What does 66/1 odds mean?
66/1 odds mean that for every £1 you bet, you win £66 if your selection is successful. These are considered long odds, indicating that the event is seen as quite unlikely to happen.
When you encounter such high odds, it implies that the bet is more of a long shot; however, the potential payout is correspondingly higher in the event of a win.
In practical terms, if you place a bet at 66/1 odds and win, you’ll receive £66 in winnings for every £1 staked, plus your original stake back.
What does 66/1 odds payout?
66/1 odds offer a high payout due to the lower probability of the event occurring. Here’s how the payout works:
For every £1 you bet, you win £66 if successful.
Given this, here are the payouts for different bet amounts:
Bet £1: Profit = 66 * £1 = £66. Total return (profit + stake) = £66 + £1 = £67.
Bet £5: Profit = 66 * £5 = £330. Total return = £330 + £5 = £335.
Bet £10: Profit = 66 * £10 = £660. Total return = £660 + £10 = £670.
Bet £25: Profit = 66 * £25 = £1650. Total return = £1650 + £25 = £1675.
Bet £50: Profit = 66 * £50 = £3300. Total return = £3300 + £50 = £3350.
Bet £100: Profit = 66 * £100 = £6600. Total return = £6600 + £100 = £6700.
These examples illustrate the total return for each bet, including both the original stake and the winnings at 66/1 odds.
What does 66/1 each way mean?
66/1 each way betting involves two components: a ‘win’ bet and a ‘place’ bet. For each way betting, your stake is effectively doubled, with half going on the selection to win at the full odds (66/1 in this case), and the other half on the selection to place at a fraction of those odds.
The place bet is successful if the selection finishes in one of the top positions (usually the top three, but this can vary). The odds for the place part of the bet are typically a fraction (often 1/4 or 1/5) of the win odds.
Examples with Place Terms at 1/4 the Win Odds
- Bet £1 (£0.50 each for win and place):
- Place Bet: Profit = (1/4 * 66/1) * £0.50 = £8.25. Total return = £8.25 profit + £0.50 stake = £8.75.
- Win Bet: If the win bet also succeeds, add £33 (win part) + £0.50 stake = £33.50, for a total return of £42.25.
- Bet £5 (£2.50 each for win and place):
- Place Bet: Profit = (1/4 * 66) * £2.50 = £41.25. Total return = £41.25 + £2.50 = £43.75.
- Win Bet: If win, add £165 + £2.50 = £167.50, for a total return of £211.25.
- Bet £10 (£5 each for win and place):
- Place Bet: Profit = (1/4 * 66) * £5 = £82.50. Total return = £82.50 + £5 = £87.50.
- Win Bet: If win, add £330 + £5 = £335, for a total return of £422.50.
- Bet £25 (£12.50 each for win and place):
- Place Bet: Profit = (1/4 * 66) * £12.50 = £206.25. Total return = £206.25 + £12.50 = £218.75.
- Win Bet: If win, add £825 + £12.50 = £837.50, for a total return of £1056.25.
- Bet £50 (£25 each for win and place):
- Place Bet: Profit = (1/4 * 66) * £25 = £412.50. Total return = £412.50 + £25 = £437.50.
- Win Bet: If win, add £1650 + £25 = £1675, for a total return of £2112.50.
- Bet £100 (£50 each for win and place):
- Place Bet: Profit = (1/4 * 66) * £50 = £825. Total return = £825 + £50 = £875.
- Win Bet: If win, add £3300 + £50 = £3350, for a total return of £4225.
In these examples, the total return includes both the winnings and the stake. If the selection only places but doesn’t win, you only get the return from the place part of your bet. If the selection doesn’t place, you lose both parts of the bet.
What is 66/1 odds as a decimal?
66/1 odds in decimal format are 67.00. This means that for every £1 you bet, the total return (including your stake) would be £67 if your bet is successful.
