Betting odds are a numerical representation of the probability of something happening. They are created by bookmakers who make a book of betting odds for each potential outcome of an event.  The simplest illustration to explain betting odds is the toss of a coin. There are only two possible outcomes: heads or tails and there is an even chance for both to land. Bookmaker’s betting odds are slightly less than even money because they have an in-built edge. The most common betting odds for two even chances are 10/11 and 10/11 which includes the bookmaker’s theoretical profit margin. Here is a list of the best betting odds sites:

Bet £10, Get £30
T&Cs: New UK members only | Min. dep.: £10 | Wagering: 1x | Min. odds: Evens (2.0) or bigger | Max. bonus: £30 | Valid: 60 days | Full T&Cs apply | 18+ | BeGambleAware.org
4.5 rating
4.5
T&Cs | 18+
New customers can claim £30 in the form of free bets after placing the first bet for £10 using the optional Betfred promo code. After Betfred login, the qualifying bet is at 2.0 (Evens) of bigger and on any sports market. However, any winnings from the free bet does not include the stake and the free bet amount expires after seven days. Be sure to read the full Terms and Conditions on the betting site.
50% up to £50
T&Cs: New UK members only | Min. dep.: £15 | Wagering: 8x (bonus + deposit) | Min. odds: 4/5 singles, 2/5 accas | Max. bonus: £50 | Valid: 60 days | Full T&Cs apply | 18+ | BeGambleAware.org
4.3 rating
4.3
T&Cs apply | 18+
The 10bet sign up offer allows new customers to claim up to £50 in the form of a 50% match deposit bonus. The minimum deposit is £15 and a deposit of £100 applies to claim the maximum bonus. However, there is a wagering requirement of eight times the deposit and bonus and the bonus expires after 30 days. Odds restrictions apply for the qualifying bets and bonus for this 10bet welcome offer. Be sure to read the full Terms and Conditions on the betting site.
£20 Backup Free Bet
T&Cs: New UK members only | Min. dep.: £10 | Min. bet: £20 acca of 3+ | Min. odds: 1/2 | Wagering: 1x | Max. bonus: £20 | Valid: 7 days | Full T&Cs apply | 18+ | BeGambleAware.org
4.3 rating
4.3
T&Cs | 18+
New Bwin UK customers activate the Bwin welcome offer with a minimum deposit of £10 and a qualifying bet of £20 on 3+ selection at odds of 2.0 (Evens) or bigger. The company credits the free bet for losing qualifying bets. However, any winnings from the Bwin welcome bonus free bet do not include the stake. Be sure to read the full Terms and Conditions on the betting site.
£10 MoneyBack Free Bet
New UK members only | Min. bet.: £10 at odds of 2.0+ | Horse racing excl. | Max. bonus: £10 if losing first bet | Valid: 7 days | Full T&Cs apply | 18+ | BeGambleAware.org
4.3 rating
4.3
T&Cs | 18+
Are you joining Sportingbet for the first time? Then your first bet is on the house! Deposit and wager at least £10 on odds of 1/1 or higher. Keep in mind that voided or cashed out bets do not count towards this promo. Should your team let you down, you get your money back as a £10 free bet. Note that horse racing betting is excluded and that only deposits via bank transfer, dinners, eWire, InstantBank, InstantBanking, Kalixa, Maestro, Mastercard, Qiwi, Visa and Wire are eligible for the promo. Be sure to read the full Terms and Conditions in the betting site.

How do betting odds work?

In any event, each outcome has betting odds. The fixed odds bookmaker tries to attract business on each outcome to make a profit regardless of the outcome. Each price has a percentage value and if the total of these percentages comes to more than 100, the bookmaker has created a winning book in theory. Odds fluctuate due to weight of money. However, if one set of odds shorten others will increase to maintain the percentage. This is basically how betting odds work.

How betting odds work?

Each way bets are in effect two bets: the win element and place element. It is popular on horse racing and the outright winner of a football league or Cup competition. These bets are settled in line with place terms. In horse racing, the place terms are one quarter or one fifth the odds for 2, 3 or 4 places. Each way football betting odds are generally one half the odds for 2 places or one fifth the odds for 3 places. Bookmakers sometimes offer extra places for a horse race or football competition to increase betting and promote the bookmaking brand.

