleep through this bit...

    if you imagine the total possible chance of any outcome of an event = 1
    say it was something simple like tossing a coin, where heads and tails both have the same chance of coming up you divide the 1 by 2, so each of the faces has a 2/1 chance of winning (half).

    if it is something a bit more complicated then each of the outcomes gets a fraction of the 1, so for example Man U vs Chelski (this is gonna cause some arguments) they are both pretty good, and on their day either one could win, but it's more likely to be a draw. For the sake of this we can imagine that they are both exactly the same skill, and hence the chance of a draw is the most likely outcome.
    So 2/1 that it's a draw, 4/1 that Man U win, 4/1 that Chelski win.

    Obviously in real life there are all sorts of factors that can come into play, meaning the odds change from day to day.

    Bookies, as well as using maths to work out their odds, base it quite significantly on what people are already betting on. If you walked into the bookie mentioned in the Man U match above and put £1million on Chelski, you'd probably find that within a few minutes the odds changed to be very much in Chelski's favour. That's not because they have more chance of winning, but because the Bookie has more chance of having to pay out big if Chelski win.
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    odds are 10-1

    you take your stake (eg £10) divide it by the number on right (1) and then multiply it by the sum of the 2 numbers (10+1=11)
    (original stake was £10 multuply by sum which was 11

    so you get £110 back

    if its an accumulator you would take your £110 into next bet

    does that make sense
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    i look at it in a basic way,

    4 to 1

    means for every £1 i bet, i win £4,
    so if i bet £5 id win £25

    and on top of that you get your original bet back,

    so 4 to 1, bet £5 gets your £30 back,
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    Quote Originally Posted by AndyR
    i look at it in a basic way,

    4 to 1

    means for every £1 i bet, i win £4,
    so if i bet £5 id win £25

    and on top of that you get your original bet back,

    so 4 to 1, bet £5 gets your £30 back,




    no you would only get 20 back plus your stake so £25 4x5= 20 plus your stake =5 so 20 +5 = 25
    ...

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    an easy way to remember is, the number on the right is how much to bet and the number on the left is how much you win.

    1/9 = £9 bet you get £1 win
    Astra MkIV 1.6 8v (Z16SE) 2001

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