If a bet has caught your eye at 11/8 you must want to know how much you could win! Working out these kinds of bets is not as straightforward as, for example, 10/1. However, it isn’t impossible either. It is still a relatively simple process and the maths remain the same no matter what currency you are using.
The first number (11) is the amount you’ll win from wagering the second number (8). Simply put, for every £8 that you stake, you will get back £11 if your bet wins. In theory, that doesn’t sound like much of a punt. And you really do have to wager quite a lot to make any real money off a bet with such short odds. But short odds do indicate a much higher chance of success so it can be worth it even for the small returns.
For instance, a £1 winning bet at 11/8 will payout £1.37 (plus your £1 stake is returned). If you increase the stake to £5 you’ll get £6.87 back (plus £5 stake). The maths formula for a win only bet is:
(amount staked x 11) / 8 = win returns + stake back = total amount of returns.
For example: (£7 x 11) = £77 divided by 8 = £9.62 win + £7 stake back = £16.62 returned in total.
11/8 is a solid return on a bet with low odds. You may not be able to retire on it but a win is a win.
Your choice of bet is also very important. The lower the number of possible outcomes the better for you. Think of it this way. In a football game, there are only three possible outcomes for a match. A win, a loss or a draw. So, in reality, there can only be THREE results. Home Team Wins, Away Team Wins and a Draw. So you have a one in three chance of being right.
Now think about the ‘First Goalscorer Market’. You might fancy a player to score in a game. And you may be right. But will that player score first? There are 21 other players on the pitch, any of whom could get lucky. So, in this example, there are potentially 22 outcomes. Which is statistically much higher to get right.
Ordinarily, I would also look at the each-way returns for bets. However, bets of 11/8 should really never be made each-way. You simply can’t make any money from it at all if you place. For example:
If your team/player/horse wins you’ll get your £1.37 (Win bet) + £1 (Stake) + £.34p (Place bet at 1/4 odds) + £1 (Stake) so you will end up with £3.71 in your pocket.
If they DO NOT win, you will only get back 34p (Place bet at 1/4 odds) + £1 (Place Stake) = £1.34. This is less than the £2 bet you placed!
That said, it is still better to be down just 66p than £2 which is fine for little bets. Bigger bets will seriously eat into your cash and you will eventually see all your hard earned money whittle away.
So there you have it, 11/8 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.
11/8 WIN BETS
£1 @ 11/8 = £1.38
£2 @ 11/8 = £2.75
£5 @ 11/8 = £6.90
£10 @ 11/8 = £13.75
£25 @ 11/8 = £34.38
£50 @ 11/8 = £68.75
£100 @ 11/8 = £137.50
11/8 EACH WAY BETS (2nd, 3rd or 4th Place)
£1 @ 11/8 = 34p
£2 @ 11/8 = 69p
£5 @ 11/8 = £1.72
£10 @ 11/8 = £3.44
£25 @ 11/8 = £8.59
£50 @ 11/8 = £17.18
£100 @ 11/8 = £34.37
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 you can add together the win bet column and place bet column to get the correct amount. For example, a £25 win at 11/8 pays £34.38 + £25 place at 11/8 pays out £8.59 giving you a total of £42.97 plus your £50 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.