Odds of 7 to 4 indicate the probability or chance of a specific outcome occurring. These odds are frequently seen in UK football and horse racing betting, offering slightly better chances than 15-8 odds in the betting market.
In this guide on 7-4 betting odds for online sportsbooks, we delve into the meaning of 7 to 4 odds, explore the probability associated with these odds, and illustrate the potential payouts for a bet placed at 7 to 4 odds.
Odds of 7/4 are a way to represent the likelihood of an event happening, often used in betting contexts. Here’s what it means:
Winning Amount: If you bet £4, you will win £7 if your bet is successful. This is in addition to getting your original £4 back.
So, if you bet £4 and win, you get £7 (profit) + £4 (your original bet) = £11 in total.
Probability: The odds also imply a certain probability of the event occurring. Odds of 7/4 suggest that the event is less likely to happen than not.
The calculation to convert odds to probability is: Probability = 4 / (7 + 4) = 4 / 11, which is approximately 36.36%.
So, in a betting context, a bet at 7/4 odds is seen as having a moderate chance of winning, with a decent payout if it does.
What do 7/4 odds payout?
Sure, let’s break down the payouts for 7/4 odds with various example bet amounts:
1. If you bet £1 at 7/4:
- Win: £1 (bet) * (7/4) = $1.75 (profit). Total received = £1 (original bet) + £1.75 (profit) = £2.75.
- Lose: You lose the £1 you bet.
2. If you bet £10 at 7/4:
- Win: $10 (bet) * (7/4) = $17.50 (profit). Total received = $10 (original bet) + £17.50 (profit) = £27.50.
- Lose: You lose the $10 you bet.
3. If you bet £50 at 7/4:
- Win: £50 (bet) * (7/4) = £87.50 (profit). Total received = £50 (original bet) + £87.50 (profit) = £137.50.
- Lose: You lose the £50 you bet.
4. If you bet £100 at 7/4:
- Win: £100 (bet) * (7/4) = £175 (profit). Total received = £100 (original bet) + £175 (profit) = £275.
- Lose: You lose the $100 you bet.
In each case, the profit is calculated by multiplying the bet amount by 7/4. The total payout includes both the profit and the original bet amount.
If the bet loses, the entire bet amount is forfeited.
What does 7/4 each way mean?
“7/4 each way” in betting refers to a type of bet that is essentially split into two parts: a ‘win’ bet and a ‘place’ bet, at the same odds of 7/4. This is common in horse racing and other sports where there are multiple competitors.
Win Part: The first part of the bet is on the selection to win the event. If your selection wins, this part of the bet pays out at the full odds (7/4 in this case). So, for a $10 bet, the win part would pay £17.50 in profit (plus the original $10 stake back).
Place Part: The second part of the bet is on the selection to ‘place’. What counts as a ‘place’ depends on the specific rules of the event but usually includes finishing in one of the top positions (e.g., first, second, or third).
The place part of the bet pays out at a fraction of the win odds. The exact fraction depends on the bookmaker’s rules and the type of event. It could be 1/2, 1/3, 1/4, etc., of the 7/4 odds
For example, if the place terms are 1/4 of the odds and your selection places but doesn’t win, on a £10 bet, the place part would pay out at 7/16 (which is 1/4 of 7/4).
The profit here would be £10 * 7/16 = £4.375, plus the original £10 stake.
Each way bets require a double stake—one for the win part and one for the place part.
So, a £10 each way bet would actually cost £20.
If your selection wins, you get paid for both the win and the place parts. If it only places, you only get the place part. If it doesn’t place, you lose both parts of the bet.
