Calculating the potential winnings for odds like 7/2 can feel a bit more complex compared to more straightforward odds like 10/1, 33/1, or 66/1, especially if you’re not as familiar with these kinds of betting odds.
Figuring out your winnings at 7/2 odds is still a pretty straightforward process once you get the hang of it.
What does 7/2 odds mean?
Odds of 7/2 mean that for every 2 units you bet, you would win 7 units if your bet is successful. It’s a way of representing the likelihood and potential return of a bet. In this case, the odds suggest that the outcome is somewhat likely to happen but not a strong favorite.
To understand the total return, you would get your original stake back plus the winnings. For instance, if you bet £2 at 7/2 odds and win, you’d get £7 in winnings plus your original £2 stake, totaling £9.
What do 7/2 odds payout?
When you’re using a free bet in sports betting markets, it’s important to understand how the potential outcomes of your winning bets are calculated with 7/2 odds.
Remember, when you win using a free bet, the original stake is not returned.
Here’s how it works:
Win Bet: If the horse wins the race, this part of the bet pays out.
Place Bet: This part of the bet pays out if the horse finishes in one of the top places (as defined by the bookmaker).
The odds of “7/2” mean that for every 2 units you bet, you’ll win 7 units plus your original stake if the horse wins. Each-way terms are usually a fraction of the win odds for the place part of the bet.
What does 7/2 each way mean?
“7/2 each way” is a term used in betting, particularly in horse racing.
It’s a combination of two bets: one for the horse to win, and one for the horse to place (usually meaning the horse will finish in one of the top positions, like first, second, or third, depending on the race and the bookmaker’s rules).
Let’s assume you place a £10 each-way bet on a horse at 7/2. This means you’re actually betting £20 in total – £10 on the horse to win and £10 on it to place.
7/2 odds examples:
Scenario 1: The Horse Wins at odds of 7/2
Win Bet: Your £10 win bet at 7/2 pays out. This means you get £35 in winnings plus your £10 stake back.
Place Bet: The place bet also wins. The odds for the place part are usually 1/4 or 1/5 of the win odds, but let’s assume they are 1/4 for this example. This means you get £17.50 in winnings (£10 at 7/2 divided by 4) plus your £10 stake back.
Total Return: £35 (win) + £10 (stake) + £17.50 (place) + £10 (stake) = £72.50.
Scenario 2: The Horse Places at 7/2 each way but Doesn’t Win
Win Bet: This part of your bet loses, so you don’t get anything back from the £10 you bet on the win.
Place Bet: This part of your bet wins. As before, you get £17.50 in winnings plus your £10 stake back.
Total Return: £17.50 (place) + £10 (stake) = £27.50.
Scenario 3: The Horse Doesn’t Place at all
Both the win and place bets lose, and you don’t get any return. Your total loss is the £20 you originally bet.
Remember, the exact terms for the place bet (like whether it pays out for finishing in the top 2, 3, or 4) can vary depending on the race and the bookmaker, so always check these before placing your bet.
7/2 win bet returns
So, for a £1 free bet at 7/2 odds, the total return on a winning bet would be £3.50. With a £5 free bet at these odds, your winning return would be £17.50.
Similarly, a £10 free bet would yield a total of £35 in winnings. For a £20 free bet at 7/2 odds, you’d receive £70.00 in total winnings.
And for a larger bet, say £100 at 7/2 odds, the total return for a win would be £350.00.
