Understanding betting odds is an important part of placing a wager, and 1/1 is often seen as one of the simplest formats. At first glance, the numbers may look plain, but there is more behind them than may be obvious straight away.
This blog post introduces the idea behind 1/1 pricing, touches on how it appears in real markets, and outlines how potential returns are worked out. You will also see that the same price may be shown in other formats, even though it represents the same outcome.
Read on to learn more.
Why Are 1/1 Odds Called Even Money?
You may hear 1/1 described as even money. This phrase hints at a balance between what is put down and what could be received if a selection is successful, without going into the maths straight away. The idea is that the figures on each side of the fraction are equal, which is where the phrase comes from.
In UK betting, the same price is often shortened to “evens” or written as “Evs”. These are simply alternative labels for 1/1 and are commonly used by bookmakers and bettors alike. The wording dates back to traditional bookmaking, where stakes and potential returns were discussed in units rather than cash amounts.
At this stage, it is enough to know that even money prices may appear on outcomes that bookmakers see as closely matched. The exact reason for that becomes clearer once probability is discussed later.
It is also worth keeping in mind that odds are shaped by more than just sporting performance. Bookmakers include their own margin in every market, which affects how prices are set. Because of this, the label “even money” does not mean an outcome has an exact, real-world fifty–fifty chance.
To see how this balance works in practical terms, it helps to look at how 1/1 odds behave if you place a bet.
How Do 1/1 Odds Work In Practice?
If you’re betting at 1/1, the connection between your stake and the possible profit is direct. In simple terms, the amount you might gain mirrors the amount you put down. The full amount returned includes both parts together.
These prices appear across many sports. In football, a home side facing an opponent of similar quality may be listed at 1/1 for a win. In tennis, two players with comparable rankings and recent form may also be priced around this level. The odds reflect the idea introduced earlier: neither side stands out clearly.
This is where the probability hinted at before becomes clearer. Fractional odds like 1/1 may be translated into a percentage by dividing the bottom number by the total of both numbers. For 1/1, that calculation is 1 divided by 2, which equals 0.5, or 50%. This explains why even money prices often sit near the centre of a market.
In real betting markets, you will often notice prices that sit just either side of 1/1. Odds such as 10/11 or 11/10 suggest a small shift away from that central point. These movements allow bookmakers to respond to how a market is developing.
Understanding this progression helps you read what the odds are suggesting, rather than viewing them as fixed statements. The next step is to see exactly how returns are calculated if a selection wins.
Calculating Potential Payouts With 1/1 Odds
Once you move from the general idea to actual figures, 1/1 odds become very easy to work with. Fractional odds use a simple formula to calculate profit:
profit = stake × numerator ÷ denominator
At 1/1, both parts of the fraction are the same, so the profit equals the stake. The total return is the profit plus the original amount placed.
Here are a few examples to show how this plays out if you place a bet:
- A £5 bet at 1/1 returns £10 in total if it wins. That consists of £5 profit and the £5 stake.
- A £12.50 bet at 1/1 returns £25 in total. The profit is £12.50, and the original £12.50 is also returned.
- A £50 bet at 1/1 returns £100 in total, made up of £50 profit plus the £50 stake.
If the selection does not win, the stake is lost and nothing is paid back. This outcome is no different from any other betting price, even though 1/1 may look especially straightforward.
Keeping the difference between profit and total return clear is helpful when comparing offers or reading promotion terms, as some refer only to winnings while others refer to the full amount returned.
How Are 1/1 Odds Displayed In Different Formats?
The same betting price may look very different depending on the format used. While the figures change, the meaning and returns stay the same.
Being able to recognise these formats may make it easier to follow markets across different sites or in international coverage.
Fractional Vs Decimal Vs Moneyline
Below is how 1/1 appears in the most common formats, along with a brief explanation of each:
- Fractional: This is the traditional UK and Irish format. At 1/1, the fraction shows that you win one unit for every one unit staked. As mentioned earlier, this may also be written as “evens” or “Evs”.
- Decimal: Common in much of Europe, Canada, and Australia, decimal odds show the total amount returned for every £1 placed. In this format, 1/1 becomes 2.00. A £10 bet at 2.00 returns £20 in total.
- Moneyline: Widely used in the United States, even money is shown as +100. The plus figure indicates the profit made on a £100 stake. At +100, a £100 bet produces £100 in profit, leading to a £200 total return.
Although these formats look different, they all express the same price and the same implied probability. The format you see usually comes down to location or personal familiarity rather than any difference in value.
If you choose to place a bet, it is important to do so responsibly. Decide on limits before you start, only stake money you may afford to lose, and take breaks regularly. If gambling begins to affect your finances, mood, or relationships, support is available. Independent organisations such as GamCare and GambleAware provide free, confidential advice and assistance.
With these points in mind, 1/1 odds may be straightforward to recognise, understand, and compare, whichever format or platform you come across.
**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.