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Knowing how to understand and calculate odds is something that anyone who is placing bets should take the time to learn. Probability is simply how likely something is to happen. Probability is most commonly shown as a fraction by UK bookmakers, and would be two numbers separated by a forward slash (e. How to read betting odds Although fractional and decimal betting odds are the most common way a bookmaker showcases their prices on an event, it's still handy to know how the moneyline or American version works. So, if you were to place a £10 bet it would return £16. In both examples for the £10 stake the calculation is: That's our full rundown on how betting odds work, so now you will know how to read odds, what the probability of a bet winning is according to the odds and what your potential winnings are.

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