The traditional British format still dominant in UK horse racing and high-street bookmakers. Here's exactly how to read and calculate them.
A fraction like 5/2 reads as "five-to-two." The numerator (5) is the profit you win; the denominator (2) is the stake required to win that profit.
You bet £20 at fractional odds of 5/2:
When the numerator is smaller than the denominator (e.g. 1/3), it's called odds-on — the outcome is more likely than not, and profit is less than your stake. When the numerator is larger (e.g. 5/2), it's odds against — an underdog, with profit exceeding your stake.
| Fraction | Decimal Equivalent | Implied Probability | Type |
|---|---|---|---|
| 1/4 | 1.25 | 80% | Odds-on |
| 1/2 | 1.50 | 66.7% | Odds-on |
| 1/1 (Evens) | 2.00 | 50% | Even money |
| 2/1 | 3.00 | 33.3% | Odds against |
| 5/2 | 3.50 | 28.6% | Odds against |
| 10/1 | 11.00 | 9.1% | Long shot |
Fractional odds predate decimal odds by centuries and remain culturally embedded in British horse racing, where they're displayed on track boards and in newspapers. Most UK bookmakers let you toggle between fractional and decimal display in account settings.
Evens (1/1) means your profit equals your stake — a 50% implied probability. A £10 bet at Evens returns £20 total (£10 profit).
Bookmakers round fractions to commonly traded values (e.g. 11/4 instead of an exact decimal conversion) for readability and consistency with traditional racing boards.
Enter any fractional price (5/2, 1/3, Evens) and see the decimal, American, and implied probability equivalents instantly.