For a new bettor, learning how do fractional odds work must seem exactly that odd! Yet, without how do gambling odds work, betting can’t actually take place to increase your winning chance, and it is important for you to understand them.
So, in this article, we will explain to you how fractional odds work, and show you other important things from this term. Make sure you keep reading to become a master gambling.
What are Fractional Odds?
Before we jump into the explanation of how do fractional odds work, let’s begin from the basic information. Fractional odds are one of the most popular forms to express the probability of an event’s result in Europe or in the UK. They are displayed with a numerator over a denominator (2/1).
4/5 is an example of this form. The amount staked is represented by the bottom number, or the one on the right, while your wins are represented by the top number, or the one on the left.
So, 5 is the bet amount while 4 is the amount that you will win. To make it simpler, if you decide to bet $5 with the above odds, you will win $4.
Moreover, others will commonly refer to the number on the left as the numerator and the number on the right as the denominator. When reading the fractional odds, you will often start with the numerator and the denominator.
Therefore, 4/5 will be read as 4 to 5 odds, while 3/1 will be read as 3 to 1 odds. The 1/1 is often referred to as “evens” as the bet amount and the winnings are of equal value. In addition, the fractional odds will always be written as the whole numbers. So, instead of writing 3.5/1, a bookmaker will write that as 7/2.
Most commonly, how do fractional odds work is used in the UK, that is why people are also called “UK Odds”.
How Do Fractional Odds Work Actually?
Now, let’s figure out how do fractional odds work. They are used to bet on sport events and will tell us two things:
- The price – Allowing bettors to calculate exactly how much money you will win when your bet wins
- Probability – The likelihood of your selected bet actually winning
The odds against prices. The number on the left side of the fraction displays how many times your stake will be multiplied by. For instance:
- $1 stake x 5 = $5 winnings = 5/1
- $5 stake x 5 = $25 winnings = 5/1
- $10 stake x 5 = $50 winnings = 5/1
On how do fractional odds work, bets placed at “evens” return winnings of exactly the similar amount as the stake:
- $1 stake x 1 = $1 winnings = 1/1
- $5 stake x 1 = $5 winnings = 1/1
- $10 stake x 1 = $10 winnings = 1/1
Moreover, the odds on prices are calculated in reverse. The number on the right side of the fraction displays how many times your stake will be splitted by. For instance:
- $1 stake divided by 2 = $0.50 winnings = 1/2
- $5 stake divided by 2 = $2.50 winnings = 1/2
- $10 stake divided by 2 = $5 winnings = 1/2
Your first stake will be returned along with your winnings.
Fractional Odds and Implied Probability
On how do fractional odds work, implied probability is the proportion that, based on the odds of the bookmakers, depicts the chances that an event will occur. An event with a high likelihood has a better chance of happening. It means a higher percentage interprets to a higher probability.
On the other hand, an event with a low probability has a lower chance of happening. It means that it will have a lower probability percentage.
So, placing an implied probability on how do fractional odds work is simple, with only one conversion formula needed: Fractional odds implied probability = (1 ÷ ((Fractional odds) + 1)) x 100. Using the example of 2 to 1 for a team to win, the implied probability will be (1 ÷ ((2/1) + 1)) x 100 = 33.3%.
That means the chosen team has a probability of 33% to win the event. Players should also keep in mind that when adding the implied probability of two teams in the similar event, the outcome will always be more than 100%, as of the vig added by the bookmaker, that is the primary way of winning.
Furthermore, wholesale odds are called the “real odds”, which is the 100% probability of an event with odds not including any vig. It can also be defined as having the bookmakers’ “overround” built into the odds. This is as a wholesale odds index will show all prices without adding profit margins for the bookmakers listed.
Differences between Fractional and Other Odds
Even though how do fractional odds work look much different, their aim remains the same. They all show the bettors how much money they can receive from every bet, which is consistent with each kind of odds used. Odds can be displayed in any of the forms for all sports events.
However, how do fractional odds work depends on where the sports target bettor is located. For instance, the odds of NFL matchups will always be shown in the American odds, even for the offshore bookmakers, as the target betting market is mainly based in the USA.
The best e-wallet Casino Malaysia that offers sports betting will let bettors change between American, fractional, and decimal odds on all sports events.
Conclusion
In the end, learning how do fractional odds work is one of the most important things, especially if you want to gamble on sports betting. These odds are used to express the probability of an event’s result in the UK or Europe, which are displayed with a numerator over a denominator.
The more you understand how odds work, the more you can look for the odds from the betting sites worldwide that show their odds in only one format. Most importantly, you can be more cautious of the decisions you have to make in sports betting.
Now, you can have your time to choose a reputable online casino that offer fractional odds.
