Knowing how to understand and calculate odds is something that anyone who is placing bets should take the time to learn.
The probability of getting heads is a one in two chance, which can be represented as odds of 1/1, which would mean the outcome has a 50% chance of winning.
For example, if you place a £1 bet on West Ham to beat Tottenham at 4/1, it will pay out £5 if successful (£4 profit plus your £1 stake).
Let's return to the coin toss example, in which the odds for heads and tails are both even money or 1/1 (fractional) or 2.
0 (decimal), meaning that a £1 stake will return £2 (£1 profit plus the £1 stake).
The -145 means you will win £100 for every £145 you stake.
90 profit (calculated as £10/£145 x 100).
See below for more examples of how to read betting odds.
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