If a bet has caught your eye at 11/8 odds, 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 your currency.
Quick Payout Guide 11/8 Odds
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 = £137.5011/8 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 assume the bet is settled each way at a quarter odds.
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How To Work Out The Odds 11/8
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. The 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 use our online bet calculator to find 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 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 £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.
BETTING GUIDES
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The Future of Betting Odds: AI and Machine Learning
As a passionate sports enthusiast and avid bettor, I’m always excited to explore the latest innovations in the world of betting odds. With the rapid advancements in technology, particularly in the fields of artificial intelligence (AI) and machine learning, I can’t help but ponder how these cutting-edge developments will shape the future of betting odds and enhance prediction models.
To begin with, let’s take a step back and briefly discuss the current state of affairs in betting odds.
Today, bookmakers primarily rely on algorithms and large databases of historical data to determine odds for various sports events. These models are continuously fine-tuned to account for various factors such as team form, head-to-head records, player injuries, and even weather conditions.
However, as sophisticated as these models may be, they are not infallible. Upsets and unexpected outcomes still occur, and odds can occasionally be mispriced.
Bookmakers Leverage Advance Technologies
This is where AI and machine learning come into play. By leveraging these advanced technologies, bookmakers can potentially develop more accurate prediction models and minimize errors in the odds they offer.
So, what exactly are AI and machine learning? In simple terms, AI refers to the development of computer systems that can perform tasks that typically require human intelligence, such as decision-making, problem-solving, and pattern recognition. Machine learning, a subset of AI, is a method that enables computers to learn from data and improve their performance over time without being explicitly programmed.
One of the most promising applications of machine learning in the betting industry is the development of neural networks. These complex algorithms can analyze vast amounts of data, identify patterns and relationships, and make predictions based on their findings.
In the context of betting odds, neural networks can be trained to analyze many factors that influence the outcome of sports events, such as individual player performance, team dynamics, and even intangible factors like team morale.
The potential benefits of AI-driven prediction models are enormous. For starters, they could lead to more accurate odds and better-informed bettors. By continuously refining their models and accounting for new data, bookmakers can minimize the number of mispriced odds and reduce the likelihood of bettors exploiting market inefficiencies.
Moreover, AI could revolutionize the world of in-play betting. As live events unfold, AI-driven systems could dynamically adjust odds in real-time based on the current state of play, offering bettors a more engaging and immersive experience.
That being said, it’s essential to recognize that the widespread adoption of AI and machine learning in the betting industry is not without its challenges.
Exploit Behavioural Patterns
For instance, concerns have been raised about the ethical implications of using advanced algorithms to exploit bettors’ behavioural patterns and cognitive biases. Moreover, increased accuracy in prediction models may lead to reduced profit margins for bookmakers and diminished opportunities for value-seeking bettors.
In conclusion, the future of betting odds is bound to be shaped by the rapid advancements in AI and machine learning. While there are undoubtedly challenges to be addressed, these technologies have the potential to revolutionize the betting landscape and offer bettors a more accurate, engaging, and dynamic experience.
As an avid bettor myself, I’m eagerly awaiting the day when I can pit my wits against a sophisticated AI-driven bookmaker – and hopefully come out on top!
