Discussion about math, puzzles, games and fun. Useful symbols: ÷ × ½ √ ∞ ≠ ≤ ≥ ≈ ⇒ ± ∈ Δ θ ∴ ∑ ∫ π -¹ ² ³ °

You are not logged in.

- Topics: Active | Unanswered

Pages: **1**

**phatus****Member**- Registered: 2007-10-15
- Posts: 11

what odds are more than 1/2?

For example is 2/3 more? What about 7/5?

Offline

**bobbym****Administrator**- From: Bumpkinland
- Registered: 2009-04-12
- Posts: 92,926

Hi;

You mean 1:2 or probability 1 / 3?

2/3 is not odds it could be a probability.

Please look here for a good explanation of the whole notation.

**In mathematics, you don't understand things. You just get used to them.**

**I agree with you regarding the satisfaction and importance of actually computing some numbers. I can't tell you how often I see time and money wasted because someone didn't bother to run the numbers.**

Offline

**phatus****Member**- Registered: 2007-10-15
- Posts: 11

Hello and thanks for the help

Let me rephrase the original question. So ignore what i said before. If a bookies says i can place a bet at 1/2 odds or more what do they mean by this? What is considered more than 1/2?

Offline

**bobbym****Administrator**- From: Bumpkinland
- Registered: 2009-04-12
- Posts: 92,926

Depending on how he phrases it, he is saying that you will bet 1 to win 2. I am assuming it is 2 to 1 against. Else you would be laying the bet and have to bet 2 to win 1.

1/2 is 1 to 1

Using the fraction notation is not correct. The correct way to state these type problems is to say:

When a bookmaker offers betting odds of 6 : 1 against some event occurring, it means that he is prepared to pay out a prize of six times the stake, and return the stake as well, to anyone who places a bet.

**In mathematics, you don't understand things. You just get used to them.**

**I agree with you regarding the satisfaction and importance of actually computing some numbers. I can't tell you how often I see time and money wasted because someone didn't bother to run the numbers.**

Offline

**phatus****Member**- Registered: 2007-10-15
- Posts: 11

Okay i thought they wrote it as 1/2 on the site but could be wrong. Either way it should be written as 1:2 then.

So if i bet £1 at 1:2 i would get a £1.50 return if the bet won. The original bet plus 50%. I don't understand what they mean by odds greater than 1:2.

Offline

**bobbym****Administrator**- From: Bumpkinland
- Registered: 2009-04-12
- Posts: 92,926

If he says it is 2 to 1 against when you bet 1 unit you get paid 2 units.

Think of it like this. If I were to play the current world champion at chess Vishy Anand, the book would post say 1000 to 1 against me. That means anyone betting 10 dollars on me would win 10000 dollars if I win.

Anyone betting on him would have to lay 10000 dollars to win 10 dollars when he wins.

**In mathematics, you don't understand things. You just get used to them.**

**I agree with you regarding the satisfaction and importance of actually computing some numbers. I can't tell you how often I see time and money wasted because someone didn't bother to run the numbers.**

Offline

**phatus****Member**- Registered: 2007-10-15
- Posts: 11

I think we're getting crossed wires here. I understand what you're saying but i think because of the way i've written the betting odds you don't understand what i'm saying. I'm not 100% sure how bookies write betting odds on their website so i could be writing it incorrectly. I thought it is written as 1/2 but could be wrong and maybe it's 1:2 or something like that.

As an example of betting odds if i bet on player 1 to beat player 2 and the odds were 1/10 and i place £10 on the bet and player 1 wins i would be given a return of £11 (original bet plus £1). So i wouldn't be getting a good return because player 1 is expected to win most of the time. So if the odds were 1/2 and i placed a £10 bet i'd get a return of £15 if player 1 won.

Basically i have won a free bet at a bookies and it says it has to be placed on odds of 1/2 or more. I don't understand what is more than 1/2. I assumed it means if my profit return is greater than 50% as it would be at 1/2.

Offline

**bobbym****Administrator**- From: Bumpkinland
- Registered: 2009-04-12
- Posts: 92,926

As an example of betting odds if i bet on player 1 to beat player 2 and the odds were 1/10 and i place £10 on the bet and player 1 wins i would be given a return of £11

That is saying player 2 is 10:1 against.

If player 2 is 2:1 against, that means 1 is a 2 to 1 favorite. I bet 10 dollars on 1, I expect to get 5+10 dollars back.

**In mathematics, you don't understand things. You just get used to them.**

Offline

**phatus****Member**- Registered: 2007-10-15
- Posts: 11

If player 2 is 2:1 against, that means 1 is a 2 to 1 favorite. I bet 10 dollars on 1, I expect to get 5+10 dollars back.

Yes that's what i said in my last post. See:

So if the odds were 1/2 and i placed a £10 bet i'd get a return of £15 if player 1 won.

That's not answering my question though.

Offline

**bobbym****Administrator**- From: Bumpkinland
- Registered: 2009-04-12
- Posts: 92,926

Yes but you are phrasing it in a very unorthodox fashion.

I would guess that he is requiring you to bet on something that is bigger than a 2 to 1 dog.

