Trying to understand betting terms

[SheffUK 10]

Hello

 

I have been trying to find a useful website to explain how betting works and have had no success (everywhere assumes u have prior knowledge which i dont!!)

 

Could anyone explain to me the types of betting for instance what do odds of the following mean?

 

10/1

11/10

 

then tell me how much u would get back if u bet £1, £7 or 50p on each of those odds!!!

 

thanks in advance to anyone who can help me out

[The Miller 10]

I'm not a betting man but I know that.

 

10/1 = bet £1 to win £10 plus your money back = £11

£7 would win £70 plus your money back = £77

50p would win £5 plus your money back = £5.50

 

11/10 = bet £10 to win £11 plus your money back = £21

£7 would win £7.70 plus your money back = £14.70

50p would win 55p plus your money back = £1.05

 

hope that helps.

[Heyesey 11]

Think of them as a fraction. If the price is 10/11, then you'll win ten elevenths of your stake - and also get your stake money back. So (obviously), if you staked eleven pounds, you'd win ten and get back £21.

 

Many bookmaking odds are fractions that you wouldn't use in everday life - you'd never write 6/4, or 4/1, you'd just write 1 1/2 or 4. But they're basically the same thing. If the price is "X/Y", you'll win the fraction X/Y of your stake, and also get back your stake. If the fraction is X/1, then it's just a whole number; you win X times your stake.

[dynamick 10]

Hi SheffUk - as I worked in a bookies and on course for one a few years ago....I'll do my best without baffling you

 

10/1 - that means if you put £1 on you will win £10 + your initial stake of £1. if you put 1p on you will win 10p + your 1p stake.

 

11/10 - works in the same way - only this time - if you put £1 on - you only win £1.10 + your £1 stake.

 

It's all a fractions game you see. You might see a price of 6/4 advertised - well that would mean 6 divided by 4 = 1.5/1 so......if you put £1 on, you'll win £1.50 + your £1 stake back.

 

so - lets give you a few scenarios with different amounts on different odds.

 

25/1 - bet of £12 - is 12 x 25 = £300 + your initial stake of £12 = £312 to be paid back to you.

 

13/8 - bet of £15 - is 13 divided by 8 = 1.625 x £15 = £24.38 + your initial stake of £12 = £36.38 to pay back to you.

 

1/2 - bet £50 - is 1 divided by 2 ("odds on bet" = 0.5 x 50 = 25 + your initial stake of £50 = £75 to pay back to you.

 

If you type "bet calculator" or "ready reckoner" into google or any other search engine - there are various websites that will work bets out for you - if you're still stuck and cant get what you want - drop me a PM and I'll see what I can do

 

dynamick