How to Read Fractional Odds

There are three main odds types in the online sports betting industry – American, European, and fractional. The latter are also known as UK odds, as they’re commonly used in the United Kingdom. American and decimal (European odds) are widely considered the most popular formats. But bettors should still learn how to read fractional odds, which show the profit relative to the stake.

Fractional betting odds can be found at many reputable sportsbooks, including BetPlays. Our platform allows Canadian bettors to switch between the three formats with ease. In this guide, we’ll let you in on how to read fractional odds, what they represent, how to calculate payouts, and compare them to the other formats.

What Are Fractional Odds?

Fractional odds show how much money you can win on a bet. They numerator and denominator also show how likely you are to win a bet. Fractional betting odds with higher returns determine a less likely outcome, while those with lower returns indicate a more likely outcome.

The odds are displayed with a fraction, which is different from American or the decimal European odds. When reviewing sports betting markets at BetPlays, you’ll see fractional odds listed as 3/1 or any other number. The numbers are split in two sides, which we’ll cover below.

Examples of Fractional Odds

Compared to decimal odds, UK odds look quite different and honestly confusing. To have the fractional betting odds explained, we’ll break down both sides. This will help you understand how to read fractional odds with ease.

• For example, a 3/1 line indicates a profit of $5 for every $1 you wager. The total return in this case is $4, which represents the stake and profit.
• If you see higher odds such as 10/3, you have a profit of $10 for every $3 wagered. These odds are considered a long shot and have a lower winning probability.
• Favorite odds are often displayed as 1/2, meaning a profit of one betting unit on every two wagered. These fractional betting odds indicate a strong favorite. The implied probability is high, but the payout is lower.

How to Calculate Fractional Odds and Payouts

In order to learn how to calculate fractional odds, we’ll use a practical example. We’ll explore a match in the Premier League, where fractional odds are often used.

• Arsenal plays Brighton at home, with favorite odds of 8/11. Brighton’s odds in comparison are 8/1 to win.
• If a bettor places a bet of $1 on Brighton and the team wins, they’ll win seven times their stake and the original bet for a total of $8. From here, it’s easy to follow the fractional betting odds train. Bet $2 on the same outcome, and you’ll win $16.
• Picking Arsenal at 8/11 means you’ll be earning $8 for a Gunners win plus the original bet. It’s easy to see that Brighton’s underdog odds bring more profit compared to Arsenal’s favorite position.

Bettors can always use a fractional odds calculator to get a clear idea on the potential returns. But knowing the math doesn’t hurt, and is often the preferred way for bettors to calculate fractional odds.

Converting Fractional Odds to Implied Probability

When it comes to the implied probability and fractional odds, bettors should follow a bit more complex formula. While not all bettors are interested in it, converging UK odds to implied probability gives you an idea of how likely an outcome is to happen. Here’s the formula you can use:

• Implied probability = denominator / (denominator + numerator) * 100
• So, the implied probability for fractional odds of 6/5 is this: 5 / (5+6) * 100 = 45.45%.
• In the case of favorites at odds of 5/9; 5 / (5+9) * 100 = 64.29%

Canadian bettors can use implied probability to calculate the value of each bet at BetPlays. You can also do without it or switch between odds formats to see how likely an outcome is to win.

Fractional vs Decimal vs American Odds

When it comes to sports betting online, fractional odds show the potential profit relative to the stake. Decimal odds show the total return including the stake, while American odds show whether a team is a favorite or underdog. Here’s a quick comparison table with fractional vs decimal and American odds compared and the implied probability for each bet.

Final Thoughts

Understanding fractional odds is key to making smarter bets. Bettors should know how to read each odds format and learn how to manage their bankroll properly before they bet on horse racing, the Premier League, or something else at BetPlays.

Mastering the basics will always provider bettors with an edge, and that’s why it’s important to learn how to read fractional odds. Switch between the formats at BetPlays at will and place your bets now.