Something you will need to know about when using Betfair and other betting exchanges is decimal odds. In the UK we traditionally use fractional odds, e.g 3/1 or 4/5, where the numerator (the first number) is how many pounds you will win for every multiple of the denominator (the second number). For example, odds of 5/2 mean that for every £2 you bet you will profit by £5, if your bet wins. A winning bet of £2 would return £7 - your £5 profit plus your original stake.
Decimal odds differ by including your original stake as part of the return. To calculate your return you multiply your original stake by the decimal odds. Using the example above, a stake of £2 gives a total return of £7, therefore the decimal odds are 3.5 (£2 x 3.5 = £7). The advantage of decimal odds is that they are much easier compare quickly; which would you prefer to compare, 5/3 and 11/6 or 2.67 and 2.83?
Most bookmakers allow you to change the odds type from fractional to decimal, but in case you come across one who doesn’t, use the odds converter below to calculate decimal odds from fractional odds for easy comparison.