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Working Out the Odds

This is essential for knowing how much money you are going to win. There is a simple way of doing it.

Odds = x/y     Stake = S
x/y + 1 x S
e.g. Odds = 6/4     Stake = £1
6/4 = 1.5 + 1 x £1 = £2.5

Thus at odds of 6/4 with a £1 stake the return will be £2.50.
To calculate the odds of multiple results do as follows

Match A  x/y
Match B  x/y
Match C  x/y
Match D  x/y
Match E  x/y

Returns from Match A x Returns from Match B x Returns from Match C x Returns from Match D x Returns from Match E

e.g. (all home wins with a £1 stake)

Odds of Match A 6/4
Odds of Match B ½
Odds of Match C Evens (1/1)
Odds of Match D 8/13
Odds of Match E 4/5

6/4 = 1.5 + 1 = 2.5
½ = 0.5 + 1 = 1.5
1/1 = 1 + 1 = 2
8/13 = 0.61 + 1 = 1.61
4/5 = 0.8 + 1 = 1.8

2.5 x 1.5 x 2 x 1.61 x 1.8 = £21.73

The reason that it works out like this is that if the stake is £1 at 6/4, then the returns will be £1.50 (the winnings), and the £1 stake back. Thus the total you receive back will be £2.50. This then gets reinvested as the stake for the next bet. The odds can be seen as the fraction of your stake that you will receive back in addition to your stake if your prediction is correct.

To ease the trouble of working out the odds and payouts, you can download the Odds Calculator by clicking here. 

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