What does 2/1 odds mean?

Betting with fractional odds can be confusing if you’re new to it. This is a traditional odds type that shows you how much money you win as profit, relative to the stake you put down.

It’s fairly straightforward stuff when you see simple odds like 3/1, 5/1, 7/1, etc. Evidently the higher the number, the less likely the selection is to win.

But let’s row back a bit here. Those who are either new to betting or new to the concept of fractional odds understandably need a little more detail as to what’s going on.

In fact, one of the most commonly-asked questions when it comes to sports betting odds is: what does 2/1 odds mean, and what does 1/2 odds mean?

Well, in this guide we’ll look at fractional odds and use “2/1” and “1/2″ as our examples. Once you understand these odds it’ll be easier to get a grasp of all other fractional odds.

First, though, it’s important to understand exactly what’s going on with these fractions.

How fractional odds work

Fractional odds show how much profit you can earn from a winning bet, relative to your stake. The profit figure sits to the left of the slash, and the stake to the right.

what odds mean — Example of odds in horse racing

So, in our horse racing betting example, if you bet on Saga Des Aigles to win the 18:30 at Dundalk at odds of 9/1, you earn £9 for every £1 staked. Of course, if you bet £5 then you earn £9 x 5 = £45 profit PLUS your stake back.

So, now we know how fractional odds work, it’s easy to understand what 2/1 odds means. Here, you earn £2 profit for every £1 staked.

If you bet a quid on Ferrari Dessert and it wins, you earn £2 profit + your £1 stake = £3 in total.

example of 2/1 odds — Horse racing odds at 2/1

What does 1/2 odds mean?

1/2 odds work in exactly the same way but here your profit is smaller than your stake. Your overall return is still larger, of course, but the profit is smaller.

Why’s that? Because this is an odds-on price, where the likelihood of your selection winning is so high that it’s above 50%.

Here’s an example from Paddy’s football betting pages. Stuttgart are 1/2 to beat Young Boys at the half-time point of a match. The score is 0-0 yet Stuttgart are still reckoned to have an odds-on chance of winning. In fact, 1/2 represents a 66.6% chance.

Example of 1/2 odds — Paddy Power example of 1/2 odds

So there you have it. The 2/1 odds shows you how much profit you earn relative to your bet, just like any other fractional odds. 2/1 carries an implied probability of 33.3%, while 1/2 suggests a 66.6% chance of something happening.