Betting odds need to be explained as they are one of the most important things when betting at LV BET. For beginners, this may be confusing but it’s quite simple as you will soon find out. Betting odds boils down to the probability of something happening, be it your team scoring, winning the match and more, you name it. Whenever you see two numbers separated by a slash, i.e. 3/1, it is called fractional odds and the decimal odds are displayed in numerical form, i.e. 4.00. They mean the same but are represented and used for slightly different reasons.
Fractional betting odds explained: These are useful if you want to calculate how much money you will win on your bet in comparison to your stake, the number on the left being how much you get and the one in the right how much you need to stake. On a 4/1 bet, every €/£1 you bet you can win €/£5 (€/£4 net winning plus your €/£1 stake).
Decimal betting odds explained: Decimal odds allow you to calculate how much money you will be returned should your bet win. You can do so by multiplying your stake by the decimal number shown and that is how much you will receive – including your stake. E.g. 5.00 can be calculated as (5.00 x €/£10 stake) – €/£10 stake = €/£40 net winnings. Now you might be thinking, which of the betting odds explained here are the right one for me? Well, there’s no right and wrong, but what you feel more comfortable with when betting.
Historically, fractional odds were used in the UK, especially on traditional racetracks such as Epsom and Cheltenham. You will find two main differences: decimal odds are generally easier to understand than fractional. Based on this, there is a movement to attract more people to horse racing by making it more accessible to the average person by displaying odds in decimals. At LV BET you can select how you want to view the betting odds, so you can always feel comfortable placing your bets.