7 to 1

What does 7/1 odds mean?

7/1 odds mean that for every £1 you bet, you win £7 if your selection is successful. This type of odds is used in betting and reflects a moderate to low probability of the event occurring.

The higher the first number in such fractional odds, the lower the chance of the event happening as perceived by the bookmaker.

With 7/1 odds, your total return on a winning bet would be £8 – which includes your £1 stake and £7 in winnings.

What do 7/1 odds payout?

7/1 odds offer a significant payout, reflecting a moderate probability of the event happening. Here’s how the payout works for different bet amounts at 7/1 odds:

1. Bet £1: Profit = 7 * £1 = £7. Total return (profit + stake) = £7 + £1 = £8.
2. Bet £5: Profit = 7 * £5 = £35. Total return = £35 + £5 = £40.
3. Bet £10: Profit = 7 * £10 = £70. Total return = £70 + £10 = £80.
4. Bet £25: Profit = 7 * £25 = £175. Total return = £175 + £25 = £200.
5. Bet £50: Profit = 7 * £50 = £350. Total return = £350 + £50 = £400.
6. Bet £100: Profit = 7 * £100 = £700. Total return = £700 + £100 = £800.

These examples illustrate the profit and total returns for each bet, which include both the winnings and the original stake. The larger the stake, the higher the potential return at 7/1 odds.

What does 7/1 each way mean?

7/1 each way betting involves two separate bets of equal stake: one bet for the selection to win at the full odds (7/1) and another for the selection to place at a fraction of those odds.

The place bet typically pays out if the selection finishes in one of the top positions, often the top three. The exact fraction of the win odds paid for a place bet varies (commonly 1/4 or 1/5), depending on the bookmaker and the type of event.

Examples with 7/1 Place Terms at 1/4 the Win Odds

1. Bet £1 (£0.50 each for win and place):
   • Place Bet: If only the place bet wins, profit = (1/4 * 7/1) * £0.50 = £0.875. Total return = £0.875 (profit) + £0.50 (stake) = £1.375.
   • Win Bet: If the win bet also wins, total return = £1.375 (place return) + £3.50 (win profit) + £0.50 (stake) = £5.375.
2. Bet £5 (£2.50 each for win and place):
   • Place Bet: Profit = (1/4 * 7) * £2.50 = £4.375. Total return = £4.375 + £2.50 = £6.875.
   • Win Bet: If win, total return = £6.875 (place return) + £17.50 (win profit) + £2.50 (stake) = £26.875.
3. Bet £10 (£5 each for win and place):
   • Place Bet: Profit = (1/4 * 7) * £5 = £8.75. Total return = £8.75 + £5 = £13.75.
   • Win Bet: If win, total return = £13.75 (place return) + £35 (win profit) + £5 (stake) = £53.75.
4. Bet £25 (£12.50 each for win and place):
   • Place Bet: Profit = (1/4 * 7) * £12.50 = £21.875. Total return = £21.875 + £12.50 = £34.375.
   • Win Bet: If win, total return = £34.375 (place return) + £87.50 (win profit) + £12.50 (stake) = £134.375.
5. Bet £50 (£25 each for win and place):
   • Place Bet: Profit = (1/4 * 7) * £25 = £43.75. Total return = £43.75 + £25 = £68.75.
   • Win Bet: If win, total return = £68.75 (place return) + £175 (win profit) + £25 (stake) = £268.75.
6. Bet £100 (£50 each for win and place):
   • Place Bet: Profit = (1/4 * 7) * £50 = £87.50. Total return = £87.50 + £50 = £137.50.
   • Win Bet: If win, total return = £137.50 (place return) + £350 (win profit) + £50 (stake) = £537.50.

What is 7/1 odds as a decimal?

7/1 odds in decimal format are 8.00. This means that for every £1 you bet, the total return (including your stake) would be £8 if your bet is successful.