No matter what way you look at it, 80/1 is a long shot. There is no dressing it up. If you're considering an 80/1 shot, you may want to look at all your options. If you've won an 80/1 bet, then good for you! Read on to find out how you work your bet.
The easiest way to calculate your returns on an 80/1 bet is to multiply how much you ‘bet to win' by the number 80. It's very simple. So if you put £1, €1 or $1 on odds of 80/1 and the bet wins you will get back £80, €80 or $80. Currency is irrelevant. The results are the same.
Odds are designed to give both you a chance of winning and also make the bookmaker some profit. The theory is that the smaller the odds, the more likely it is that your bet will win. The higher the odds go, the more unlikely your bet will win – again, in theory.
As I've said before 80/1 is a longshot. But it's also not impossible to win with either. One factor is how far in advance you place the bet. Odds months in advance of a tournament, a big race or a league tend to be higher. The closer you get to the event, the lower the odds get. More people are putting money on plus additional information is available and that changes the algorithms for the bookmakers.
If you are looking at a very large horse race such as the 2019 Grand National, which has 40 runners, 80/1 would still be iffy. As an example, today as I write this, there are six potential Grand National runners on 80/1 antepost with Bet365.
One finished 100L behind the winner of a race a month ago (poor form). Another hasn't won a race in nearly three years. The remaining four have no chance of making the cut because they are so far down the list of entries following the allocation of weights.
So while 80/1 has the potential to return a large profit, finding one that actually will is another matter entirely. Football Acca's are a good way to bulk up the odds if you are looking for better value and think you can predict the outcome of a few games.
Alternatively, if you are looking ahead to a game or a tournament and your chosen player is 80/1 to win outright, and you know they might go far, then that's a reasonable punt to take.
80/1 WIN BETS
£1 @ 80/1 = £80
£2 @ 80/1 = £160
£5 @ 80/1 = £400
£10 @ 80/1 = £800
£25 @ 80/1 = £2000
£50 @ 80/1 = £4000
£100 @ 80/1 = £8000
You could also look at the ‘Place' or ‘Each-way' bet. Again, the odds on which they will payout will vary between each bookmaker. For the purpose of explaining it in this instance we will say it's a quarter odds.
The ‘Place' or ‘Each-way' option this means that you could still get a return on your bet even when your horse/team/player doesn't win. However, it will still need to finish in 2nd, 3rd or 4th place in whatever competition they're in. Sometimes with Golf, you can get up to 6 or 7 places.
It's important to remember that your stake will double as you are betting on both a win and a place. So now a £1 bet becomes a £2 bet as you've bet on two outcomes.
If your 80/1 bet comes in and you are a winner you will get £80 (From win bet) + £1 (From your stake) + £20 (From your bet placing a 1/4 odds) + £1 (From your stake). This means from a £2 ‘Place' or ‘Each Way' bet you'll end up with £102!
If your bet doesn't come first but does place you'll get £20 (From your bet placing a 1/4 odds) and £1 (From your stake) meaning £21 back from £2.
Effectively that's all there is to know about calculating an 80/1 bet. However if you need more help with working out other odds then use our online bet calculator! Below is examples of some bets placed at 80/1.
80/1 EACH WAY BETS (2nd, 3rd or 4th Place)
£1 @ 80/1 = £20
£2 @ 80/1 = £40
£5 @ 80/1 = £100
£10 @ 80/1 = £200
£25 @ 80/1 = £500
£50 @ 80/1 = £1000
£100 @ 80/1 = £2000
Amounts above do not include returned stakes and assumes the bet is settle each-way at a quarter odds.
If you’re interested in placing bets online with a reputable bookmaker then Betfair has a great bonus bet deal for new customers.