One of the three ways of specifying betting odds is the Fractional odds, also called UK odds. The other two
are American odds and Decimal odds.
Fractional odds are identified by the fact that they are, as the name indicates, are given in fraction form, and no signs
For betting selection on an event between two contestants, such as a sports match between two teams, either the two contestants are of equal strength,
or one of them is more favored to win the match than the other. The first case is known as Evens betting and each one is assigned similar odds.
If one of the teams is a favorite and the other the underdog, then
the odds assigned to the favorite is called Odds-on, and that to the underdog Odds-against.
Definitions of Fractional Odds
Fractional Odds are fractions that represent a stake equal to the denominator will result in a winning equal to the numerator.
In other words, the denominator is how much you bet, and the numerator how much you win. For example, odds of 10/11 mean that 10 units
will be won with a stake of 11 units, or, for every $11 wagered, the winnings will be $10.
Winning = Stake * Fraction Odds
Pay-out = Stake * (Fraction Odds + 1)
= Winning + Stake
The value of Fractional odds tells the relation between the stakes, the winnings, and the pay-outs of a bet. Winnings are what the bettor wins with a certain
stake (wager), while pay-outs are the total amount paid to the winner. Obviously, pay-outs are winnings plus stakes.
- If the value of decimal odds is 1/1, it means that the winnings are exactly equal to the stakes, that is, the bettor doubles his/her wager.
- If the numerator (winning) is less than the denominator (the stake), then it means that the winnings are less than the stake. This is normally
the case of betting on the favorite team (odds-on).
- If the numerator is greater than the denominator, then it means that you win more money than what you wagered. This is normally the case of betting on the underdog team (odds-against).
Some Common Fractional Odds Examples
Fractional Odds for Evens Betting
The simplest case of betting is when the betting is between friends (fair bet) and when the two teams, say, team A and team B, are competitive.
In this case since no sportsbook commission is involved you bet $1 to win $1. And the odds are given as,
Team A : 1/1
Team B : 1/1
Well, theoretically they can be given as 10/10, 100/100, or any fraction with identical numerator and denominator.
However, if the bets are placed through a sportsbook, although both teams are equally strong, because of the commission involved, the
winnings will be less than the stakes for both teams. Usually, sportsbooks present these odds as 10/11 or 9/10, thus,
Team A : 9/10
Team B : 9/10
If you bet $30 on either team, using the formula given above, the you'll win $30*9/10 = $27. Or, the pay-out will be $30*(9/10 + 1) = $30*(19/10) = $57.00
Fractional Odds for Moneyline Betting
If there is a disparity of strength between the two teams, one of them will certainly be favored over the other. In the US, Moneyline is betting without point spreads.
There is nothing special about it; it is just a win or lose betting. For example, odds of a match between teams C and D may be specified as,
Team C : 4/15
Team D : 14/5
Obviously, team C is the favorite and team D the underdog.
If you bet $30 on team C, using the formula given above, you'll win $30*4/15 = $8.00. Or, the pay-out will be $30*(4/15 + 1) = $30*(19/15) = $38.00.
If you bet $30 on team D, using our formula,you'll win $30*14/5 = $84.00. Or, the pay-out will be $30*(14/5 + 1) = $30*(19/5) = $114.00.
Fractional Odds for Point-spread Betting
Point-spread is a way of equalizing the odds of two non-equal teams by introducing a handicap. As demonstrated in the above example, there will be
very little to be gained by betting on the favorite team C, and a lot by betting on the underdog. Bettors will usually stay away from such bets since
it is a risky bet in either case, plus it will be a lot of loss for the sportsbook if team D wins. To overcome this, a handicap of, say 5 points,
will be introduced so that both odds would be equal as in the case of evens. Such odds may be specified as,
Team C : +5 9/10
Team D : -5 9/10
In this case, if you bet on team C, you'll win the bet if team C wins or even if it loses by less than 5 points. If you bet on team D, you'll win the
bet if team D wins by more than 5 points; if team D wins by by 4 points, yes, you have correctly predicted the winner, but it hasn't "covered the spread"
and you lose. If team D wins by exactly 5 points, it will be a push, and the wager will will be returned to the bettors.
Conversion of Fractional Odds to American and Decimal Odds
The easiest way to convert odds is to use an odds conversion table. However, since such tables may not be always available,
the bettor has to memorize the following steps of conversion from Fractional odds to American and Decimal odds.
To convert from Fractional Odds to American Odds
There are two cases here: one, when the the numerator is less than the denominator, and two, the numerator is greater than the denominator.
- If the numerator of the Fractional odds is less than the denominator, divide 100 by the Fractional Odds, then place "-" before it. For example, to convert the decimal odds 9/10 to American, 100/(9/10) = 111, so it will be -111.
- If the numerator of the Fractional odds is greater than the denominator, first multiply the Fractional Odds by 100 and add "+" before it. For example, to convert the Fractional odds of 14/5 to American, 14/5*100 = 280, thus +280.
To convert from Fractional Odds to Decimal Odds
Just write the odds in decimal form and add 1 to it. For example, to convert the Fractional odds 10/11 to Decimal, 10/11 = 0.91, then 0.91 + 1 = 1.91.
Betting Calculator for Fractional Odds
If you do not want to go through all the trouble of conversions and calculations, use the following betting calculator to calculate winnings
and pay-outs when odds are specified in the fractional form. Just enter your stake, choose the odds, and click on the 'Calculate' button.