**In mathematics, you don't understand things. You just get used to them.**

Offline

**phatus****Member**- Registered: 2007-10-15
- Posts: 11

That's just the way they write it on betting sites. I can't access betting sites at the moment as i'm at work but here's a copy/paste from a google search:

*oddsconverter.co.uk/CachedGuide to UK, American and European odds formats and betting calculators. ... 1/2 , 1.50, -200, 13/8, 2.63, +162.50, 9/2, 5.50, +450. 8/15, 1.53, -187.50, 17/10 ...*

At oddsconverter it shows 1/2 as a decimal bet of 1.50. This means if i bet £10 i get £15 return. So the person i'm betting on would be considered a favourite to win.

Offline

**bobbym****Administrator**- From: Bumpkinland
- Registered: 2009-04-12
- Posts: 92,926

Hmmm, I have lived in Vegas for almost 100 years and that is not the way it is posted here.

Looking at that it looks like they want you to bet on a favorite. Something that is more than 2 to 1. This way they do not have to pay anything other than a small amount.

**In mathematics, you don't understand things. You just get used to them.**

Offline

**phatus****Member**- Registered: 2007-10-15
- Posts: 11

Ah okay i think that's the case because i asked the website by e-mail if 7/5 (this is what i wanted to bet on) would be more than 1/2 and they said it wouldn't. I was confused because i thought the 'more' was referring to the return. So 'more' than 50% profit return. I think you're right that they mean i have to bet on a favourite at 1/2 or 'more' which means an even greater favourite like 1/10 for example.

Thanks for the help. Sorry for the confusion.

Offline

phatus wrote:

what odds are more than 1/2?

For example is 2/3 more? What about 7/5?

1/2 means if you bet £1 and you win, you receive £1.50 (1/2 × £1 = £0.50 plus £1 stake).

1/2 is read as 2 to 1 on.

For 2/3, £3 wins £2 plus £3 = £5. If you had staked the £3 on the 1/2 above however you would have got £1.5 + £3 = £4.5. Therefore 2/3 is a longer odds than 1/2 (it pays out more if you win).

And 7/5 is definitely longer than 1/2 (its greater than 1/1 whereas 1/2 is less than 1/1).

bobbym wrote:

Using the fraction notation is not correct.

Why is it not correct? Most bookmakers here use fraction notation.

phatus wrote:

So if i bet £1 at 1:2 i would get a £1.50 return if the bet won. The original bet plus 50%. I don't understand what they mean by odds greater than 1:2.

Think of it this way. If you bet £*x* you will earn £1.5*x* if you win. Now stake the same amount (£*x*) on the odds youre looking at. If your earnings are more than £1.5*x*, then those odds are longer than 1/2. Otherwise they are shorter.

bobbym wrote:

Yes but you are phrasing it in a very unorthodox fashion.

No, hes phrasing it in a way I understand very well.

*Last edited by Nehushtan (2013-04-25 00:40:45)*

**165** books currently added on Goodreads

Offline

**phatus****Member**- Registered: 2007-10-15
- Posts: 11

And 7/5 is definitely greater than 1/2 (its greater than 1/1 whereas 1/2 is less than 1/1).

This is where my confusion is because the website (think it's Ladbrokes) said 7/5 isn't more than 1/2. That's why i was asking here because i assumed it would be. I think i'm going to have to send them another e-mail to get them to clarify this.

Offline

I think youre confusing the terms greater and less. A horse that has a low probability of winning would have **longer** odds giving you higher returns if you win, whereas the favourite (the one with the highest probability of winning) would have the **shortest** odds meaning your returns if you win are the smallest. In other words, greater chance of winning = lesser returns if you win, lesser chance of winning = greater returns if you win.

**165** books currently added on Goodreads

Offline

**phatus****Member**- Registered: 2007-10-15
- Posts: 11

Yes 7/5 has a lesser chance of winning but a greater return if it wins compared to 1/2.

So would you agree with the following statement: **7/5 is more than 1/2**

The betting website doesn't.

Offline

In what sense more than?

If an odds give you more returs when you win, we say the odds are **longer**; otherwise they are **shorter**. The longer the odds on a horse, the less probability it has of winning.

I think its better to avoid the terms greater/more than or less than to avoid confusion. Thus we say that the odds of 7/5 are *longer* than those of 1/2 (2/1 on).

*Last edited by Nehushtan (2013-04-25 01:27:29)*

**165** books currently added on Goodreads

Offline

**phatus****Member**- Registered: 2007-10-15
- Posts: 11

Nehushtan wrote:

In what sense more than?

If an odds give you more returs when you win, we say the odds are

longer; otherwise they areshorter. The longer the odds on a horse, the less probability it has of winning.Try not to use the terms greater/more than or less than. They are confusing.

The website says 'the bet must be placed on odds of 1/2 or more'. I think maybe they have just worded it badly. I assume they're saying the bet must be placed on odds of 1/2 or shorter as 7/5 would be longer and they say i can't use these odds for the bet.

I think what i need to do is find a 1/2 or shorter bet and confirm with the website this is acceptable. If it isn't then one of the people who have replied to me must be wrong.

Offline

Pages: **1**