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Without odds there would be no betting and without understanding odds there will be no winning customers. The odds are quite simply the price, they are used to calculate exactly how much you will receive if your bet wins. Generally speaking the odds don’t change no matter how much (or little) you want to stake on a selection. Fractional odds are displayed as 10/1 or 7/2. There are several ways to try and understand them but the easiest way is “how much you will win”/”how much you stake”. So for example if you stake £1 at 10/1 you will win £10 (remember that’s your profit, you will receive your pound back too!). If you stake £2 at 7/2 then you will win £7 and get your £2 stake back.
Hong Kong odds can be intimidating if you don’t know exactly how they work, but they’re easy to learn. Our expert guide will show you exactly how to use HK odds and why they’re such a great choice – plus, we’ll share top online bookmakers in Asia using Hong Kong odds. Fractional odds originally used in horse racing, fractional odds are one of the oldest forms of odds for sports gamblers. If you were to walk down London’s high street of bookmakers, you would see fractional odds adorning the walls of some the largest bookies in the world.
On this page, you can learn how to use Hong Kong odds, how to convert HK odds into decimal odds, and how Hong Kong odds work with specific sports. Read on to understand HK odds today.
Fractional odds are most common in the United Kingdom and Ireland, and as such, can also be called Traditional, British or UK odds. Originally used in horse racing, fractional odds are now common across a whole range of sports across the globe.
Fractional odds show the amount of profit relative to your stake. The number on the left-hand side of the fraction shows how much profit you will make if you stake the amount shown on the right-hand side of the fraction. As an example, fractional odds of 3/1 (read as three-to-one) mean that you will receive 3 units of profit for every 1 unit that you stake. If 1 unit is £10.00, then you would have a return of £40 which is your £10.00 initial stake and £30.00 profit.
With fractional odds, 1/1 is seen as evens meaning that you would make the same amount of profit as your original stake if your bet was successful – 1 unit staked would return 2 units, made up of 1 unit profit and your original 1 unit stake. If the fraction is bigger on the right-hand side, then this is known as ‘odds on’ and means that you need to wager more than you will make in profit because the bet is seen as being likely to win – for example, fractional odds of 1/2 on would see a profit of 1 unit for every 2 units staked. If the left-hand side of the fraction is bigger than the right, then the bet outcome is less likely to happen and is seen as being ‘odds against’ – for example, fractional odds of 5/2 against would see 5 units of profit made for every 2 units wagered.
Most online bookmakers have a built in feature which allows the customer to change between the different types of odds. This is usually found in your account settings or as a drop-down option when looking at the available bets. This makes it easy to select the odds format you wish to use and allow the website to convert the odds automatically rather than you needing to do the conversion manually.
When betting on an event in which there is a definitive favourite and underdog, the odds of the favourite are often referred to as ‘odds on’ and the odds of the underdog as ‘odds against’. If a bet is even money, the odds are not 1:1 due to the bookmaker’s juice or commission. In most cases, the odds will be 10/11, where the bettor risks $110 to win $100.
Should you wish to convert fractional odds to decimal odds though, this can be done by:
Where L is left-hand side of fraction and R is right-hand side of fraction
For single bets:
Stake x ((L / R) 1) = Return
For multiple bets:
Stake x ((L / R) 1) x ((L / R) 1) x ((L / R) 1) = Return
In football, if Liverpool are favourites at odds of 4/9 to beat Aston Villa who are the underdogs at 6/1 and you stake $50.00 on Liverpool to win:
4 / 9 = 0.44
0.44 x $50.00 stake = $22.22 profit
You would make $22.22 profit if Liverpool won, in addition to get back your initial stake of $50.00, which would make a return of $72.22.
In football, if Liverpool are favourites at odds of 4/9 to beat Aston Villa who are the underdogs at 6/1 and you stake €50.00 on Aston Villa to win:
6 / 1 = 6
6.00 x €50.00 stake = €300.00 profit
You would make €300.00 profit if Aston Villa won, in addition to get back your initial stake of €50.00, which would make a return of €350.00.
In horse racing, if horse A in race 1 has odds of 2/3, horse B in race 2 has odds of 3/1 and horse C in race 3 has odds of 7/4. You place a £15.00 treble on each horse to win their race outright (i.e. not an each way bet):
£15.00 stake x ((2 / 3) 1) x ((3 / 1) 1) x ((7 / 4) 1)
£15.00 stake x 1.67 x 4.00 x 2.75 = £275.00
You would return £275.00 if all 3 horses won their races, which is made up of £260.00 profit and your initial £15.00 stake.
An easy way to convert fractional odds to decimal odds is to convert the fraction into decimal form and then add a 1.
For example, 5/1 in fractional odds would be 6.00 in decimal odds.
5 / 1 = 5 1 = 6.00
Here is a conversion when you are betting on a large favorite:
1 / 5 = 0.2 1 = 1.2
Understanding fractional odds is especially important to UK bettors, but even those not normally using these odds can benefit from understanding them. Used by the world’s largest bookmakers, there is no doubt fractional odds are one of the preferred odds for sports bettors across the world.
