So you've placed a bet at 16/1 and you want to know how much you'll win? Fortunately working out this bet isn't difficult. 16/1 or any odds you’d like to name for that matter work like this… The first number (16) is the amount you’ll win from wagering the second number (1). Whether this is in dollars, pounds or smarties, it doesn't really matter.
For example, a £1 winning bet at 16/1 will payout £16 (plus your £1 stake is returned). If you increase the stake to £2 you'll get £32 back (plus £2 stake).
16/1 is a very healthy return on a bet. A horse with odds of 16/1 would be classed as an ‘Outsider' or ‘Longshot'. You will see plenty of horses in races like the Grand National or Cheltenham Gold Cup priced up at 16/1.
The only time 16/1 becomes slightly complicated is when you've backed a horse at 16/1 each-way. Don't worry its not rocket science to work this out, you just need to understand a few racing rules and basic maths. When you back a horse each way it can finish 1st, 2nd, 3rd and in some races even 4th place (over 16 runners or more) and you will still win. Each part of the each way bet is an equal stake, e.g. a £1 Each Way bet will have £1 on the ‘Win' and £1 on the ‘Place' (a total stake of £2).
If the horse is ‘Placed’ which means it finishes in 2nd, 3rd or 4th you’ll get a quarter of the quoted odds – in this case, the quoted odds are 16/1 so you will be paid out at 4/1. A £1 each way bet (total cost £2) will win you £4 + £1 stake returned. However, you will lose the £1 part of the stake that was on the win.
If your horse finishes first you'll win £16 (Win bet) + £2 (Stake) + £4 (Place at quarter odds of 16/1 = 4/1).
So there you have it, 16/1 explained in simple terms, I’ve added a payout guide below for some common bets placed at 16/1. However, you can also use our online bet calculator to work out other odds and stake combinations.
16/1 WIN BETS
£1 @ 16/1 = £16
£2 @ 16/1 = £32
£5 @ 16/1 = £80
£10 @ 16/1 = £160
£25 @ 16/1 = £400
£50 @ 16/1 = £800
£100 @ 16/1 = £1600
16/1 EACH WAY BETS (2nd, 3rd or 4th Place)
£1 @ 16/1 = £4
£2 @ 16/1 = £8
£5 @ 16/1 = £20
£10 @ 16/1 = £40
£25 @ 16/1 = £100
£50 @ 16/1 = £200
£100 @ 16/1 = £400
Amounts above do not included returned stakes.
If your each way bet wins the race you can add together the win bet column and place bet column to get the correct amount. For example, a £10 win at 16/1 pays = £160 and £10 each way at 16/1 = pays out £40 giving you a total of £200 plus your stake is returned.
If you’re interested in placing bets online with a reputable bookmaker then Paddy Power has a great bonus bet deal for new customers.