You’ll see that when betting on a horse, there’s often the option of using decimal odds or fractional odds.
Decimal odds are the most popular odds currently in use and we’re going to explain just what they are in this article.
Pretty much every single bookmaker will use decimal odds and as they go to two decimal places, you get a much better understanding of the odds you’re getting.
Decimal odds clearly state the money you will be given from a bet of one unit. The thing to watch out for is just what one unit is as for some bookmakers this will be £1, but some it will be £10, or even £100.
Usually, a unit is £1, so if the decimal odds are 3.00, it means that if your bet wins, you’ll receive £3. These odds are the equivalent to 2/1 in fractional terms, but the difference is that decimal odds include your stake.
Using decimals can give you a much better idea of what odds you’re getting and say you get odds of 4.85, it’s pretty each to work out that for every unit staked, your returns would be £4.85. The fractional equivalent to 4.85 is 77/20, and that looks quite a bit more complicated, wouldn’t you agree?
Using decimal odds certainly has its advantages, especially if the fractions are tough to work out.
You must remember to check just what the value of a bookies’ unit is though. Once you do that, it’s pretty simple!