Odds Guide

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Purpose/Rationale: ODDS responded rapidly to the COVID-19 pandemic and state of emergency by rapidly releasing a series of transmittals. This guide replaces many of those transmittals and consolidates the information. This guide will be updated as Oregon begins to reopen through a phased process established by the Governor.
In this guide, we will provide you with tips on how to improve your blackjack odds and illustrate what factors influence the house edge. Every little bit counts; removing just a fraction of the house edge percentage will make you a more profitable blackjack player. Blackjack House Edge Explained Player’s Advantages in Blackjack.

Betting odds tell you how likely an event is to happen
They also tell you how much money you will win
However, at first, they may seem confusing and complex
Our comprehensive guide takes you step-by-step to explain them

If you’re new to betting, one of the first things you should do is learn how betting odds work. It’s critically important because it allows you to understand how likely an event is to happen, and what your potential winnings will be. At first, it may appear confusing, however, read our guide and let us explain it to you.

In gambling, odds represent the ratio between the amounts staked by parties to a wager or bet. Thus, odds of 3 to 1 mean the first party (the bookmaker) stakes three times the amount staked by the second party (the bettor).

What is Probability?

The most basic level, betting provides you with the ability to predict the outcome of a certain event, and if your prediction is correct, you will win money. For any given event, there are a certain number of outcomes. Take rolling a dice for instance. If someone rolls a dice, there are six possible outcomes. Therefore, if you bet that the person rolls a ‘one’, there is a 16.67% chance that will happen. What betting odds merely do is present how likely the event is to happen. Bookies most frequently in the UK do this as a fraction, i.e. 4/7, whilst the vast majority also offer the ability to view them as decimals. Again, let us talk you through them. All will become clear.

Using Betting Odds to Calculate Probability

Whenever you see two numbers separated by a trailing slash, i.e. 10/1, this is known as fractional odds. From this, you can calculate how likely a given event is to happen with a calculation. For ease of explanation, let’s replace the numbers with letters i.e. 4/1 becomes A/B. Here is the calculation: Probability (%) = B / (A+B).

9/1 can be calculated as 1 / (9 + 1) = 0.10– There is a 10% chance that the event will happen.
4/1 can be calculated as 1 / (4 + 1) = 0.20 – There is a 20% chance that the event will happen.
1/1 can be calculated as 1 / (1 + 1) = 0.50 – There is a 50% chance that the event will happen.
1/4 can be calculated as 4 / (4 + 1) = 0.80 – There is a 80% chance that the event will happen.

Hooray! We’re making progress. Given a fraction, we can now tell how likely (the probability) what we’re going to bet on will happen. Now let’s figure out how much money can be won using betting odds.

Using Betting Odds to Calculate Winnings

Betting odds allow you to calculate how much money you will win if you make a bet. Let’s use the same examples as before, with the same replacement of numbers for letters, i.e. 4/1 becomes A/B. Quite simply, for every value of B that you bet, you will win A, plus the return of your stake.

9/1 for every £1 you bet, you will win £9.
4/1 for every £1 you bet, you will win £4.
1/1 for every £1 you bet, you will win £1.
1/4 for every £4 you bet, you will win £1.

What About Decimals?

Decimals are far more common on exchanges, such as Betfair, but all leading betting sites do give you the option to view betting odds in this format. They are an alternative to seeing betting odds in the fraction format, and in our opinion, are easier to work out. Here is the calculation: winnings = (odds * stake) – stake. Let’s illustrate it with some examples

9.0 can be calculated as (9.0 * £10 stake) – £10 stake = £80 winnings.
4.0 can be calculated as (4.0 * £10 stake) – £10 stake = £30 winnings.
2.5 can be calculated as (2.5 * £10 stake) – £10 stake = £15 winnings.
1.25 can be calculated as (1.25 * £10 stake) – £10 stake =£2.50 winnings.

You can use our bet calculator to help you calculate winnings.
USE BET CALCULATOR

Decimal Odds Versus Fractional Odds

In truth, one isn’t better than the other but there is certainly a trend emerging towards decimal odds. Historically fractional odds were used in the UK, especially on racetracks and on the high street. There are two key differences. Generally, decimal odds are easier to understand. Based on this, there has a movement to attract more people to horse racing by making it more accessible to the average punter. Ten years ago, if you were going to Cheltenham, all the odds would be displayed as fractional odds. Now, they’re largely all in decimals. Don’t hesitate to check out our exclusive Premier League Betting Offers !

Stardust casino. The second difference between the formats is that fractional odds only represent winnings, and do not include the returned stake compared to decimals which do include the stake. The transition from fractional odds to decimals largely kicked off with the growing popularity of the betting exchanges such Betfair. For odds to change slightly, it’s really difficult to marginally increase or decrease the probability without creating large fractions which are hard to compute for the punter.

Use Our Tool to Convert Betting Odds Into Your Favourite Format

Our odds converter toolwill allow you see odds in whatever format you like . Not only that, but it’ll tell you how likely the selection is to win!

