Odds of 8 to 1 represent the probability or likelihood of a particular outcome occurring. These 8-1 odds are frequently seen in UK football and horse racing betting, offering slightly better chances than 9-1 odds in the betting market.
In our guide focusing on 8-1 horse racing betting odds, we will clarify the meaning of 8 to 1 odds, explore the probability associated with these odds, and demonstrate the potential payouts for bets placed at 8 to 1 odds.
What do 8/1 odds mean?
8/1 odds mean that for every £1 you bet, you win £8 if your bet is successful, plus you get your original £1 stake back. These odds suggest the event is relatively unlikely to happen.
Payout Examples for 8/1 Odds
The profit is calculated by multiplying the bet amount by 8.
- £1 bet: Profit = £8. Total return = £1 + £8 = £9.
- £5 bet: Profit = £40. Total return = £5 + £40 = £45.
- £10 bet: Profit = £80. Total return = £10 + £80 = £90.
- £25 bet: Profit = £200. Total return = £25 + £200 = £225.
- £50 bet: Profit = £400. Total return = £50 + £400 = £450.
- £100 bet: Profit = £800. Total return = £100 + £800 = £900.
What is 8/1 each way?
An each way bet at 8/1 consists of two parts: a ‘win’ bet and a ‘place’ bet.
Win Part
- As with a straight win bet, you get 8 times your stake if your selection wins.
Place Part
- This pays out if your selection places (usually top 2-4 positions). The place odds are typically a fraction of the win odds.
- For example, at 1/4 place terms, the place odds become 2/1 (8/4).
Examples of Each Way Betting at 8/1
- £1 each way (£2 total stake):
- Win part: Profit = £8. Total return = £9.
- Place part (2/1): Profit = £2. Total return = £3.
- £5 each way (£10 total stake):
- Win part: Profit = £40. Total return = £45.
- Place part (2/1): Profit = £10. Total return = £15.
- £10 each way (£20 total stake):
- Win part: Profit = £80. Total return = £90.
- Place part (2/1): Profit = £20. Total return = £30.
- £25 each way (£50 total stake):
- Win part: Profit = £200. Total return = £225.
- Place part (2/1): Profit = £50. Total return = £75.
- £50 each way (£100 total stake):
- Win part: Profit = £400. Total return = £450.
- Place part (2/1): Profit = £100. Total return = £150.
- £100 each way (£200 total stake):
- Win part: Profit = £800. Total return = £900.
- Place part (2/1): Profit = £200. Total return = £300.
8/1 Odds in Decimal Format
- Conversion: Decimal odds = (8 / 1) + 1 = 8 + 1 = 9.00
Example with a £10 Bet
Bet Amount: £10
Total Return: Bet Amount x Decimal Odds = £10 x 9.00 = £90
This includes your £10 stake and £80 profit.
