Betting Odds Explained

Tips for getting the most from it

First, check whether the odds are shown as fractions or decimals, because the same price can look very different. Then, convert them to decimal so you can compare bookmakers easily.

For example, 5/1 and 6.0 are exactly the same price. However, a bookmaker offering 6.2 on the same selection gives you a better return. In addition, the implied probability tells you how likely the price says something is.

Finally, remember that every bookmaker builds in a margin, so shopping around for the best price really does add up over time.

About this video: Betting Odds Explained

Betting Odds Explained shows how to read a price, and what it tells you about both your potential winnings and the chance of winning.

First, the video compares the two formats you’ll see in the UK. Fractional odds show profit against stake, so a £1 bet at 5/1 wins £5 and you get your £1 back. Decimal odds, on the other hand, show the total return per pound, so £1 at 6.0 also returns £6. To convert, divide the fraction and add one. Evens is 2.0, which doubles your money.

Next, it explains short and long odds. The shorter the price, the more likely the outcome, but the smaller the return. In contrast, longer odds are less likely to win but pay more.

Finally, the video covers implied probability: 1 divided by the decimal odds, so 2.0 implies a 50% chance. If you add up every outcome in a market, the total comes to more than 100%. That extra is the bookmaker’s margin, which is why comparing prices matters.

However, rules and offers change. For that reason, we check every video against the Gambling Commission and other official sources. In fact, we last checked this one on 8 November 2026.