What do 1/3 Odds Mean?
Odds are used in betting to represent the probability of an event to occur. When you see 1/3 odds, it means that the event is likely to happen. In other words, for every 3 attempts, the event is expected to occur once.
To understand this better, let’s take some examples with different amounts. If you bet £1 at 1/3 odds, you will win £1/3, plus your original stake, totalling £1.33.
A £5 bet will yield £5/3 (£1.67) in profit, making a total payout of £6.67. A £10 bet would win £10/3 (£3.33), totalling £13.33. A £25 bet would win £25/3 (£8.33), totalling £33.33. A £50 bet would win £50/3 (£16.67), totalling £66.67.
Lastly, a £100 bet would win £100/3 (£33.33), totalling £133.33.
What do 1/3 Odds Payout?
The payout for 1/3 odds means you win one third of your stake plus your original stake back. For instance, if you bet £10, your payout will be £3.33 plus your original £10, totalling £13.33.
What does 1/3 Odds Each Way Mean? Definition and Examples
An each way bet is essentially two bets in one – a bet for a win, and a bet for a place (usually second or third). If you place a £1 each way bet at 1/3 odds, you are actually placing £1 on the win and £1 on the place, totalling £2.
If your selection wins, you get both parts of the bet. If your selection only places, you lose the win part of the bet but get 1/3 of the place part of the bet.
For example, a £5 each way bet at 1/3 odds would total £10 (£5 for win, £5 for place)
. If the selection wins, you would get £1.67 for the win and £1.67 for the place, totalling £3.33 plus your original £10, making a total of £13.33.
The same calculations apply for £10, £25, £50, and £100 each way bets.
What is 1/3 Odds as a Decimal?
Odds can also be represented as decimals. 1/3 odds as a decimal is 1.33. This is calculated by adding 1 to the fraction (1/3 + 1 = 1.33). This is also the amount you would win for every £1 you bet, plus your original stake.
| Odds Format | Meaning | Example with £10 Bet |
|---|---|---|
| 1/3 Fractional Odds | You win 1/3 of your stake | Win £3.33, Total Return £13.33 |
| 1/3 Odds Payout | You win 1/3 of your stake plus your original stake | Win £3.33, Total Return £13.33 |
| 1/3 Odds Each Way | You place two bets, one for a win and one for a place | Win £1.67, Place £1.67, Total Return £13.33 if wins, £3.33 if places |
| 1/3 Odds as Decimal | Equivalent value of 1/3 odds in decimal format | 1.33 |