8 months ago 0 285
Each way betting is a form of betting that involves two bets so double the stake unit. It is most common on horse betting and football but also possible in ...

How to understand betting odds?

The player, team or horse with the lowest odds is the favourite, the player, team or horse with the next lowest odds is the second favourite. Options that are expressed in big odds are known as underdogs or outsiders. Bettors look at the odds for each potential outcome and place bets accordingly. Odds of even money represent an even chance of an outcome, odds-on means a less than even chance for an outcome and odds-against means more than an even chance of an outcome.

How to work out betting odds?

Bookmakers take bets at betting odds for a stake unit. Returns from winning bets are calculated from the stake and the odds. The bookmaker tries to take more bets in stakes than the payout. If a favourite or well-backed outcome transpires, the bookmaker could payout more winnings than the total stakes. In this instance, it is a losing book because the bookmaker has lost money. The bookmaker is more likely to win when an outsider wins an event.

Top betting sites UK:
10bet
4.3 rating
With 10bet you get over 30 betting sports, an easy and pleasant layout, top live betting features.
T&Cs apply | 18+
The 10bet sign up offer allows new customers to claim up to £50 in the form of a 50% match deposit bonus. The minimum deposit is £15 and a deposit of £100 applies to claim the maximum bonus. However, there is a wagering requirement of eight times the deposit and bonus and the bonus expires after 30 days. Odds restrictions apply for the qualifying bets and bonus for this 10bet welcome offer. Be sure to read the full Terms and Conditions on the betting site.
Betfred
4.5 rating
Find the betting quality of the famous UK retail, right at home or on mobile!
T&Cs | 18+
New customers can claim £30 in the form of free bets after placing the first bet for £10 using the optional Betfred promo code. After Betfred login, the qualifying bet is at 2.0 (Evens) of bigger and on any sports market. However, any winnings from the free bet does not include the stake and the free bet amount expires after seven days. Be sure to read the full Terms and Conditions on the betting site.
Bwin
4.3 rating
Experience one of the best live betting platforms and top betting facilities at Bwin.
T&Cs | 18+
New Bwin UK customers activate the Bwin welcome offer with a minimum deposit of £10 and a qualifying bet of £20 on 3+ selection at odds of 2.0 (Evens) or bigger. The company credits the free bet for losing qualifying bets. However, any winnings from the Bwin welcome bonus free bet do not include the stake. Be sure to read the full Terms and Conditions on the betting site.
William Hill
5.0 rating
UK's oldest and favourite betting hub offers over 30 betting sports and great promotions.
T&Cs | 18+
New players offer.

You must sign up with the promo code P30.
You get a 2x £15 free bets after placing a £10 bet at ½ odds or higher.
This promo is not available to betting accounts funded via PayPal, Neosurf, Paysafe, Neteller, Skrill, ecoPayz, Kalibra or Postepay.
The free bets are valid for 30 days.
Be sure to always read the full bonus terms on the betting site.

How to calculate betting odds?

You can use a betting odds calculator to work out the returns from winning bets or do this manually.  Some odds are simple but others are more complex. However, the calculation is the same. In other words, you add the numerator to the denominator and divide the total by the denominator and multiply by the stake to find the return for a bet.

Here is a basic example at evens:

£10 at 1/1 = ((1 + 1) / 1) x £10 = £20.

But this is a more complex example at odds-against:

£10 at 13/8 = ((13 + 8) / 8 x £10 = £26.25.

And finally, a slightly more difficult calculation at odds-on:

£10 at 8/11 = ((8 + 11) / 11 x £10 = £17.20.

What do odds mean in betting?

Bookmakers provide the platform for customers to place bets on the outcome of sporting events. Each potential result has a probability and bookmakers express the probabilities in the form of betting odds or prices. The more likely that something will happen, the lower the odds. The less likely that something will happen, the greater the odds.

