Fractional odds are a staple of betting in the UK. At first glance, they can look a bit cryptic, but once you know what each part means, they become straightforward to read and compare.
This guide explains how fractional odds work, how to read prices like 5/1 and 4/6, how to calculate potential returns, and how to convert them to decimal format or implied probability. It also touches on each-way bets, accumulators and common patterns you will see across markets.
Only bet what you can afford and keep it within your limits. If you need advice or support, organisations such as GamCare and GambleAware are there to help.
What Are Fractional Odds And How Do They Work?
Fractional odds show the potential profit relative to the stake. They are written as two numbers separated by a slash, such as 5/1 or 4/6. The first number is the potential profit, and the second is the stake amount linked to that profit.
For example, at 5/1 you stand to make £5 profit for every £1 staked if your bet wins. At 4/6, you would make £4 profit for every £6 staked. This format is widely used across sports in the UK, including horse racing and football, because it makes it easy to see the profit for a given stake at a glance.
How Do You Read A Fractional Price Like 5/1 Or 4/6?
As explained above, the first number (the numerator) is the potential profit and the second (the denominator) relates to the stake. So 5/1 is read as “five to one”, and 4/6 as “four to six”.
A price is called odds-on when the first number is smaller than the second, such as 4/6. That tells you the potential profit is smaller than the stake. A price where the first is larger than the second, such as 5/1, offers a higher profit relative to the stake.
If your bet wins, you also get your stake back in addition to any profit. So a £1 bet at 5/1 returns £5 profit plus the original £1, totalling £6.
Once you can read the price, the next piece of the puzzle is turning it into a clear return figure for your chosen stake.
How To Calculate Your Return From Fractional Odds?
To work out the potential profit, multiply your stake by the first number and then divide by the second. Add your original stake to that profit to see the total return.
Take 5/1 with a £2 stake. The profit is £2 × 5 ÷ 1 = £10, and the total return is £10 + £2 = £12. For 4/6 with a £6 stake, the profit is £6 × 4 ÷ 6 = £4, and the total return is £4 + £6 = £10.
This same arithmetic works for any fractional price and stake size. If you are combining several selections or using unusual stakes, a simple online calculator can save time.
Prefer to see everything as a single number per £1? That is where decimal odds help.
How To Convert Fractional Odds To Decimal Odds?
Decimal odds show the total return for every £1 staked, including your stake. The conversion is:
Decimal odds = (numerator ÷ denominator) + 1
Using the examples above, 5/1 becomes 5 ÷ 1 + 1 = 6.00, and 4/6 becomes 4 ÷ 6 + 1 ≈ 1.67. Many sites let you switch between fractional and decimal formats, so you can view prices in whichever style feels most intuitive.
If you prefer to think in percentages rather than prices, you can express the same information as implied probability.
How To Convert Fractional Odds To Implied Probability?
Implied probability translates a price into a percentage chance based on the odds. For fractional odds a/b, use:
Implied probability (%) = b ÷ (a + b) × 100
With 5/1, the calculation is 1 ÷ (5 + 1) × 100 = 16.67%. With 4/6, it is 6 ÷ (4 + 6) × 100 = 60%. Rounded figures are fine for quick comparisons, and an online calculator is handy if you want exact decimals.
Understanding percentages is especially useful when place terms or multiple selections come into play.
Each-Way Bets And Fractional Odds Explained
An each-way bet is really two bets in one: one part on your selection to win and one part on it to place (to finish in one of the specified positions). Because there are two parts, the total stake is doubled. A “£1 each-way” bet means £1 on the win and £1 on the place, for a £2 total stake.
The place part is usually paid at a fraction of the win odds, such as 1/4 or 1/5, and the bookmaker sets which finishing positions count. For example, with 5/1 and place terms of 1/4, the place part settles at 5/4. If you place a £1 each-way bet and your selection finishes second, the win part loses, while the place part returns £1.25 profit plus the £1 place stake, totalling £2.25 back.
Always check the event’s place terms before committing, as they vary by race type, field size and sport.
Next, let’s see how the same fractional prices scale when you combine selections.
How Do Fractional Odds Apply To Accumulators And Multiples?
Accumulators and other multiples bundle two or more selections into one bet. All selections must win for the bet to pay out. The return from each winning leg becomes the stake for the next leg, which is why the totals can build quickly.
For instance, a £1 double on 2/1 and 3/1 works like this: the first leg at 2/1 pays £2 profit plus £1 stake, so £3 carries over to the second leg. At 3/1, that £3 returns £9 profit plus the £3 stake, giving £12 in total if both legs win. Add more selections and you follow the same pattern, with each settled leg feeding the next.
While multiples can produce larger payouts, they are harder to land because every selection has to come in. Consider that balance when choosing bet types.
Why Do UK Bookmakers Use Fractional Odds?
Fractional odds are the traditional way of showing prices in the UK and remain widely used because many bettors find them familiar and quick to read. They make the profit-to-stake relationship explicit, which helps when comparing potential returns across several selections.
Decimal and other formats are available, and it is common to switch between them. Still, for events like horse racing, fractional prices continue to be the default in many places.
With that context in mind, it helps to recognise a few patterns you will see time and again.
Common Fractional Odds Patterns And What They Mean
A few labels crop up repeatedly:
- Longer prices, such as 5/1 or 8/1, signal a lower chance of success according to the market, with higher potential profit relative to the stake.
- Odds-on prices, like 4/6, 1/2 or 2/5, indicate a higher chance of success, with the profit smaller than the stake.
- Even money is written as 1/1, often shortened to “evens”, where a winning bet returns the same amount in profit as the stake.
- Very short prices, such as 1/10, show a strong favourite, where a larger stake is needed for a small profit.
Keep bets within your means, set limits that suit your circumstances, and seek support from GamCare or GambleAware if you are concerned about your gambling. Understanding how fractional odds read across profit, decimal format and percentage terms gives you a clear, consistent way to assess markets and make informed choices.
**The information provided in this blog is intended for educational purposes and should not be construed as betting advice or a guarantee of success. Always gamble responsibly.