How do you read betting odds? Example: Manchester United to win the League - 2/3?
by 
Koh Javier
ANSWERS: 4
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Well if you mean how they work them out - bookies will make up prices which they will get from 'insiders' especially in horse racing. But in more general things they will base it on form, the players they have etc. Bookies generally make up their own but of course require knowledge of the game. If you mean what do odds mean - 2/3 would mean if you put 2 pounds on you would get 3 back. So if you put 20 quit on you would get 30 pounds back and so on and so forth.
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Odds of 2/3 actually work the other way round - if you paid 3 pounds you would win 2 additional pounds, so get 5 back (2, plus the original bet of 3).
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Reading odds is fairly straightforward if you read them as follows: the figure on the RIGHT is how much you bet the figure on the LEFT is how much you win So, using your example, if you bet 3 you win 2. All winning bets also refund your original stake, so you end up with 5. At its simplest, you have an even money bet, this is a fifty-fity like a coin toss. This is expressed as 1/1, so if you win you get exactly what you bet, plus your stake, so you double your money. Bets where the figure on the left is larger are called "odds against". For example, odds of 3/1 (read as "three to one") mean that the bookmaker considers it 3 times more likely that you will lose than win. Bets where the figure on the right is larger are called "odds on". For example, odds of 1/3 (NB read as "three to one on", not "one to three") mean that the bookmaker considers it 3 times more likely that you will win than lose.
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no, ive never read it
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