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You Can Bet On It.

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You Can Bet On It.

Betting odds are to be decimalised in the UK.  Once you get used to decimal odds they are a lot easier to use than the old fractional odds.  betting exchanges have been using them for some years.
http://tinyurl.com/yhufxfc
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Re: You Can Bet On It.

I'll give you 2/1 on that the traditional racecourse punters won't like the change.
jelv (a.k.a Spoon Whittler)
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Re: You Can Bet On It.

At 2/1 they won't know the difference Wink
alanf
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Re: You Can Bet On It.

As an example on the TV News the presenter gave 2.5 to 1 as an example of the new odds. He read it as" two and a half to one". Not exactly decimal!
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Re: You Can Bet On It.

I hope not!  2.5 to 1 which is actually 5/2 in fractional odds is 3.5 in decimal odds.
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Re: You Can Bet On It.


here's the standard conversion table that explains it:
Fractional  Decimal 
10/1                 11.00
9/1                 10.00
8/1                   9.00
7/1                   8.00
6/1                   7.00
5/1                   6.00
4/1                   5.00
3/1                   4.00
2/1                   3.00
Evs                   2.00
10/11           1.91
5/6                   1.83
4/5                   1.80
8/11                   1.73
4/6                   1.67
8/13                   1.62
4/7                   1.57
8/15                   1.53
1/2                   1.50
4/9                   1.44
2/5                   1.40
4/11                   1.36
1/3                   1.33
2/7                   1.29
1/4                   1.25
2/9                   1.22
1/5                   1.20
1/6                   1.17
1/7                   1.14
1/8                   1.13
1/10                   1.10
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Re: You Can Bet On It.

Quote from: artmo
At 2/1 they won't know the difference Wink

You've contradicted this in your post with the table (2/1 on is 1.5)
jelv (a.k.a Spoon Whittler)
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Re: You Can Bet On It.

What I meant was that 2/1 is 3.00 in decimal.  That's how we got to learn the system, simply deduct the stake from the decimal to arrive at the win (3-1=2)
Likewise your example which is actually 1/2 in fractional odds is 1.50.  Deduct the stake and you win 0.50
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Re: You Can Bet On It.

[me=jelv]thinks the point of his post being made in the old style odds is being lost in a technical discussion[/me]
jelv (a.k.a Spoon Whittler)
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Re: You Can Bet On It.

Yes, apologies if i misled but 2/1 won't make a difference is an expression often used when discussing decimal/fractional odds.
Now odds on it's bed time. Smiley
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Re: You Can Bet On It.

i've never understood the original odds.  now i'm further confused. 
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Re: You Can Bet On It.

Ditto Undecided
They've been confusing me for years with these 2 to 1, 7 to 4, 100 to 8 things...now they want to do it in decimal Roll eyes
So glad I don't gamble Smiley
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Re: You Can Bet On It.

It really is simple.  If the decimal odds are say, 5.00, that's 1 for the stake and 4 for the win.  If you've put on £1 you will win £4 plus the return of your stake.
I've been using decimal odds for a few years with my betting exchange.  Initially I found it a bit confusing but am used to it now.  Wink
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Re: You Can Bet On It.

The old odds are easy to calculate as well. You multiply by the first number and divide by the second to get the winnings, you also get your stake returned.
So £1 stake at 7 to 4 is 7 / 4 + 1 = £2.75
"Odds on" is where it is shorter (more likely) odds than evens (1/1). E.g. 4/7 - this is said as "seven to four on". The same calculation applies so for £1 stake you would get £1.57
(BTW I don't bet and never have)
jelv (a.k.a Spoon Whittler)
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Re: You Can Bet On It.

Of course with decimal odds the stake is already included in the price.  So if you bet at 5.00 (fractional odds 4/1)  £5 is what you will get back including your stake.
Good job I didn't include a third column in my conversion table.  In the US there is another system which is similar but not the same as the decimal system Undecided