Last week, I came across a fantastic football accumulator with odds of 33/1 if four results won. Intrigued, I decided to wager a tenner and mused on the potential winnings. Luckily, calculating the returns wasn’t too difficult.

The first number (33) is the amount you’ll win from wagering the second number (1). Whether this is in pounds, dollars or monopoly money, it doesn’t really matter.


£1 @ 33/1 = £33
£2 @ 33/1 = £66
£5 @ 33/1 = £165
£10 @ 33/1 = £330
£25 @ 33/1 = £825
£50 @ 33/1 = £1650
£100 @ 33/1 = £3300
The amounts above do not include returned stakes.


As an example, a £1 winning bet at 33/1 will payout £33, plus your £1 stake is returned, so your profit is £33, and all is right with the world! If you increase the stake to £2, you’ll get £66 back plus your £2 stake. You can see where this is going. Just multiply the first number by the second number, and that’s what you win.

33/1 is a very healthy return on a bet. Any horse or team with odds of 33/1 to win would be called an ‘Outsider’ or ‘Longshot’.




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However, in horse racing, particularly when there are large fields of runners e.g. The Grand National or various cross-country races at Cheltenham, horse prices at 33/1 are worth consideration. Especially as most bookmakers now offer enhanced each-way places on the big races.



£1 @ 33/1 = £33
£2 @ 33/1 = £66
£5 @ 33/1 = £165
£10 @ 33/1 = £330
£25 @ 33/1 = £825
£50 @ 33/1 = £1650
£100 @ 33/1 = £3300


The maths become slightly trickier when you place a 33/1 bet each way, but it’s still relatively easy to work out. Firstly each-way is a bet with two parts. The first is to win, and the second is to place. A £1 Each Way bet will have £1 on the ‘Win’ and £1 on the ‘Place’ for a total stake of £2.

In football tournaments, this is generally only two places. For example, if you back Chelsea to win the 2020/21 Premier League at 12/1 each way, they will either have to win or come second in the league for you to win your bet. When you back a horse each way, it can finish 1st, 2nd, 3rd, and in some races, even 4th and 5th place, and you can still win.

The payout odds for each-way bets are quoted when you decide to make your bet. In most cases, you’ll get 1/4 the quoted odds  or 1/5th. In this example, we will assume they are one-quarter odds, so if you pick a 33/1 horse that finishes in 2nd place, you will be paid out at 8.25/1 (one-quarter of 33). A £1 each way bet (total cost £2) will win you £8.25 + £1 stake returned. However, you will lose the £1 part of the stake that was on the win.

If your horse finishes first, you’ll win £33 (Win bet) + £1 (Stake) + £8.25 (Place bet at 1/4 odds) + £1 (Stake) so you will end up with £43.25 in your pocket.

So there you have it, 33/1 explained in simple terms. I’ve added a payout guide below for some common bets at 33/1. However, you can use our online bet calculator to work out other odds and stake combinations.


33/1 EACH WAY BETS (2nd, 3rd or 4th Place)

£1 @ 33/1 = £8.25
£2 @ 33/1 = £16.50
£5 @ 33/1 = £41.25
£10 @ 33/1 = £82.50
£25 @ 33/1 = £206.25
£50 @ 33/1 = £412.50
£100 @ 33/1 = £825.00

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 the race, you can add together the win bet column and place bet column to get the correct amount. For example, a £10 win at 33/1 pays = £330 and £10 each way at 33/1 = pays out £82.50, giving you a total of £412.50 plus your stake is returned.


Bookmaker odds fluctuate for various reasons, and understanding why they do so is crucial for successful sports betting. Horse racing, football, and golf are three popular sports where bookmaker odds can fluctuate, and it is important to understand the factors that contribute to this fluctuation.

One of the key factors that affect bookmaker odds is betting patterns. If many people are betting on one particular outcome, the bookmaker may adjust the odds to balance their books and reduce their risk. This can result in odds fluctuation as the bookmaker tries to maintain a balanced book and avoid exposure to large losses.

Punters can take advantage of odds movement by arbing bets. Arbing involves placing bets on different outcomes at different bookmakers to take advantage of the differences in odds. This can result in a guaranteed profit, regardless of the event’s outcome.

In horse racing, the fluctuation of bookmaker odds can be influenced by the form of the horses, the track conditions, and the jockey. If a horse is performing well and is expected to win, the odds for that horse may shorten, while if a horse is not performing well, the odds for that horse may lengthen.

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To wrap things up, it’s worth noting that bookmaker odds tend to fluctuate for a range of reasons. Including betting patterns, the volume of money, and changes in circumstances surrounding the event. Understanding why bookmaker odds fluctuate is crucial for successful sports betting, and punters can take advantage of odds movement by arbing bets.



If you’re interested in placing bets online with a reputable bookmaker then Betfred has a great bonus bet deal for new customers. If you want to know how you work out your 40/1 bet, just click here!

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