If you are used to decimal odds, then other formats may be confusing. Of course, you can switch between systems on most platforms and choose the one that suits you best. However, it is worth knowing how the different types work. Today, we will talk about fractional odds, which are typical for the UK.
Betting Dictionary: Basic Betting Concepts
As we have said more than once, it is always worth starting with the basics. Don’t skip learning the terminology, and if you’re just getting into the world of betting, read about the terms used in betting. We advise experienced bettors to check the definitions when using a new platform. It is essential to understand what meaning a particular bookmaker puts into the terms. Of course, reading the rules is also necessary.
What Are Fractional Odds Bets?
It should be understood that odds always indicate the probability of a particular outcome. That is, no matter what system you choose, the probability will not change. Therefore, the choice should be determined by your convenience and the system that is specific to you.
Fractional odds are the ratio of potential winnings to your bet. That is, if you see an indicator of 3/1, then if the prediction is correct, your winnings will be three times the bet amount. In conventional decimal expression, this is equal to odds of 4.0.
How Do Fractional Odds Bets Work?
You may feel that this system is overly complicated. But in reality, it’s just a matter of habit. If you wish, you can quickly learn how to convert fractional odds to decimal odds and vice versa. For convenience, below we will look at a couple of examples that will show you the mechanism of action of this system.
Example 1
Let’s start with the simplest example. Imagine that you see a market with odds of 1/1. All the usual disputes are based on this ratio. One participant bets 100 pounds on one thing, the other 100 pounds on the opposite. The winner replenishes the pot with 100 pounds (total 200) – the original amount has doubled. If we convert this figure into decimal odds, we get 2.0 (we divide the numerator by the denominator and add 1).
Example 2
Now, let’s look at a more complex situation where you are faced with odds of 9/4. Here, it is already difficult to assess the potential gain immediately. If we use the above formula, we get the number 3.25. It is by this that you need to multiply the bet amount to calculate your potential winnings.
Remember that no calculation takes into account the bookmaker’s margin, so the actual winnings will be lower.
Conclusion
When we talk about odds, it is crucial to understand that all systems mean the same thing. Therefore, there is no more profitable option. When choosing the desired display on a betting platform, pay attention only to convenience for you personally.
