Odds on refers to a bet where the potential winnings are lower than the stake. These types of odds are given for the favourite outcome. For example, if a horse is priced at 8/11 the first number displays the potential return based on the stake, which is displayed by the second number. So, you would need to bet £11 to get £8 back, including your £11 stake.
How to play odds on?
Playing “odds on” typically means that you are betting on an outcome that is considered more likely to happen than not. In the context of sports betting or gambling, odds on bets usually have lower potential profits because they are less risky. Here’s how to play “odds on”:
- Choose an Event: First, select the sporting event or situation on which you want to bet. This could be a football match, a horse race, a tennis match, or any other event with betting options.
- Understand the Odds: Look at the odds provided for the outcome you want to bet on. Odds on outcomes are represented as fractions or decimals, and they indicate how much you can potentially win relative to your stake.
- Fractional Odds: If the odds are in fractional format (e.g., 2/1), the number on the right represents your stake, and the number on the left represents the potential profit. For example, if you bet $10 on 2/1 odds, you could win $20 (your $10 stake plus a $10 profit) if your bet is successful.
- Decimal Odds: In decimal odds (e.g., 2.00), your potential profit is already included in the odds. If you bet $10 on 2.00 odds, you would receive a total of $20 back if your bet wins ($10 profit plus your $10 stake).
- Place Your Bet: Decide how much you want to wager on the outcome. The amount you wager is your “stake.” Enter this stake when placing your bet.
- Confirm Your Bet: Review your bet slip to ensure that you’ve selected the correct outcome and entered your stake correctly. Once you’re satisfied, confirm your bet.
- Wait for the Result: After placing your bet, you’ll need to wait for the sporting event or situation to unfold. If the outcome you bet on occurs, you’ll win the specified profit based on the odds.
- Collect Your Winnings: If your bet is successful, you’ll receive your winnings, which will be added to your betting account. You can then choose to withdraw your winnings or use them for future bets.
When playing odds on, you’re essentially betting on a favorite or a more likely outcome. While these bets are considered less risky, they typically offer lower potential profits compared to “odds against” bets, where you bet on an underdog or an outcome less likely to happen. It’s essential to manage your bankroll responsibly and understand the odds and the specific rules of the game or sport you’re betting on to make informed decisions.