immi ShowCase Magazine chair version | страница 92

SHOWCASE MAGAZINE | 2018
of your stake.
• 9/1 for every N1 you bet, you will win N9.
• 4/1 for every N1 you bet, you will win N4.
• 1/1 for every N1 you bet, you will win N1.
• 1/4 for every N4 you bet, you will win N1.
What is Probability?
The most basic level, betting provides you with the
ability to predict the outcome of a certain event, and
if your prediction is correct, you will win money. For
any given event, there are a certain number of out-
comes. Take rolling a dice for instance. If someone
rolls a dice, there are six possible outcomes. There-
fore, if you bet that the person rolls a ‘one’, there
is a 16.67% chance that will happen. What betting
odds merely do is present how likely the event is to
happen. Bookies most frequently in the UK do this
as a fraction, i.e. 4/7, whilst the vast majority also
offer the ability to view them as decimals. Again, let
us talk you through them. All will become clear.
What About Decimals?
Decimals are far more common on exchanges, such
as Bet fair, but all leading betting sites do give you
the option to view betting odds in this format. They
are an alternative to seeing betting odds in the
fraction format, and in our opinion, are easier to
work out. Here is the calculation: winnings = (odds *
stake) – stake. Let’s illustrate it with some examples
• 9.0 can be calculated as (9.0 * N10 stake) 90 – N10
stake = N80 winnings.
• 4.0 can be calculated as (4.0 * N10 stake) 40 –
N10 stake = N30 winnings.
• 2.5 can be calculated as (2.5 * N10 stake) 25 – N10
stake = N15 winnings.
• 1.25 can be calculated as (1.25 * N10 stake) 12.50
– N10 stake =N2.50 winnings.
You can use our bet calculator to help you calculate
winnings.
Using Betting Odds to Calculate Probability
Whenever you see two numbers separated by a
trailing slash, i.e. 10/1, this is known as fractional
odds. From this, you can calculate how likely a given
event is to happen with a calculation. For ease of ex-
planation, let’s replace the numbers with letters i.e.
4/1 becomes A/B. Here is the calculation: Probabili-
ty (%) = B / (A+B).
• 9/1 can be calculated as 1 / (9 + 1) = 0.10 – There
is a 10% chance that the event will happen.
Decimal Odds Versus Fractional Odds
• 4/1 can be calculated as 1 / (4 + 1) = 0.20 – There
In truth, one isn’t better than the other but there is
is a 20% chance that the event will happen.
certainly a trend emerging towards decimal odds.
• 1/1 can be calculated as 1 / (1 + 1) = 0.50 – There
Historically fractional odds were used in the UK, es-
is a 50% chance that the event will happen.
pecially on racetracks and on the high street. There
• 1/4 can be calculated as 4 / (4 + 1) = 0.80 – There
are two key differences. Generally, decimal odds
is a 80% chance that the event will happen.
are easier to understand. Based on this, there has a
Hooray! We’re making progress. Given a fraction, we movement to attract more people to horse racing by
can now tell how likely (the probability) what we’re
going to bet on will happen. Now let’s figure out
how much money can be
won using betting odds.
The table below shows a range of fractional odds and how they
relate to the implied chances of that selection being correct.
Using Betting Odds to
Calculate Winnings
Betting odds allow you to
calculate how much money
you will win if you make a bet.
Let’s use the same examples
as before, with the same re-
placement of numbers for let-
ters, i.e. 4/1 becomes A/B.
Quite simply, for every value
of B that you bet, you will
win A, plus the return
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