I saw a great football accumulator last week which, if the four results came in, the odds were 33/1 so I decided to stick a tenner on it wanted to know how much I could win? Fortunately working out this bet wasn’t too difficult. 33/1 or any odds you’d like to name for that matter can be worked out quite easily. 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.

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 classed as an ‘Outsider’ or ‘Longshot’. And just to put that into context, the tennis player Nishikori is 33/1 to win Wimbledon this year (2018). That’s with Nadal, Federer, Djokovic and Del Potro all still in contention and only eight players left in total. So in this instance he is definitely a longshot.

However, there are some sports where 33/1 is winnable and that’s usually in horse racing, particularly when there are large fields of runners and a slice of luck is needed to get them over the finish line e.g. The Grand National or various cross country races at Cheltenham and at those odds you’ll have plenty of choice and a greater chance of winning.

A straight up 33/1 to win bet is simple. The maths become slightly trickier when you decide to place an each way bet but it’s still relatively easy to work out. Firstly an each-way bet is a bet with two parts. The first is to win, the second is to place. Each part of the each-way bet is an equal stake, e.g. 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 Spurs to win the 2018/19 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 place (over 33 runners or more) and you can still win.

The payout odds for each-way bets are quoted when you decide to make your bet and these also vary. 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 placed at 33/1. However, you can also use our online bet calculator to work out other odds and stake combinations.

33/1 WIN BETS

£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

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 assumes 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.

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