Each-Way AtlasGlossary: each-way, odds and racing terms
Fractional odds
Fractional odds, written for instance as 5/1, show the profit you make compared with the stake. The top number is the profit and the bottom number is the stake it is earned on. Divide the top by the bottom and add one to get decimal odds. A table and an example are on the page about how to read odds. In UK betting they are the usual racing format.
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What the term means
A price of 5/1 is read "five to one". For every £1 staked, a win gives a profit of £5, and the £1 stake is returned as well. The price 1/1 is called evens, covered under odds-on and evens.
The format is set by the way the organiser or operator displays prices. We have not yet recorded their wording, so the source for the definition is Not verified; the arithmetic itself is derived.
The short version: the first number is the profit, the second is the stake that earns it.
How to convert it
In words: decimal odds equal the top number divided by the bottom number, plus one. Going the other way, the profit per unit is the decimal odds minus one, written as a fraction.
As a formula: decimal = top ÷ bottom + 1. The same prices are explained in decimal odds, where the idea runs from the other end.
Why this matters to you: the same horse can be shown in either format, and you need to know that they describe one price before you compare two bookmakers.
The full conversion table is on the page about how to read odds, and you can apply it to a bet with the calculator.
Where you meet it
You meet fractional odds on race cards, on the bet slip and in settled bets. Which formats each operator shows for racing, and whether you can switch between them, is Not verified here.
| Operator (candidate; licence to be confirmed) | Formats shown for racing | Date read |
|---|---|---|
| Betfred | Not verified | Not verified |
| BoyleSports | Not verified | Not verified |
Common mix-ups
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The first number is the profit, not the total return. The total return includes the stake. * Fractions do not need to be whole numbers over one, so a price can have a bottom number higher than one.
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A shorter price means a lower profit for the same stake, and it implies a higher chance, as described under implied probability.
The short version: read the price as profit over stake, and add the stake back to get the total return.
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