Latest sign up offers:
Betfred Welcome Bonus
-
Bonus Code
Bet £10, Get £30
T&Cs: New UK members only | Min. dep.: £10 | Wagering: 1x | Min. odds: Evens (2.0) or bigger | Max. bonus: £30 | Valid: 60 days | Full T&Cs apply | 18+ | BeGambleAware.org
More info
New customers can claim £30 in the form of free bets after placing the first bet for £10 using the optional Betfred promo code. After Betfred login, the qualifying bet is at 2.0 (Evens) of bigger and on any sports market. However, any winnings from the free bet does not include the stake and the free bet amount expires after seven days. Be sure to read the full Terms and Conditions on the betting site.
mr.play Welcome Bonus
-
Bonus Code
Bet £10, Get £10
T&Cs: New UK members only | Min. dep.: £10 | Wagering: 1x free bet | Odds: 2.0 for the qualifying deposit and 1.8 for the free bet | Max. bonus: £10 | Valid: 14 days | Full T&Cs apply | 18+ | BeGambleAware.org
More info
New UK customers can claim £10 in the form of a bet token. This is a 100% match bet bonus because the value of the bet token equates to the qualifying bet. However, this bet must be at minimum odds of 2.0 (1/1) and the free bet token expires after 14 days. The bet token is valid at odds of 1.8 (4/5) or bigger and any winnings do not include the free bet stake. Keep in mind that deposits via Skrill, Neteller and PayPal do no qualify for this promo. Be sure to read the full T&Cs on the betting site.
Mansionbet Welcome Bonus
-
Bonus Code
Bet £10, Get £20
T&Cs: New members only | Min. dep.: £10 | Wagering: 1x first free bet | Odds: Evens (2.0) or bigger | Max. bonus: £20 | Valid: 7 days | Full T&Cs apply | 18+ | BeGambleAware.org
More info
New online betting UK customers with MansionBet can claim £20 in the form of free bets after making an initial deposit of £10 or more. The qualifying bet UK is for £10 on sports at odds of Evens (2.0) and that activates four free bets of £5 in value. Be sure to always read the full T&Cs on the betting site.

Which betting site has the best odds?

Some bookmakers compete on welcome bonuses and promotions, the range of sports and markets or the value in the betting odds. There are only small variances in the odds which the recreational bettor may not notice. However, big-staking professionals monitor price differences and will place bets with the betting sites that offer the best value which includes these:

William Hill

William Hill is one of the most trusted and established UK betting brands. Customers can select from over 30 sports for betting odds. The odds value is slightly better than average, especially in some markets. New customers can claim a welcome bonus and the betting odds standout for a number of sports and leagues. Cash out and live betting enhance the gaming experience.

£30 in Free Bets
New UK members only | Min. bet: £10 | Wagering: 1x | Odds: ½ or bigger | Max. bonus: 2x £15 free bets | Valid: 30 days | Full T&Cs apply | 18+ | BeGambleAware.org
5.0/5
T&Cs | 18+
New players offer.

You must sign up with the promo code P30.
You get a 2x £15 free bets after placing a £10 bet at ½ odds or higher.
This promo is not available to betting accounts funded via PayPal, Neosurf, Paysafe, Neteller, Skrill, ecoPayz, Kalibra or Postepay.
The free bets are valid for 30 days.
Be sure to always read the full bonus terms on the betting site.

Betway

Betway is a popular betting brand for bettors in the UK and other parts of Europe. The site features a full range of betting odds in pre-match and in-play markets. Customers can also bet on the outright winner of major competitions across a number of sports. There is some value in the betting odds, especially in several select sports and markets.

£10 Free Bet
New UK members only | 1st deposit matched up to £10 | 1 x 1.75+ odds unlock free bet | Min Dep: £10 | PayPal/Debit Card Deposits Only | Full T&Cs apply | 18+ | BeGambleAware.org
5.0/5
T&Cs | 18+
New members only

1st deposit matched up to £10
1 x 1.75+ odds unlock free bet
Min Dep: £10
PayPal / Debit Card Deposits Only
18+

Betting odds formats

The worked examples are for fractional betting odd which is one of the four odds formats in which betting markets are expressed:

  • Fractional

Odds are expressed in fractions with a numerator and denominator. So, when the probability of something happening is two times it not happening the odds are 2/1.

  • Decimal

Odd is expressed in fractions to two decimal places and include the stake unit. So odds of 2/1 in fractions appear as 3.00 in decimals.

  • American

American odds are slightly different in that they are expressed in hundreds and do not include the stake. So odds of 2/1 in American format are 200.

  • Asian

Asian odds can be Malay, Hong Kong and Indonesian.

