Before I even go through how to work out your 100/1 bet, I should point out that those kind of long shots are rare. In fact, you'll generally only get them well in advance of any sport that you are thinking about betting on. And even then, well… it's a 100/1!
100/1 winning bets tend to make the news. That's because they are quite rare. Yes, there will always be some one who took a mad punt on a long-shot and won. But that's the exception and not the rule. However, if you are one of those very lucky people who backs and wins with a 100/1 shot then this is how to work out your bet.
The first number (100) is the amount you’ll win from wagering the second number (1). So for every £1 or $1 or €1 you spend, you will win 100 back. It really is that straight forward.
A £1 winning bet at odds of 100/1 will payout £100 plus your £1 stake is returned. If you place more the returns are increased by the amount you bet. So a stake of £2 will return £200 back (plus £2 stake). A winning bet of £50 will net you £500 plus your £10 back. Al you have to do is multiply the first number by the amount you wager.
There are few sports where 100/1 will even be an option in the betting. As an example we will use horse racing. In the most popular races the runners are very well known. For the Cheltenham Gold Cup in 2019 three horses are on 100/1 five weeks ahead of the race. There are two reasons for this.
The first is because they probably won't even run. The second reason is because even if they do run, the competition is so fierce that they have no chance of winning. However, if you think that Give Me A Copper, Mala Beach or Outlander will win the Gold Cup then at least the race is now Non Runner No Bet. That means that even if they get withdrawn, you will at least get your stake back!
Occasionally 100/1 long shots do return a win. In 2009 Mon Mome won the Grand National for trainer Venetia Williams. Undoubtedly an extraordinary feat but also one that hadn't happened since 1967. And that was Foinavon!
100/1 WIN BETS
£1 @ 100/1 = £100
£2 @ 100/1 = £200
£5 @ 100/1 = £500
£10 @ 100/1 = £1000
£25 @ 100/1 = £2500
£50 @ 100/1 = £5000
£100 @ 100/1 = £10,000
The Each-way Bet
In the context of long shots an each-way bet is a better one to consider. Depending on the bookmakers, those payout odds vary. So we will assume for the purposes of this article that it's a quarter odds.
A ‘Place' or ‘Each-way' option means you are backing your horse/team/player to both win and place. If they finish in either 2nd, 3rd or even 4th place (depending on the bookmaker) you may still get some money back.
However, this also doubles your stake. That is because you are both betting on a win AND betting on a place so a £1 bet will now become £2. You are putting £1 on the Win and another £1 on the Place.
If you win you'll get your £100 (Win bet) + £1 (Stake) + £25 (Place bet at 1/4 odds) + £1 (Stake) so you will end up with £127 in your pocket. If they do not win, but place, you will only get back £25 (Place bet at 1/4 odds) + £1 (Stake) = £26
So there you have it, 100/1 explained in simple terms. You can also check out my payout guide below for the potential returns on an each-way bet placed at 100/1. However, you can also use our online bet calculator to work out other odds and stake combinations.
100/1 EACH WAY BETS (2nd, 3rd or 4th Place)
£1 @ 100/1 = £25
£2 @ 100/1 = £50
£5 @ 100/1 = £125
£10 @ 100/1 = £250
£25 @ 100/1 = £625
£50 @ 100/1 = £1250
£100 @ 100/1 = £2500
Amounts above do not include returned stakes and assumes the bet is settle each-way at a quarter odds.
If your each way bet wins you can add together the win bet column and place bet column to get the correct amount. For example, a £5 win at 100/1 pays £500 + £5 place at 100/1 pays out £125 giving you a total of £6250 plus your £20 stake is returned.