Odds of 8 to 11 indicate the likelihood or chance of a particular outcome occurring. These odds are commonly seen in UK football and horse racing betting, offering slightly better chances than 4-5 odds in the betting market.
Winning Amount: For every £11 you bet, you will win £8 if your bet is successful. This is in addition to getting your original £11 back. So, if you bet £11 and win, you get £8 (profit) + £11 (your original bet) = £19 in total.
Probability: These odds also imply a probability of the event occurring. Odds of 8/11 suggest that the event is more likely to happen than not. The probability calculation is: Probability = 11 / (8 + 11) = 11 / 19, which is approximately 57.89%.
In betting terms, a bet at 8/11 odds is viewed as having a relatively high chance of winning, with a modest return on the amount staked.
What do 8/11 odds payout?
1. If you bet £1:
- Win: £1 (bet) * (8/11) = approximately £0.73 (profit). Total received = £1 + £0.73 = £1.73.
- Lose: You lose the £1 you bet.
2. If you bet £5:
- Win: £5 (bet) * (8/11) = approximately £3.64 (profit). Total received = £5 + £3.64 = £8.64.
- Lose: You lose the £5 you bet.
3. If you bet £10:
- Win: £10 (bet) * (8/11) = approximately £7.27 (profit). Total received = £10 + £7.27 = £17.27.
- Lose: You lose the £10 you bet.
4. If you bet £25:
- Win: £25 (bet) * (8/11) = approximately £18.18 (profit). Total received = £25 + £18.18 = £43.18.
- Lose: You lose the £25 you bet.
5. If you bet £50:
- Win: £50 (bet) * (8/11) = approximately £36.36 (profit). Total received = £50 + £36.36 = £86.36.
- Lose: You lose the £50 you bet.
6. If you bet £100:
- Win: £100 (bet) * (8/11) = approximately £72.73 (profit). Total received = £100 + £72.73 = £172.73.
- Lose: You lose the £100 you bet.
In each case, the profit is calculated by multiplying the bet amount by 8/11. The total payout includes the profit and the original bet amount. If the bet loses, the entire bet amount is forfeited.
What does 8/11 each way mean?
8/11 each way” in betting, particularly common in horse racing and other competitive sports, splits your bet into two separate parts: a ‘win’ bet and a ‘place’ bet, both at the same 8/11 odds. Let’s break this down using British pounds (£):
Win Part: This is a bet on your selection to win the event. If your selection wins, this part pays out at the full 8/11 odds. For example, if you bet £11 each way (totaling £22 for both parts), and your selection wins, the win part would pay £8 in profit (plus your £11 stake back), totaling £19.
Place Part: This is a bet on your selection to finish in one of the top positions (typically first, second, or third, depending on the event). The payout for the place part is usually at a fraction of the win odds, like 1/4 or 1/5.
If the place terms are 1/4 of the odds, and your selection places but doesn’t win, the payout would be based on odds of 8/44 (1/4 of 8/11).For an £11 each way bet, the place part would pay £2 in profit (plus your £11 stake back), totaling £13, if your selection places but doesn’t win.
Each way bets require twice the stake—one for the win and one for the place—so an £11 each way bet actually costs £22. If your selection wins, you get paid for both parts.
If it only places, you get the return from the place part. If it doesn’t place, you lose both parts of the bet.
