Odds of 10/11 are interesting. They are slightly worse than evens but not so low that they offer no value. But how do work out a bet if you place a wager on those odds?

They are most often seen in very close games. Particularly those in one to one games like tennis or games with two very closely matched teams. Basically, it’s when a game can go either way and the bookmaker is trying to hedge its bets. Or when there really isn’t enough info available to really pinpoint which team has the edge.

Interestingly, when a bookmaker offers a market on a game or tournament that is months away, odds like this are really popular. For example, on Paddy Power Bookmakers, for the upcoming Rugby World Cup, every team is 10/11 to win their opening match in the group stages. And in almost all cases the draw is on odds of 22/1.

However, those kinds of odds are also seen a lot in horse racing, specifically as the race gets closer. As more bets go on, one or two horses shorten in the odds often resulting in one being slightly more prominent in the betting. If enough money goes on the favourite, the bookmakers try to minimise their risk and so a horse can often become 10/11 ON to win a race.

So now we get to the working out of the odds. This is actually a very simple maths formula.

The first number (10) is the amount you’ll win from wagering the second number (11). So for every £11 that you bet, you will get back £10 if your bet wins. You basically get back a bit less than you bet, plus your stake back.

For instance, a £5 winning bet at 10/11 will payout £4.55 (plus your £5 stake is returned). If you increase the stake to £20 you’ll get £18.18 back (plus £20 stake). The maths formula for a win only bet is:

(amount staked x 10) / 11 = win returns + stake back = total amount of returns.

For example: (£10 x 10) = £100 divided by 11 = £9.09 win + £10 stake back = £19.09 returned in total.

There is an option to bet each-way on most markets. However, it is generally advised not to do this unless the odds are over 6/1. The reason is that you can’t win any money if your bet loses the win but takes a place instead. Most bookmakers pay out 1/4 odds on each-way places. But often, for much bigger events, this drops to 1/5 odds which is even less value.

So there you have it, 10/11 explained in simple terms. There’s a payout guide below for some common bets placed at those odds. However, you can also use our online bet calculator to work out other odds and stake combinations.

10/11 WIN BETS

£1 @ 10/11 = 91p
£2 @ 10/11 = £1.82
£5 @ 10/11 = £4.55
£10 @ 10/11 = £9.09
£25 @ 10/11 = £22.73
£50 @ 10/11 = £45.45
£100 @ 10/11 = £90.91

10/11 EACH WAY BETS (2nd, 3rd or 4th Place)

£1 @ 10/11 = 23p
£2 @ 10/11 = 46p
£5 @ 10/11 = £1.14
£10 @ 10/11 = £2.27
£25 @ 10/11 = £5.68
£50 @ 10/11 = £11.36
£100 @ 10/11 = £22.73

The amounts quoted above are based on each-way places being paid out at 1/4 odds. The returns do not include the original amount staked. If you place an each-way bet and it wins, you get back the win and the place winnings, plus your original stake.

If you’re interested in placing bets online with a reputable bookmaker then Bet365 Bookmakers has a great welcome offer for new customers.