Understanding sports betting odds and calculating value bets

betting > odds comparisons


The premise is simple: place a bet on a market with enhanced odds, and if it wins, you’ll get a better payout than you would otherwise.

Football Betting Tips

The biggest deduction possible is 90p in the pound which happens when the non-runner was priced at a very heavy favourite at odds of 1/9 or shorter.The smallest deduction is 5p in the pound which happens when the non-runner was priced at 10/1 to 14/1 inclusive. When you are placing a bet for a future race - often called an “antepost” bet, it is sometimes possible to place that bet with a popular concession called “Non Runner No Bet” (NRNB). A lot of bookmakers offer NRNB after a certain date on the races taking place at the Cheltenham Festival. It is also widely offered after a certain date on the Grand National. Generally, with antepost betting the odds on offer factor in the chance of the horse actually contesting the race as well as winning it.

Grand National

So antepost odds can often be bigger than the odds you’d be able to get on the day of the race. However, with antepost betting you risk losing your stake if your horse doesn’t run due to injury or the owner/trainer deciding to go elsewhere. With No Runner No Bet you can back your horse safe in the knowledge that you’ll get your stake refunded if it doesn’t run so it’s a great safety net if you’re betting on events happening in the future. On the downside, the odds offered can be a lot shorter than what you can get from a bookmaker not offering NRNB. If it’s your first time betting, you’ll want bet uk gambling sites sports to clue up on the different bet types you’ll find at bookmakers with the best horse racing odds. Loads of top bookmakers offer price boosts — which are usually indicated with a special symbol beside the relevant bet — on daily racing around the UK and Ireland. It’s also worth looking out for these offers in the run-up to the biggest horse racing meetings such as the Grand National, Cheltenham, or Royal Ascot. Some bookies also dish out odds boost tokens which can be used by the punter to enhance the odds on a bet of their choice.

Check Out Our Expert Horse Racing Tips

It’s easy to calculate the potential payout using decimal odds — simply multiply them by your stake amount. Although the odds factor in things like how much money has been placed on a horse and the bookmaker’s profit margin, the price roughly represents probability. The calculations can be a bit tricky, but for an example let’s say a favourite is priced to finish in the places at 8/13. We need to use the formula B / (A + B) x 100%, where A is the smaller number and B is the bigger number. That gives us 13 / 21 * 100% = 61.9%.

Responsible Gambling

For another example, say, 7/2, the calculation would be 2 / 9 x 100% = 22.2%. It is important to be aware that you won’t always get paid out at the horse racing betting odds you took. If, after your bet was placed, a “non-runner” is declared, a rule 4 deduction will be applied to bets struck prior to that horse being pulled out. The size of the deduction is based on the odds of the horse before it was pulled out. The shorter the odds, the bigger the deduction and if the horse was priced at odds bigger than 14/1 no deduction will be made at all. Perhaps the best way to take advantage of these is enhance a bet on the favourite, thus improving the odds on a result that’s more likely to come in.

  • Using odds comparison tools to identify arbitrage opportunities across bookmakers
  • Comparing odds boost promotions for specific events between sportsbooks
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  • Analyzing odds differences for in-play betting on football corners and cards

Best Odds Guaranteed is a very popular promotion offered by bookmakers on horse racing. With Best Odds Guaranteed you can take a price on a horse and, if the SP is bigger, get paid out at the bigger price.

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So if you backed a horse at 4/1 and the horse was well backed into 2/1, you’d get paid out your 4/1 odds. If you backed a horse at 4/1 and it drifted in the betting to 8/1 before winning, you’d get paid out at those 8/1 odds.

Bookmaker Manchester City Arsenal Liverpool Odds Format
Bet365 2.10 4.50 5.00 Decimal
William Hill 2.15 4.33 5.25 Decimal
Pinnacle 2.08 4.60 5.10 Decimal
Betfair Exchange 2.12 4.70 5.30 Decimal

This really is one of the most generous betting promotions out there so it’s well worth comparing Best Odds Guaranteed bookmakers on our site and prioritising them when you choose where to bet.

See How OddsGuard Works

The odds will vary between each market so it’s easy to find something that caters to your preferred level of risk vs reward. Winner – Plain and simple, this is a bet on the horse you think will come first in the race. Betting on the favourite gives a higher chance of winning with a lower reward, or you can take a punt on a long shot that might yield a bigger win. Place – A place bet allows a bit more breathing room for your bet to come good. Rather than winning outright, your horse simply needs to finish in a top position.

How to convert fractional odds to American odds?

The number of places paid usually depends on how many runners there are, and can vary from just two places up to eight or more in the biggest and most prestigious events. Each-Way – An each-way bet combines winner and place bets into one, splitting your stake between the two. If your horse comes first, both legs of the bet win and you get the maximum payout. And if it falls a little short but still gets a good enough finish, the place bet will win while you lose the win bet. Many punters like to start with this type of bet. Checking out the latest horse racing odds is a good place to start, but the prices only tell half the story. Sure, you may be tempted to simply bet on the favourite or go for a bit of a long shot — however, to get a fuller picture, racing odds should be read in conjunction with our expert tips.

