Here are some examples of fractional bets, how they would work and how much the bookies will pay out for a win. 3/1 – Bookies pay £3 for every £1 staked 15/2 – Bookies pay £15 for every £2 staked 3/5 – Bookies pay £3 for every £5 staked 1/1 – Bookies pay £1 for every £1 staked The first two bets are called “odds-against” bets: a scenario where the bookie thinks the event is more likely not to happen – the bookie is betting against an event occurring and that it is unlikely.

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In a two runner race the true odds are 1/1 or even money - 50/50. (100%) The bookmakers instead of offering the true odds of 1/1 will offer both competitors at odds of 10/11, that comes to (104.72%). The 4.72% is their profit margin. The bookmakers instead of offering the true odds of 1/1 will offer both competitors at odds of 10/11, that comes to (104.72%). Using an odds comparison tool should be part of your betting life but just as important is to be responsible when gambling.

Only bet with money you can afford to lose

On OLBG we always advise you bet within your means and have a range of helpful articles dedicated to this. Welcome to this William Hill guide on betting odds. Here you will learn everything there is to know about betting odds, how to read different configurations, the best ways to utilise your preferred format, and how to convert betting odds. It is essential to understand how betting odds work when preparing to make a bet. A lack of comprehension of the basic fractional or decimal odds could lead to losses by placing a wager you thought was something else.

King George VI Chase

Even bettors that are experienced using one format of odds, fractional, for example, can benefit from understanding the full spectrum of betting odds. They may find that utilising multiple formats aids their betting success more than relying on one kind. Betting odds are the odds on a particular outcome and are determined by the bookmaker. For example, England are one of the leading contenders at 6/1 to win the 2026 World Cup. Betting odds are the ratio between the amount staked by the bookies and the bettor, so 6/1 means the bookies stake six times the amount the bettor has wagered. The third one is an “odds-on” bet: a scenario where the bookie thinks the event is likely to happen. When both numbers are the same (last example), this is an “evens” bet: a 50/50 bet.

Odds Comparison

This is a particularly good tool for trading. The bookmaker with the best odds in general, if not looking to specialise is a specific sport, or market, would be bet365 who day in day out offer great odds on all types of sports, events, and specialised betting markets from their betting website. Yes, bigger odds are better when making bets on an event to happen. If you back something at 2/1 when you could have bet at 3/1 then, it would be a bad decision. This situation is reversed if you are playing the bookmaker, perhaps on a betting exchange, where you want to 'lay' bets at lower odds.

Other Competitions

There are two options if you are looking for the best odds on horse racing. Firstly, using a betting exchange is one way of getting, in general, better odds than using a traditional bookmaker. Betfair SP consistently outperforms the normal industry starting price. The other way of finding the best odds on horse racing is bet best uk betting sites not on gamstop using an odds matrix. On OLBG we researched and discovered the best bookie for horse racing.

American money line odds

It is to help bettors make informed decisions by identifying the best available odds for your bet. Betting odds represent the probability of a particular outcome. The bookies all construct their books based on percentage probability and understand it fully, we as punters need to do the same. The bookmakers are in business to make a profit. They build in a profit margin on all events, this is called the overround. In this scenario you would double your stake if placing a winning bet. Before making a bet, a bettor may want to take into account the profit and their wager to work out the percentage return if they win. For example, odds of 3/1 would provide a 300% profit as the payout from the bookie, as well as 100% of the money wagered.

Football Match Results

Most people who bet on the 1x2 markets on football each week combine their fancied selections to form an accumulator whilst doubles and trebles can be popular bets on other sports too. You can spot which bookie is best for each bet on the relevant market pages but it is more complicated comparing the combined odds of several selections and this is where the Bet Basket comes in. Simply add each of your favoured selections to your Bet Basket and you'll then be able to see the combined odds of those selections at each bookie. This will make picking the best bookie for your bet as easy as if you were placing a single. Odds comparison sites also give you masses of information about all of the day's betting markets.

The OddsGuard Way

You will have the ability to browse the steamers, drifters and sleepers of the day. Steamers are selections that have been very well backed throughout the day, this may be because they were simply overpriced early on or it can also mean an outcome is very strongly fancied. Following other people's money can often be profitable if you are careful what you are betting on. Many of the tipsters on social media networks just follow the money with little or no form study, this is not something we would recommend rather it should just be another string to your bow. An example of this would be unraced horses, when one is strongly fancied but there is no form.

