You've seen an incredible betting opportunity at 66/1 but how much could you win if your chickens come home?? Luckily for you, working out this bet isn't too difficult. 66/1 or any odds you’d like to name have a very simple formula. The first number (66) is the amount you’ll win from wagering the second number (1). You simply multiply the odds by your stake and hey presto, that's what you could win!
As a nice handy example, a £1 winning bet at 66/1 will payout £66 plus you get your original £1 back. If you increase that to £2 you'll get £132 back plus your £2 bet.
66/1 is an extraordinary return on a bet and if you have had a tip-off it may be worth the stake. Ordinarily any sport that offers 66/1 generally means that the team/person/horse/greyhound is statistically unlikely to win but stranger things have happened. Auroras Encore in the 2013 Grand National anyone?? Yes, the Sue Smith trained 11-year-old defied the odds and romped home at 66/1 giving a lot of people a fantastic windfall and that's where you need to be looking when you are considering bets with such large odds. Horse races with big fields of runners can often be an excellent opportunity to bag a cheeky win.
The only time 66/1 becomes a little more complicated is when you've backed a horse at 66/1 each-way. Don't panic just yet, it also has an easy maths formula to follow and it works like this. When you back a horse each way it can finish 1st, 2nd, 3rd and in some races even 4th place and you could still win. There are two parts to the each-way bet and both have an equal stake, e.g. a £1 Each Way bet will have £1 on the ‘Win' and £1 on the ‘Place' for a total bet 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 66/1 so you will be paid out at 16.5/1. A £1 each way bet (total cost £2) will win you £16.50 + £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 £66 (Win bet) + £1 (Stake) + £16.50 (Place bet at 1/4 odds) + £1 (Stake) for a total of £84.50.
So there you have it, 66/1 explained in simple terms, I’ve added a payout guide below for some common bets placed at 66/1. However, you can also use our online bet calculator to work out other odds and stake combinations.
66/1 WIN BETS
£1 @ 66/1 = £66
£2 @ 66/1 = £132
£5 @ 66/1 = £330
£10 @ 66/1 = £660
£25 @ 66/1 = £1,650
£50 @ 66/1 = £3,300
£100 @ 66/1 = £6,600
66/1 EACH WAY BETS (2nd, 3rd or 4th Place)
£1 @ 66/1 = £16.50
£2 @ 66/1 = £33.00
£5 @ 66/1 = £82.50
£10 @ 66/1 = £165
£25 @ 66/1 = £412.50
£50 @ 66/1 = £825.00
£100 @ 66/1 = £1650.00
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 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 66/1 pays £660 + £10 each way at 66/1 pays out £165 giving you a total of £825 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.