Game Online Casino A Online Casino B Land-Based Casino Theoretical RTP
Blackjack 99.50% 99.60% 99.30% 99.5%+
European Roulette 97.30% 97.30% 97.30% 97.3%
Slots (Avg) 96.00% 95.80% 92.00% 92-98%
Video Poker (Jacks or Better) 99.54% 99.54% 99.54% 99.54%

On our dedicated horse racing tips page, you’ll find recommendations and previews on upcoming meets from over 50 expert tipsters.

Live Odds Comparison

Let’s start with fractional and take the example of 5/1 — here you’d stand to win £5 if you bet £1. The same goes for when the number on the left is smaller — at 1/2 odds you’d need to bet £2 to win £1. In each example, you’d get your £1 stake back as well. A larger number on the left of the slash therefore represents what we call longer odds, which means the event is less likely to happen. If the number on the right is larger, these are short odds, meaning the event is more likely to happen.

Don’t try to win back what you’ve lost

Essentially, the number represents the total amount that is won for a £1 bet. If the horse racing odds say 3.00, the payout for a £1 bet is £3. If you bet £10, meanwhile, the potential payout would be £30. With decimal odds, the number represents the total payout, including the stake. So in our example the actual profit would be £2. We feature tipsters from publications such as The Daily Mail, The Sun, and the Racing Post, alongside our very own analysts like Raceolly, Steve Chambers, and Billy Grimshaw. We provide a range of tips for today’s races, including selections for Lucky 15s and each-way bets. There’s also the Naps Table where you can compare tipsters and see whose predictions are performing best.

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As entertaining as betting on horse racing can be, it’s essential to understand the risks involved and always gamble responsibly. The activity can quickly become addictive, so staying mindful of your habits and behaviours is extremely important. A few warning signs to watch out for include: Needing to bet increasingly large amounts to receive the same enjoyment from gambling; If any of these resonate with you, it’s time to take a break and seek support from an organisation such as GamCare. Here are a few other tips to help keep your gambling safe. Only gamble at a sportsbook licensed by the UKGC. These sites must meet certain requirements around player safety and responsible gambling.

Why Use Odds Comparisons?

At least two picks need to win to land a return. Lucky 15 – This bet is very similar to a Yankee, but with the addition of four singles to make 15 wagers in total. That means you’ll still bet sports betting offers new customers get a return if just one selection wins. Want a better price on a particular horse? Watch out for enhanced racing odds, a promotion found at many of the best betting sites. All the horse racing odds sites we recommend check this box.

Today’s Racing Odds

A highlight of the flat racing calendar for many, the Prix de L’Arc de Triomphe is run at Longchamp Racecourse in Paris. Roughly 1½ miles in length, the race is open to horses of all ages and was first run in 1920. Today, over 60,000 spectators attend the Arc weekend. No horse has won the race more than twice, although legendary jockey Frankie Dettori has six wins under his belt. One of the newest big horse racing events, the Dubai World Cup was inaugurated in 1996.

Table of the Best Betting Sites by Sport

This Group 1 race takes place at Meydan Racecourse on a left-handed dirt track and is roughly 10 furlongs in length. Since 2019, it’s been the richest horse race in the world, with a total prize purse of $12 million in 2023. Thunder Snow has picked up two wins at the event (2018 and ‘19), while Frankie Dettori and Jerry Bailey are tied with four wins each. Horse betting odds may seem a bit confusing at first, particularly if you’re not sure what the difference is between fractional and decimal. However, once you get the hang of it, you’ll be able to identify the favourite and the outsiders from just a quick glance at the racing odds. While all licensed sportsbooks implement strong security measures such as encryption and anti-fraud monitoring, it’s wise to pick a secure payment method too.

Odds Comparison

Double – A double is a bet combining two selections across separate events, say Horse A to win Race 1 and Horse B to win Race 2. Both picks must win for your bet to succeed. Place and each-way bets can also be placed as doubles. Treble – A treble is just like a double, but with three picks instead of two, so it’s a bit harder to win. Accumulator – An accumulator works like a double or treble but usually refers to bets with four selections or more.

Odds Converter

Each leg of the acca must succeed for your bet to win. Trixie – A Trixie is a type of combination bet involving selections across three separate races. The bet is made up of three doubles and a treble for four bets in total. At least two of your selections need to win in order to land a return. Yankee – A more complicated system bet is the Yankee, which requires four selections: six doubles, four trebles, and a four-fold acca. We recommend e-wallets or prepaid cards for your deposits and withdrawals as you won’t have to share bank details with the sportsbook. Before you start betting, make an honest assessment of what you can afford and decide how much you want to spend during your session.