Each-Way AtlasGlossary: each-way, odds and racing terms
Decimal odds
Decimal odds, such as 6.0, show the total return for each £1 staked, with the stake already included. The profit is the decimal odds minus one. They convert to fractional odds by subtracting one and writing the result as a fraction. A table and an example are on the page about how to read odds. In UK betting they are the format used by calculators.
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What the term means
Multiply your stake by the decimal odds to get what comes back if the bet wins. A figure of 6.0 means £6 back for each £1 staked, which includes the £1 you put in.
The format is set by the way the organiser or operator displays prices. We have not yet recorded their wording, so the source for the definition is Not verified; the arithmetic is derived.
The short version: decimal odds are the total return per £1, so subtract one to see the profit.
How it relates to fractions
In words: the profit per £1 equals the decimal odds minus one. That profit, written as a fraction, is the fractional price, covered under fractional odds.
As a formula: fractional price = (decimal − 1) written as a fraction. The reverse is decimal = top ÷ bottom + 1. The table that pairs the common prices is on the page about how to read odds.
Why this matters to you: a calculator that asks for decimal odds will give a wrong answer if you type a fraction, so the format has to match.
The link with implied probability
Implied probability is one divided by the decimal odds. It describes what the price suggests, not the true chance of a horse winning, because a bookmaker's prices include a margin.
The idea is set out under implied probability. Short prices, such as the odds-on prices in odds-on and evens, have decimal values between 1 and 2.
| Operator (candidate; licence to be confirmed) | Formats shown for racing | Date read |
|---|---|---|
| Unibet UK | Not verified | Not verified |
| Coral | Not verified | Not verified |
Common mix-ups
- Decimal odds include the stake, but fractional odds do not.
- A bigger decimal number means a bigger return, but not a bigger chance.
- The same price in the two formats is one price, not two. Use the calculator to check by hand.
The short version: with decimal odds the stake is inside the number, so always subtract one for the profit.
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