New on BookiePro:
LV Bet
4.5/5
Betfred
4.5/5
Betfred
T&Cs | 18+
New customers can claim £30 in the form of free bets after placing the first bet for £10 using the optional Betfred promo code. After Betfred login, the qualifying bet is at 2.0 (Evens) of bigger and on any sports market. However, any winnings from the free bet does not include the stake and the free bet amount expires after seven days. Be sure to read the full Terms and Conditions on the betting site.
10bet
4.3/5
10bet
T&Cs apply | 18+
The 10bet sign up offer allows new customers to claim up to £50 in the form of a 50% match deposit bonus. The minimum deposit is £15 and a deposit of £100 applies to claim the maximum bonus. However, there is a wagering requirement of eight times the deposit and bonus and the bonus expires after 30 days. Odds restrictions apply for the qualifying bets and bonus for this 10bet welcome offer. Be sure to read the full Terms and Conditions on the betting site.
Bwin
4.3/5
Bwin
T&Cs | 18+
New Bwin UK customers activate the Bwin welcome offer with a minimum deposit of £10 and a qualifying bet of £20 on 3+ selection at odds of 2.0 (Evens) or bigger. The company credits the free bet for losing qualifying bets. However, any winnings from the Bwin welcome bonus free bet do not include the stake. Be sure to read the full Terms and Conditions on the betting site.
Sportingbet
4.3/5
Sportingbet
T&Cs | 18+
Are you joining Sportingbet for the first time? Then your first bet is on the house! Deposit and wager at least £10 on odds of 1/1 or higher. Keep in mind that voided or cashed out bets do not count towards this promo. Should your team let you down, you get your money back as a £10 free bet. Note that horse racing betting is excluded and that only deposits via bank transfer, dinners, eWire, InstantBank, InstantBanking, Kalixa, Maestro, Mastercard, Qiwi, Visa and Wire are eligible for the promo. Be sure to read the full Terms and Conditions in the betting site.

Betting odds categories

Bookmakers offer betting odds on over 50 sports. The most popular sport for betting is football, followed by horse racing and tennis. The most bet on markets are the match winner, handicaps and totals. Bookmakers offer betting odds on more exotic markets which provide the potential for a big win for a small stake. The most popular market in this category is the correct score in a number of sports. In addition to the regular sports, bettors can place wagers on Politics, Esports, TV Specials and novelty bets. Bookmakers quote betting odds for pre-match, in-play and ante post markets.

Here are four of the most popular betting odds categories:

Football

There are more bets placed on football games than any other sport. Bookmakers publish odds for over 200 leagues and Cup competitions. The most popular leagues for betting are the Premier League in England and the Champions League. Bookmakers display the Premier League betting odds for the match winner after 90 minutes and a link to additional markets. These betting options appear under the headings of main, handicaps, totals, players, goals, corners and bookings. More exotic markets include the correct score and first, last and anytime scorer.

8 months ago 0 301
Football is by far the most popular betting sport in the world. It is a global sport and there are more members of FIFA than the United Nations. The interest ...

Football is the most popular in-play betting sport. Bookmakers update football games odds during an event. Bettors can cash out bets to guarantee a profit or limit the loss by closing a bet that has not reached expiry. There is live streaming of football with some bookmakers but others provide an animation of the progress of play and live match data which complement the betting odds. Overall, football today is huge for betting.

Top football betting sites:
LV Bet
4.5 rating
Access over 1,500 daily betting events and top-notch features on desktop or mobile.
Karamba
4.5 rating
Karamba is the realm of great betting opportunities with over 30 sports and fantastic offers!
T&Cs | 18+
New Karamba members from the UK or Ireland get a £10 Free Bet after a first deposit and bet of £10 at odds of Evens. Your free bet is then available in one bet at odds of 4/5 or higher. But that’s not all! Once you’re through with your free bet, you get access to the special new bettors’ battle for additional prizes! That is if you cumulate more bets than your fellow Karamba bettors. Note that deposits via PayPal, Neteller, Paysafe or Skrill do not qualify for this offer. Be sure to read the full Terms and Conditions on the betting site.
mr.play
4.5 rating
Are you looking for great betting and casino entertainment? mr.play is the place and it cover well over 25 sports!
T&Cs | 18+
Should you join mr.play for the first time from the UK, you can get a £10 bet token. It is a genuine 100% match bet bonus, so you must first place a £10 bet at Evens odds to activate the token. Your free bet is then valid for 14 days. Before expiry, the token must be wagered once at odds of 1.8 (4/5) or bigger. Winnings do not include the free bet stake.
Betway
5.0 rating
Experience one of the finest betting experience on over 30,000 markets, including live streaming events.
T&Cs | 18+
New members only

