10 1 Odds Meaning
Betting odds explained
In betting, odds represent the ratio between the amounts staked by parties to a wager or bet. Thus, odds of 3 to 1 mean the first party (the bookmaker) stakes three times the amount staked by the second party (the bettor). What is Probability? At the most basic level, betting provides you with the ability to predict the outcome of a certain event.
Betting odds can appear daunting at first glance but they are actually quite straightforward to calculate. We’ve devised a beginners guide to explain betting odds.
What Do 10-1 Odds Mean
How do odds work?
When looking at the odds (price) of a horse, the two formats used are decimals and fractions. Betting exchanges operate in decimals, whereas fixed-odds betting firms generally operate in fractions.
When determining the returns of a fractional bet, the second number always suggests the stake and the first number denotes what the profit will be if the bet wins. Take 4/1 as an example. If you stake £1 on a horse, then you stand to win £4 if the selection wins the race, which excludes your initial stake. In contrast, the decimal format factors in the initial stake. Betting odds of 4/1 would equate to 5.0 in decimal terms, 5/1 would be 6.0, and so forth.
- If $10 is bet at odds of 3/1, the potential profit is $30 ($10 x 3) and the total returned is $40 ($30 plus the $10 stake). Implied Probability. Odds correlate to probability. A 4/1 bet is expected to win one in every five attempts, therefore the probability is 20%. Odds Conversion Table. Fractional Decimal American Implied Probability; 1.
- Although the spread odds expressed in sports betting are 1/1, they are really approximately 1/1.10. Here’s why: When you place a $1.00 point spread wager, you place the dollar bet plus 10%. Thus, you would place $1.10 on a team to win $1.00. You get back your original bet, $1.10, and the one-dollar payout.
- (8/13) + 1 = 1.62. If you want to go from decimal odds to fractional odds is similarly simple. You just minus one from the decimal odds, turn that number into a fraction and reduce it down to it’s simplest form. Let’s take decimal odds of 4.5, this is the equation: 4.5 – 1 = 3.5 35/10 - 7/2.
See the chart below for a breakdown of betting odds in both fractional and decimal format, showing forecasted returns to £5 level stakes for the key prices in a market.
What Does 10-1 Odds Mean
Knowing your odds
| wdt_ID | Fractional | Decimal | WIN RETURNS FROM £5 (inc. stake) |
|---|---|---|---|
| 1 | 1-2 | 1.5 | £7.50 |
| 2 | 4-7 | 1.57 | £7.86 |
| 3 | 8-13 | 1.62 | £8.08 |
| 4 | 4-6 | 1.67 | £8.33 |
| 5 | 8-11 | 1.73 | £8.64 |
| 6 | 4-5 | 1.80 | £9.00 |
| 7 | 5-6 | 1.83 | £9.16 |
| 8 | 10-11 | 1.91 | £9.55 |
| 9 | 1-1 | 2.00 | £10.00 |
| 10 | 11-10 | 2.10 | £10.50 |
10 11 Odds
If you want to work out your winnings from a multiple bet such as an accumulator or lucky 15, you can use our betting calculator to find out instantly what you’ve won.