Odds of 8 to 15 indicate the probability or chance of a specific outcome occurring. These 8-15 odds are commonly seen in UK football and horse racing betting, providing slightly better chances than 4-7 odds in the betting market.
In this guide focusing on 8-15 sports betting odds, we’ll clarify what 8 to 15 odds mean, examine the associated probability, and demonstrate the potential payouts for bets placed at 8 to 15 odds.
What do 8/15 odds mean?
8/15 odds mean that for every £15 you bet, you win £8 if your bet is successful. You also get your original £15 back. These odds suggest that the event is more likely to happen than not.
Payout Examples for 8/15 Odds
The profit is calculated by multiplying the bet amount by 8/15.
- £1 bet: Profit = £1 * (8/15) ≈ £0.53. Total return = £1 + £0.53 = £1.53.
- £5 bet: Profit = £5 * (8/15) ≈ £2.67. Total return = £5 + £2.67 = £7.67.
- £10 bet: Profit = £10 * (8/15) ≈ £5.33. Total return = £10 + £5.33 = £15.33.
- £25 bet: Profit = £25 * (8/15) ≈ £13.33. Total return = £25 + £13.33 = £38.33.
- £50 bet: Profit = £50 * (8/15) ≈ £26.67. Total return = £50 + £26.67 = £76.67.
- £100 bet: Profit = £100 * (8/15) ≈ £53.33. Total return = £100 + £53.33 = £153.33.
What does 8/15 each mean?
An each way bet at 8/15 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 for every 15 units bet 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 8/60 (8/15 divided by 4).
Examples of Each Way Betting at 8/15
- £1 each way (£2 total stake):
- Win part: Profit = £0.53. Total return = £1.53.
- Place part (8/60): Profit ≈ £0.13. Total return ≈ £1.13.
- £5 each way (£10 total stake):
- Win part: Profit = £2.67. Total return = £7.67.
- Place part (8/60): Profit ≈ £0.67. Total return ≈ £5.67.
- £10 each way (£20 total stake):
- Win part: Profit = £5.33. Total return = £15.33.
- Place part (8/60): Profit ≈ £1.33. Total return ≈ £11.33.
- £25 each way (£50 total stake):
- Win part: Profit = £13.33. Total return = £38.33.
- Place part (8/60): Profit ≈ £3.33. Total return ≈ £28.33.
- £50 each way (£100 total stake):
- Win part: Profit = £26.67. Total return = £76.67.
- Place part (8/60): Profit ≈ £6.67. Total return ≈ £56.67.
- £100 each way (£200 total stake):
- Win part: Profit = £53.33. Total return = £153.33.
- Place part (8/60): Profit ≈ £13.33. Total return ≈ £113.33.
In each way betting, if your selection only places and does not win, you only receive the return from the place part. If it doesn’t place, you lose both parts of the bet.
What is 8/13 odds in decimal?
To convert fractional odds of 8/15 to decimal odds, you add 1 to the fraction and then simplify. This represents the total return you get per unit bet, including your stake.
Conversion to Decimal Odds
Decimal odds = (8 / 15) + 1 = 0.53 + 1 = 1.53
Example with a £10 Bet
- Odds: 1.53 (in decimal)
- Bet Amount: £10
To calculate the total return:
- Total Return: Bet Amount x Decimal Odds = £10 x 1.53 = £15.30
So, if you bet £10 at 8/15 odds (which is 1.53 in decimal odds), and you win, your total return would be £15.30. This includes your £10 stake and £5.30 profit.