1st deposit matched up to £10
1 x 1.75+ odds unlock free bet
Min Dep: £10
PayPal / Debit Card Deposits Only
18+

Politics

Political betting odds are a growth market and millions are staked on elections, especially in the UK and the United States. Experts who would not normally bet use their expertise to win money with big bets on events that could be predicted and opinion polls help.

Horse Racing

Horse racing today is still a very popular sport for betting odds in the UK. Online bookmakers have become more sports-orientated but there is still interest in the latest horse racing betting odds. The biggest betting meetings are the Cheltenham Festival and Royal Ascot. The most popular individual races for betting are the Grand National and the Derby. Bookmakers publish ante post betting odds for the major festivals and races in the UK and Ireland. They also offer horse racing betting odds on major overseas races and international fixtures. Some bookmakers complement horse racing betting odds with the live streaming of meetings in Britain.

Recommended for Horse Racing Betting:
William Hill
5.0 rating
UK's oldest and favourite betting hub offers over 30 betting sports and great promotions.
T&Cs | 18+
New players offer.

You must sign up with the promo code P30.
You get a 2x £15 free bets after placing a £10 bet at ½ odds or higher.
This promo is not available to betting accounts funded via PayPal, Neosurf, Paysafe, Neteller, Skrill, ecoPayz, Kalibra or Postepay.
The free bets are valid for 30 days.
Be sure to always read the full bonus terms on the betting site.
Betway
5.0 rating
Experience one of the finest betting experience on over 30,000 markets, including live streaming events.
T&Cs | 18+
New members only

1st deposit matched up to £10
1 x 1.75+ odds unlock free bet
Min Dep: £10
PayPal / Debit Card Deposits Only
18+
Betfred
4.5 rating
Find the betting quality of the famous UK retail, right at home or on mobile!
T&Cs | 18+
New customers can claim £30 in the form of free bets after placing the first bet for £10 using the optional Betfred promo code. After Betfred login, the qualifying bet is at 2.0 (Evens) of bigger and on any sports market. However, any winnings from the free bet does not include the stake and the free bet amount expires after seven days. Be sure to read the full Terms and Conditions on the betting site.
10bet
4.3 rating
With 10bet you get over 30 betting sports, an easy and pleasant layout, top live betting features.
T&Cs apply | 18+
The 10bet sign up offer allows new customers to claim up to £50 in the form of a 50% match deposit bonus. The minimum deposit is £15 and a deposit of £100 applies to claim the maximum bonus. However, there is a wagering requirement of eight times the deposit and bonus and the bonus expires after 30 days. Odds restrictions apply for the qualifying bets and bonus for this 10bet welcome offer. Be sure to read the full Terms and Conditions on the betting site.

Eurovision

The Eurovision Song Contest is one of the most popular events for novelty betting odds. It is shown live on television and there is plenty of media interest. The UK song is usually prominent in the betting odds but it has performed poorly in recent years. Bookmakers issue Eurovision betting odds.

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New on BookiePro
LV Bet

Access over 1,500 daily betting events and top-notch features on desktop or mobile.

Betfred

Find the betting quality of the famous UK retail, right at home or on mobile!

10bet

With 10bet you get over 30 betting sports, an easy and pleasant layout, top live betting features.

Bwin

Experience one of the best live betting platforms and top betting facilities at Bwin.

Sportingbet

Find out why Sportingbet is one of UK´s favourite and most trusted betting sites since 1998!

Best Betting Sites
Betfred

Find the betting quality of the famous UK retail, right at home or on mobile!

10bet

With 10bet you get over 30 betting sports, an easy and pleasant layout, top live betting features.

Bwin

Experience one of the best live betting platforms and top betting facilities at Bwin.

Sportingbet

Find out why Sportingbet is one of UK´s favourite and most trusted betting sites since 1998!

Karamba
Karamba

Karamba is the realm of great betting opportunities with over 30 sports and fantastic offers!

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