Racing Odds an Explanation

Odds against, Even Money, Odds On
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Do odds leave you baffled we will try our best to lift the lid on the complex subject just for you. Free Bet and Free Bet Calculator click

Firstly odds are quite simply the price the bookmaker lays bets. These prices are set at odds against, even money or odds on. These odds reflect how the bookie thinks the horse will do in a race or they reflect the amount of money going onto a particular horse or horses.

Even Money - quite simply the bookie will in the event your horse wins give you a £1 for every £1 staked, you will see or hear terms like Evens this favourite, or Even money the field.

Odds Against - this is when the bookie will in the event of your horse winning give you more money than you staked. e.g. if an horse is 3/1 you will get back £3 for every £1 staked plus your original £1 stake.

Odds On - this is when the bookie will in the event of your horse winning give you less than you staked. e.g. you bet £1 on an horse that is 2/1 on you get 50p for plus your original stake of £1 so you receive £1.50.

Some other betting terms:
Bar One - often heard rarely understood, lets take and example 5/1 bar one means that the bookie will give you odds of 5/1 against or better for every horse in the race except the favourite (bar one horse)

Longer Odds/Shorter Odds - 20/1 is a longer price than 2/1. An odds on horse is said to be shorter in the betting than a horse quoted at odds against, when an horses price comes down it is said to shorten or come in. When an horses prices goes up it is said to lengthen or go out.

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Fractions - the fractions used in betting are actually based on English currency pre decimalisation.

You don't need to understand old currency to work out the fractions but it may become clearer if you knew that there were 8 x half crowns to a pound (2 shillings and six pence.) also that there were 10 x two shilling to the pound and that half a pound was a 10 shilling note.

You may then see why 4s and 8s appear in most betting fractions.

Most fractions are much easier to work out since decimalisation but if you are still confused by 100/30 just remember 100 shillings to 30 shillings or £5 to a £1.10 stake.