Understanding Horse Racing Odds – Welcome to our guide on how to understand racing odds. Trying to work out odds is often overthought and sometimes made complicated by those placing bets. We are going to try and simplify working out odds for you, so you have a clear understanding on how to work out your winnings.
Understanding Horse Racing Odds – Guide
In the UK horse racing odds are displayed in two ways, the first is fractional & the second you will find displayed as a decimal.
- Fractional odds are displayed like this: 10/1
- Decimal odds are displayed like this: 10.00
Take a look at the image below, you will see that where the odds section is, there are odds showing 5/1. You may also notice that there is a section at the bottom that shows how the odds and winnings are broken down.
In this case the odds are at (5/1). So if you have placed a bet on a horse and it wins with odds of 5/1, and your stake (amount you bet) was £5, your winnings would be £30.
The easiest way to explain is, for every £1 you bet, you win £5 + your initial stake £1 which = a £6 win.
Broken Down – £5 bet with odds 5/1. (5 x 5 = £25 + £5 stake = £30)
If you take a look below you’ll see similar image to the one above. However, what you will now notice is that instead of the odds being displayed as fractions, they’re now shown as decimals.
Here you can see that the odds are 5.00. So when you place a £1 bet with the odds as they are shown here, your winnings will be £5. This because they already take you stake into account when you place the bet.
Whereas if you were to put £2 on you would win £10, £3 would give you a return of £15 and so on. So as you can see, working out odds isn’t so hard, it’s just a simple mathematical equation. When you know how to break the odds up you realise just how easy understanding horse racing odds really is.
Horse Racing Odds Calculator
There are many tools out there in the form of betting calculator apps that help you quickly workout you winnings based on the odds of your bet. One of the best ones available has to be the bet calculator developed by AceOdds. It’s simple to use and once you input the details of your bet it displays exactly how much you can expect to win.
The screenshots you have seen above were taken from their website. However if you are like most of us and prefer to place bets on the go, they do provide a downloadable app in both the iTunes App Store and the Google Play Store.
The app makes understanding horse racing odds really easy, and we guaranteed that when you download the app, you’ll carry on using it, we do!
Hopefully we have made understanding racing odds more clearer for you? We are constantly adding how to guides to horse racing apps to help beginners learn morse about horse racing in general.
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