Beleive it or not but odds of 8/13 are actually more popular than you would think. Especially in football, on or near the day of a big game. And no, they’re not good odds and you can hardly make a penny from them!
So recently I wrote about the upcoming Real Madrid v Sevilla game and Betway was offering odds of 8/13 on Real to win the game. Of course, that made me think about the huge lack of value in the football betting markets, but that’s a rant for another day. But it also made me wonder how many other sports and games have odds of 8/13 and how to work them out.
Yes, they are short odds but a win is a win and you can still make a profit, just not that much. As a rough guide, for every £1 you place on a winning bet with odds of 8/13, you will make a profit of 62p. You will also get your stake back.
For reasons that I can’t explain, you see 8/13 more frequently on European football markets. Matches in La Liga, Seria A and France’s Ligue 1 tend to be peppered with them. Not so much the Premier League although on game day, as the betting intensifies, the margins do shrink and then you might see more of them.
The only real advantage to odds this low is that they indicate a favourite. However, you need to look at all the odds on offer and weigh up your options. In almost every single case, when one team has odds of 8/13, their opponents will be on 7/2. In the real world, this means they have a 61% chance of winning.
So now you a little bit more, let’s get to the maths! This is actually a very simple formula.
The first number (8) is the amount you’ll win from wagering the second number (13). So for every £10 that you bet, you will get back £6.15 if your bet wins. You basically get back a lot less than you bet, plus your stake back.
For instance, a £30 winning bet at 8/13 will payout £18.46 (plus your £30 stake is returned). If you increase the stake to £50 you’ll get £30.77 back (plus £50 stake). The maths formula for a win only bet is:
(amount staked x 8) / 13 = win returns + stake back = total amount of returns.
For example: (£40 x 8) = £320 divided by 13 = £24.61 win + £40 stake back = £64.61 returned in total.
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. The reason is that you can’t win any money if your bet loses the win but takes a place instead.
Most bookmakers payout 1/4 on each-way places, basically a quarter of the odds. However, there has been a move to reduce this and only offer 1/5 of the odds. And when you are already betting on such short numbers, it is almost impossible to get any money back on an each-way bet. For example, if you placed £10 each-way (£20 in total) on odds of 8/13 you would get back £11.23 in TOTAL if you won the place part of the bet.
You would lose the win part of your stake, leaving you with the each-way winnings of just 1.23p plus that part of the stake back. That is a loss of £8.77 on your original total stake. It really isn’t worth it.
So there you have it, 8/13 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.
8/13 WIN BET RETURNS
£1 = 61p
£2 = £1.23p
£5 = £3.08
£10 = £6.15
£25 = £15.38
£50 = £30.77
£100 = £61.52
The amounts quoted above are based on Win bets only. The returns do not include the original amount staked. If you place an each-way bet and it wins, you get back the win and the place winnings, plus your original stake.
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