If you are unfamiliar with sports betting, the odds can be confusing, especially when they are not particularly straightforward. Odds like 7/4, 8/11 or 2/9 are not easy to work out in your head. Is there even any value in them? The good news is that a simple maths formula can tell you how much you could win if you place a wager at these odds.
It doesn’t matter which currency you use – the principle is the exact same. For the purposes of this explanation, I am going to use £ Sterling.
QUICK GUIDE TO 7/4 WIN BET RETURNS
£1 @ 7/4 = £1.75
£2 @ 7/4 = £3.50
£5 @ 7/4 = £8.75
£10 @ 7/4 = £17.50
£25 @ 7/4 = £43.75
£50 @ 7/4 = £87.50
£100 @ 7/4 = £175.00
The amounts above do not include returned stakes.
I’ll start by saying that the odds of 7/4 are very short. You can still make money if your bet wins, but it won’t be a huge amount (depending on the size of your wager). The Netherlands were 7/4 to win Eurovision 2019 – and they did!
The first number (7) is the amount you’ll win from wagering the second number (4). So for every £4 that you bet, you will get back £7 if your bet wins. It’s just slightly less than 2/1. You might not win a fortune, 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 7/4 will payout £1.75 (plus your £1 stake is returned). If you increase the stake to £10 you’ll get £11.75 back (plus £10 stake). The maths formula for a win-only bet is:
(amount staked x 7) / 4 = win returns + stake back = total amount of returns.
For example: (£5 x 7) = £35 divided by 4 = £8.75 win + £5 stake back = £13.75 returned in total.
7/4 is a can give decent winnings on a bet with such low odds. You may not be able to retire on it, but a win is a win.
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Low odds like this are very popular with bookmakers. In fact, no matter the sport you choose to bet on, you’re going to come across them, particularly when there is a favourite. Think of a high-stakes horse race, a football game between two evenly matched teams or a boxing match with two high profile fighters. The odds tend to be low mostly so the bookmaker can make a profit.
There is an option to bet each-way on most markets. However, it is generally advised not to do this unless the odds are over 6/1. Mathematically you can’t actually make any money if your bet does not win but instead finishes second or third.
While in theory, this is good advice, I have a slightly different take. If you’re going to make the bet anyway, it is better to come away with some of your money back rather than none of it. Let’s look at a £1 each-way bet (£2 spent in total).
If your bet wins, you’ll get your £1.75 (Win bet) + £1 (Stake) + £.44p (Place bet at 1/4 odds) + £1 (Stake), so you will end up with £4.19 in your pocket.
If they DO NOT win, you will only get back 44p (Place bet at 1/4 odds) + £1 (Place Stake) = £1.44. This is less than the £2 bet you placed!
The thing is, if you were going to put £2 on the win, you would have lost the £2. Splitting it, £1 each-way, means you are only down 56p. Not great, but you didn’t lose it all. Of course, if your bet doesn’t win or place, you will get nothing back.
So there you have it, 7/4 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.
7/4 WIN BETS
£1 @ 7/4 = £1.75
£2 @ 7/4 = £3.50
£5 @ 7/4 = £8.75
£10 @ 7/4 = £17.50
£25 @ 7/4 = £43.75
£50 @ 7/4 = £87.50
£100 @ 7/4 = £175.00
7/4 EACH WAY BETS (2nd, 3rd or 4th Place)
£1 @ 7/4 = 44p
£2 @ 7/4 = 88p
£5 @ 7/4 = £2.19
£10 @ 7/4 = £4.38
£25 @ 7/4 = £10.94
£50 @ 7/4 = £21.88
£100 @ 7/4 = £43.75
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 £5 win at 7/4 pays £8.75 + £5 place at 7/4 pays out £2.19, giving you a total of £10.94 plus your £10 stake is returned.
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Betting Market Liquidity: A Deep Dive into How Competition Improves Your Odds
So, what is betting market liquidity? In a nutshell, liquidity refers to the volume of bets available in a particular market. A market with high liquidity has a large number of bets, whereas a market with low liquidity has a limited number of bets. Liquidity is crucial because it affects the odds offered by bookmakers, as well as the ease with which bettors can place bets and cash out their winnings.
Now, let’s explore how liquidity impacts odds. In a highly liquid betting market, there are numerous bookmakers competing for your hard-earned cash. This competition drives bookies to offer more attractive odds, as they must entice bettors to choose their platform over others. It’s simple supply and demand: the more bookmakers there are, the more competitive the odds become.
Conversely, in a less liquid market, bettors have fewer options. This lack of competition can lead to less favourable odds, as bookmakers have less incentive to offer enticing prices. In other words, when there’s less competition, bookies can get away with offering less attractive odds.
The Connection Between Liquidity and Odds
Let’s take a look at an example to illustrate this concept. Imagine you’re interested in betting on a Premier League soccer match – a market with high liquidity. With countless bookmakers offering odds on these matches, you’ll likely find competitive prices as each bookie tries to outdo the others to attract your business.
Compare this to a niche market, such as a lower-league match or an obscure sport, and you’ll likely notice less appealing odds, like 7/4 due to the reduced level of competition among bookmakers.
So, what does this mean for you as a bettor? To maximize your potential returns, it’s essential to consider liquidity when choosing a betting market. While it’s undoubtedly exciting to explore niche markets and bet on obscure sports, be aware that these markets may offer less favourable odds due to their lower liquidity.
By focusing on more popular markets with higher liquidity, you’ll benefit from the competitive nature of the industry and potentially secure better odds.
The Importance of Shopping Around for the Best Odds
One last piece of advice: don’t forget to shop around for the best odds! Regardless of market liquidity, it’s always a good idea to compare odds from various bookmakers to ensure you’re getting the best possible value for your bets. There are plenty of odds comparison tools available online that can help you in your quest for the most attractive odds.
In conclusion, understanding betting market liquidity and its impact on odds can give you an edge when placing your bets. By focusing on more liquid markets, you can benefit from the competitive nature of the industry and potentially find better odds. So, the next time you’re scouring the betting landscape for your next wager, keep liquidity in mind and let the power of competition work in your favour. Happy betting, folks!