In Summary

Betting odds represent the probability of an event to happen and therefore enable you to work out how much money you will win if your bet wins. As an example, with odds of 4/1, for every £1 you bet, you will win £4. There is a 20% chance of this happening, calculated by 1 / (4 + 1) = 0.20.

Next steps

That’s it! Hopefully, that clears up betting odds. You should now have the knowledge to read betting odds, understand how likely it is to happen, and how much you stand to win.

Found this article useful? We have loads more similar ones in our learning section. Here are some popular ones;
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Survey, Harvest & Hunt Data, Draw Odds for Big & Small Game

Population survey data and draw and harvest statistics are provided below. Please note that as a result of software and technology changes, the Department is changing how the harvest and survey data are presented. As of 2018, the data will no longer be provided as a consolidated Hunt Arizona book. Individual summaries will be posted as available.

It is very important that hunters return their hunter questionnaires. The hunter surveys are a critical component of the hunt recommendation process, and the information helps us accurately estimate species harvest and set permit levels.

2020 Harvest Summaries

2020 AZ Spring Javelina Harvest Summary PDF
2020 AZ Spring Turkey Harvest Summary PDF
2020 AZ Bighorn Sheep Harvest Summary PDF

2019 Harvest Summaries

2019 AZ Fall Javelina Harvest Summary PDF
2019 AZ Bighorn Sheep Harvest Summary PDF
2019 AZ Black Bear Harvest Summary PDF
2019 AZ Fall Turkey Harvest Summary PDF
2019 AZ Elk Harvest Summary PDF
2019 AZ Draw Deer Harvest Summary PDF
2019 AZ Pronghorn Harvest Summary PDF
2019 AZ Deer OTC Archery Harvest Summary PDF
2019 AZ Mountain Lion Summary PDF
2019 AZ Bison Harvest Summary PDF

Survey Data

2019 AZ Bighorn Sheep Survey Summary [PDF]
2019 AZ Elk Survey Summary [PDF]
2019 AZ Javelina Survey Summary [PDF]
2019 AZ Mule Deer Survey Summary [PDF]
2019 AZ White-tailed Deer Survey Summary [PDF]
2019 AZ Pronghorn Survey Summary [PDF]

2020 Draw Odds for Big Game

2020 AZ Bighorn Sheep Hunt Draw Odds PDF
2020 AZ Bison Hunt Draw Odds PDF
2020 AZ Deer Hunt Draw Odds PDF
2020 AZ Elk Hunt Draw Odds PDF
2020 AZ Fall Turkey Hunt Draw Odds PDF
2020 AZ Javelina Hunt Draw Odds PDF
2020 AZ Pronghorn Hunt Draw Odds PDF
2020 AZ Spring Turkey Hunt Draw Odds PDF

2019 Draw Odds for Big Game

2019 AZ Bighorn Sheep Hunt Draw Odds PDF
2019 AZ Bison Hunt Draw Odds PDF
2019 AZ Deer Hunt Draw Odds PDF
2019 AZ Elk Hunt Draw Odds PDF
2019 AZ Fall Turkey Hunt Draw Odds PDF
2019 AZ Javelina Hunt Draw Odds PDF
2019 AZ Pronghorn Hunt Draw Odds PDF
2019 AZ Spring Turkey Hunt Draw Odds PDF

Aging Results

Cementum Age Results

2019 AZ Deer Harvest Age Results PDF
2019 AZ Elk Harvest Age Results PDF

No data available except for bighorn sheep, bison, black bear, and mountain lion. The hunter survey response rate for 2018 was poor, to the point that the harvest and hunter success data were not useable.

2018 AZ Bighorn Sheep Harvest Summary PDF
2018 AZ Bison Harvest Summary PDF
2018 AZ Black Bear Harvest Summary PDF
2018 AZ Mountain Lion Harvest Summary PDF

2018 Hunt Arizona Book sections for Big Game (Includes 2013-2017 data)

2018 AZ How to Use Survey and Harvest Data and Bonus Points By Species Section PDF
2018 AZ Bighorn Sheep Section PDF
2018 AZ Deer Section PDF
2018 AZ Mountain Lion PDF
2017 AZ Pronghorn Harvest Summary PDF
2017 AZ Elk Harvest Summary PDF
2017 AZ Bison Harvest Summary PDF
2017 AZ Black Bear Harvest Summary PDF
2017 AZ Mountain Lion Summary PDF

Historic Hunt Arizona Books

2017 Hunt Arizona: 208-page publication PDF (Includes 2012-2016 data)

2016 Hunt Arizona: 205-page publication PDF (Includes 2011-2015 data)

2015 Hunt Arizona: 209-page publication PDFRevised

Poker Odds Guide

2014 Hunt Arizona: 212-page publication PDF

2012 Hunt Arizona: 198-page publication PDF

2011 Hunt Arizona: 198-page publication PDF

2010 Hunt Arizona: 192-page publication PDF

Odd Guideline

2009 Hunt Arizona: 184-page publication PDF