Fractional odds are a popular way to represent betting lines at sportsbooks in Australia. While there is no set way to represent the odds, these are more common with operators who operate offshore. Of course, some local bookies use them as well. That’s why we’ve put together this guide for AU bettors on how to read and convert fractional odds.
Before we begin, we need to mention that using a betting odds calculator would be beneficial for any gambler. Added to that, we recommend converting odds over blindly accepting them before making a bet. This will ensure that the bet total lines up with your understanding of them. To be safe, we recommend that punters compare odds with different bookmakers to get the best price. We’ve listed a few great bookies below to get you started.
Top Fractional Odds Websites
How to Read Fractional Odds
Reading the odds is pretty straightforward when using fractions. Depending on the bookmaker, these will be represented either with the negative odds first or the positive odds first. Positive odds will have a large number first. On the other hand, the smaller number first will be negative. Usually, a bookie will give two teams in a sporting event positive fractional odds. For example:
Team A – 5/1 or five to one against
Team B – 4/10 or ten to four
So, if Team A wins and you bet $10, you’d win $50 for a total of $60. If Team B had won, you would receive $4 on a $10 bet for a total of $14. To be clear, this is an estimate because most bookies will have much closer margins for regular betting markets. Usually, fractional odds will also be a lot different at various bookmaker sites in Australia.
Converting the Odds
So, using the above example, we’ll walk you through converting fractional odds to other odds.
When converting fractional odds to decimals, always remember to add one. In the example above, we had a slightly bigger number than a direct conversion. This is because decimals always need an extra one to carry the same value as fractional odds.
Team A – 5/1 is 6.00
Team B – 4/10 is 1.4
With implied odds, this will work out as follows to a percentage:
Team A at 5/1 is calculated as 1 divided by (5+1) which is 1/6 and will be 16% probability
Team B at 10/4 isis calculated as 1 divided by (10+4) which is 1/14 and will be 71.43% probability
Team A – 5/1 or five to one is 500
Team B – 4/10 or four to ten is -250