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Likewise you can also see the biggest drifters of the day. Drifters are bets that people generally don't want to back so the bookmakers are offering bigger odds to entice people in. Selections that drift can and do win. Sleepers are selections that are much bigger at one bookmaker than the rest. This may be because they simply don't fancy it but is most commonly because the traders have been slow to react to changes in the market. If the bettor wagered £10 and won, their profit would be £30 + the bet of £10 = a return of £40.

Betting Market	Real Madrid	Borussia Dortmund	Draw
90 Min Result	1.65	5.50	4.00
To Lift Trophy	1.30	3.50	N/A
Both Teams to Score	1.80 (Yes)	1.90 (No)	N/A

To convert fractional odds to percentages, use the formula (x / y) * 100 with x/y representing the fraction.

Odds Matching Sites

If the bettor wins; their predicted outcome materialises; they will take six times their bet from the bookie (in this case). For example, if you were to stake £1 then you would receive £7 back from the bookmaker in this case – £6 profit plus your initial stake. The odds are calculated by the bookmaker. They will estimate the probability of an event taking place and based on their prediction, will display odds. William Hill offers the reader and bettor the opportunity to request their own odds.

Have a bet on:

Through the popular #YourOdds on Twitter, punters can request odds on an outcome not listed by the bookie at the time and be one of the first to place a bet on a specific outcome of their choice. The social media team will pass on the punter’s requests to the traders upstairs, and if the request is approved, the punter will be able to bet on their own fully customised odds on the day they requested them before anyone else. You are looking for odds on something you want to bet on? On William Hill’s website, you will find the odds you are looking for and a breakdown of what the odds are for specifically. William Hill offers odds for many different aspects of an individual event.

Fractional odds

For example, for a football match, you could bet on goals scored, yellow cards, fouls, corners in the first half or the final score. Each outcome will have been priced up individually based on the probability of it happening. You will likely come across fractional odds first when looking for betting odds. Fractional odds, for example, show us our potential bet football betting app free winnings if we wager the corresponding stake. The number on the left-hand side is your winnings if you were to stake the figure on the right-hand side. A bet of £10 with the odds 7/3. Add the wager to the won amount = £33.33 return.

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When presented with fractional odds, it can sometimes be very easy to determine the probability of an occurrence, but at other times it might not be so simple. Knowing the probability of an outcome can be essential to bettors who are perhaps not as well informed on a certain event, so if you want to put a bet down but would like to understand how likely the outcome is with data and a fixed probability, use the formula (y / (x + y)) * 100 where odds equal x/y.

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Odds: 3/1 (1 / (3 + 1)) * 100 (1 / 4) * 100 0.25 * 100 25% probability of winning Odds: 7/3 (3 / (7 + 3)) * 100 (3 / 10) * 100 0.3 * 100 30% probability of winning Odds 1/1 (1 / (1 + 1)) * 100 (1 / 2) * 100 0.5 * 100 50% probability of winning which is why odds of 1/1 is called “evens”. It is always worth considering that the odds displayed and offered by bookies are always probability based and can never be made as a guarantee that a certain event will happen.

Matchup	DraftKings	FanDuel	Caesars
Chiefs vs Ravens	-150 / +130	-145 / +125	-155 / +135
49ers vs Cowboys	-120 / +100	-115 / -105	-125 / +105
Bills vs Dolphins	-110 / -110	-105 / -115	-110 / -110

Now that you have a good understanding of fractional odds and probability and are ready to start weighing up individual bets. William Hill provides unmatched betting odds across sports, television, politics and more.

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Another format of odds that is popular among punters is decimal odds. Decimal odds use a decimal format to display the stakes and are usually utilised for a quick view of the probability of an event.

Odds Comparison

For example, with odds of 10/1, £10 would be your winnings if you placed a £1 bet and won. To read the betting odds, click on the event you are interested in and take note of the odds listed. They will be fractional, in decimal or American format, each of which will be explained below. Fractional odds use a fractional format to display possibility of an event happening. This is one of the most straightforward ways of determining how much you will win from a bet and is a quick and simple way to understand the probability of an event happening. Decimal odds also make it easier for punters to compare odds without complicated mathematical formulas and allow for a quick view of potential winnings. The higher the number, the higher the potential winnings.

Game	Online Casino A	Online Casino B	Land-Based Casino	Theoretical RTP
Blackjack	99.50%	99.60%	99.30%	99.5%+
European Roulette	97.30%	97.30%	97.30%	97.3%
Slots (Avg)	96.00%	95.80%	92.00%	92-98%
Video Poker (Jacks or Better)	99.54%	99.54%	99.54%	99.54%

The William Hill website allows bettors to choose between their preferred odds format, be that decimal or fractional.

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