You’ve seen the odds are 50/1, but you aren’t sure how much you will win if you place the bet. Well, worry not, as all will be explained!
When working out odds, the simplest way to understand the calculation is that you’re risking the second number (1) to win the first number (50). So if you put £1, €1 or $1 on a 50/1 and the bet wins, you will get back £50, €50 or $50. The maths are the same in each currency!
QUICK GUIDE TO 50/1 WIN BET RETURNS
£1 @ 50/1 = £50
£2 @ 50/1 = £100
£5 @ 50/1 = £250
£10 @ 50/1 = £500
£25 @ 50/1 = £1250
£50 @ 50/1 = £2500
£100 @ 50/1 = £5000
The amounts above do not include returned stakes.
Odds of 50/1 are considered ‘long odds’ and signify a risky bet. You get big odds from the bookmakers when something is unlikely to happen. If you’re a tennis fan and one of the players is 50/1 to win a match, this is a BAD sign. In a two-player sport such as tennis, you would expect the odds to be a lot closer. So if the bookies are offering you 50/1 odds on a player to win, the likelihood is neither you nor that tennis player has much of a chance of winning.
£1 bet @ 50/1 odds will payout £50 (+ £1 Stake)
However, such rules don’t apply to all sports. Take golf, for example. If a player is 50/1, but they’ve been in good form, then it could be a smart bet. Below I’ve listed the returns for popular punts on 50/1.
EXAMPLE 50/1 BET (EACH WAY)
Nearly all bookmakers give you the option of a ‘Place’ or ‘Each-way’ depending on the sport. Again, the odds on which they will payout will vary between each bookmaker. For the purpose of explaining here, we will say it’s a quarter odds.
When backing the ‘Place’ or ‘Each-way’ option this means that you could still win money even when your horse/team/player doesn’t win but does finish 2nd, 3rd or 4th. However, when considering E/W (Each Way) bets, it’s important to understand that your stake will be doubled automatically, as you’re betting on both a win and a place. So for a £1 bet, you’ll need to hand over £2 to the bookie.
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If your 50/1 bet comes in 1st place you’ll get £50 (Win Bet) + £1 (Stake) + £12.50 (Place at 1/4 odds) + £1 (Stake).
This means from a £2 ‘Place’ or ‘Each Way’ bet, you’ll end up with £64.50! If your bet doesn’t come first but does Place, you’ll get £12.50 (1/4 odds) and £1 (Stake), meaning £13.50 back in total.
Effectively that’s all there is to know about calculating a 50/1 bet. However, if you need more help with working out other odds, then use our online bet calculator! Below are examples of some bets placed at 50/1.
50/1 EACH WAY BETS (2nd, 3rd or 4th Place)
£1 @ 50/1 = £12.50
£2 @ 50/1 = £25
£5 @ 50/1 = £62.50
£10 @ 50/1 = £125
£25 @ 50/1 = £312.50
£50 @ 50/1 = £625
£100 @ 50/1 = £1250
Amounts above do not include returned stakes and assume the bet is settled each way at a quarter odds.
You can use both sets of examples above to work out your returns. For example, you put £5 on to win at 50/1, which pays out £250 plus £5 on to place at 50/1, which pays out £62.50, your overall profit £312.50. You will also get your stake back which overall is £10, so your total returns would be £322.50.
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Common Betting Odds Myths and Misconceptions
Betting odds are the lifeblood of sports betting, offering bettors a means to gauge the probability of different outcomes and make informed decisions. However, misconceptions and myths surrounding betting odds are pervasive and can lead to costly mistakes. Below, we will debunk some of the most common myths and misconceptions about betting odds, helping you make smarter bets and maximize your returns.
Myth 1: Short Odds Always Indicate a Sure Bet
One of the most prevalent misconceptions in sports betting is that short odds (low payout) represent a sure bet, or that the outcome is almost guaranteed. While it’s true that short odds generally imply a higher probability of success, no outcome is ever a certainty in sports. Upsets and surprises are part of what makes sports exciting, and even the most heavily favoured teams or athletes can lose.
It’s essential to look beyond the odds and evaluate other factors, such as form, injuries, and head-to-head records, before placing a bet. Blindly backing short odds can lead to losses in the long run, as even small surprises can erase your profits.
Myth 2: Long Odds Are Never Worth Pursuing
Conversely, many bettors avoid placing bets on long odds (high payout), believing they offer little to no chance of success. While long odds do imply a lower probability of winning, they can still present value if you believe the odds are underestimating the true likelihood of a particular outcome.
Upsets are not uncommon in sports, and savvy bettors can find value in backing underdogs or betting on unlikely outcomes. The key is to balance risk and reward, recognizing when long odds present genuine value and when they are simply an accurate reflection of a low-probability outcome.
Myth 3: Odds Reflect the True Probability of an Outcome
Another widespread misconception is that odds directly represent the true probability of an outcome occurring. In reality, bookmakers set odds based on a combination of factors, including public opinion, betting patterns, and their own assessments of the event. Bookmakers also build a margin into their odds to ensure a profit regardless of the outcome.
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As a result, the odds you see may not accurately reflect the true probability of an event occurring. This creates opportunities for bettors who can identify discrepancies between the odds and their own assessments of an event.
Myth 4: Bookmakers Always Know Best
Some bettors believe bookmakers possess secret knowledge that allows them to predict outcomes with absolute certainty. While bookmakers employ experts and use sophisticated models to set their odds, they are not infallible.
Bookmakers can be influenced by public sentiment and biases or even make mistakes when setting their odds. This means that there are opportunities for bettors who can identify value in the odds and exploit these discrepancies.
In conclusion, understanding and debunking common myths and misconceptions about betting odds is crucial for successful sports betting. By recognizing that short odds do not always represent a sure bet and that long odds can offer value, bettors can make more informed decisions and maximize their returns. Furthermore, understanding that odds may not always reflect the true probability of an outcome and recognizing that bookmakers are not infallible can help bettors identify value and exploit discrepancies in the odds to their advantage.