I always suggest searching for the most favourable odds. You might be surprised by the variations in odds offered by different bookmakers. This is true for all sports, particularly when betting on odds around 20/1.

Assuming you’ve found the best odds for your bet at 20/1, let’s figure out your potential winnings.

QUICK GUIDE TO 20/1 WIN BET RETURNS

£1 @ 20/1 = £20
£2 @ 20/1 = £40
£5 @ 20/1 = £100
£10 @ 20/1 = £200
£25 @ 20/1 = £500
£50 @ 20/1 = £1000
£100 @ 20/1 = £2,000
The amounts above do not include returned stakes.

Here’s how it all works:

The first number (20) 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 20 back. That is the bet in its simplest form.

A £1 winning bet at odds of 20/1 will payout £20, plus your £1 stake is returned. A stake of £2 will return £40 back (plus £2 stake). A winning bet of £10 will net you £200 plus your £10 back. And so on it goes. Simply multiply the first number by the amount you wager.

20/1 odds are usually considered generous. However, some sporting events, like the Grand National, have 40 runners, so 20/1 is good but not great because you have 39 other horses who could scupper your chances of a win. 20/1 on one football team to win a match is excellent because there are only three outcomes – win, draw, and lose. So the odds of a win are pretty decent in the grand scheme of things.

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Just remember that when the odds are good, your chances of actually winning also have to be good. If you like tennis and one player has odds of 20/1 to win, then that is NOT a good sign. In a two-player sport, the odds should be much shorter. so your tennis player, barring a miracle, probably hasn’t a chance of winning.

However, if you see the likes of Barcelona FC at odds of 20/1 to win the League at the beginning of the season, then that’s probably a better bet. Their chances of winning the title are significantly better than most teams.

20/1 WIN BETS

£1 @ 20/1 = £20
£2 @ 20/1 = £40
£5 @ 20/1 = £100
£10 @ 20/1 = £200
£25 @ 20/1 = £500
£50 @ 20/1 = £1000
£100 @ 20/1 = £2,000

There is also the option of a ‘Place’ or ‘Each-way’ bet with some sports. 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 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 your team/player/horse wins, you’ll get your £20 (Win bet) + £1 (Stake) + £5 (Place bet at 1/4 odds) + £1 (Stake), so you will end up with £27 in your pocket. If they do not win but place, you will only get back £5 (Place bet at 1/4 odds) + £1 (Stake) = £6.

So there you have it, 20/1 explained in simple terms. I’ve added a payout guide below for some common bets placed at 20/1. However, you can also use our online bet calculator to work out other odds and stake combinations.

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20/1 EACH WAY BETS (2nd, 3rd or 4th Place)

£1 @ 20/1 = £5
£2 @ 20/1 = £10
£5 @ 20/1 = £25
£10 @ 20/1 = £50
£25 @ 20/1 = £125
£50 @ 20/1 = £250
£100 @ 20/1 = £500

Amounts above do not include returned stakes and assume the bet is settled 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 £10 win at 20/1 pays £200 + £10 place at 20/1 pays out £50, giving you a total of £250 plus your £20 stake is returned.

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BETTING GUIDES

FINDING VALUE BETS

A value bet is a bet where the odds offered by a bookmaker (20/1) are better than the true probability of an event occurring. In other words, if you believe there is a higher chance of an outcome happening than the odds imply, then you have identified a value bet.

Value bets are important in sports betting because they can lead to long-term profitability. If you consistently find value bets and bet on them, even if you don’t win every time, you should make a profit in the long run. This is because the odds offered by bookmakers are not always an accurate reflection of the probability of an event occurring. Bookmakers must consider various factors, such as public opinion and the amount of money bet on each outcome, which can influence the odds they offer.

To find value bets, you need to have a good understanding of the sport or event you are betting on and be able to assess the probability of different outcomes. You also need to compare the odds offered by different bookmakers to identify situations where the odds are better than they should be.

It’s important to note that not every bet you place will be a value bet. However, by focusing on finding value bets and betting on them consistently, you can increase your chances of long-term profitability in sports betting.

If you’re interested in placing bets online with a reputable bookmaker, Betfair has a promotional offer for new customers.