What do you win on these betting odds?

Question

if i put a bet on what would i win ??

if i put £10 each on these 2 odds what would i win back??

7/5

15/8

i put £10 on each so £20 alltogether

Answer 1

Here's a simple way for your to figure it out...

Just take the odds 7/5 and remember from grade school that a fraction is a division problem.  7 divided by 5 = 1.40  Simply take this number and times is by your wager amount to get your answer...1.40 x  10 = 14.00   Your profit will be 14 quid plus your 10 refunded for a total return of 24 quid.

EDIT:  

My explanation works all of the time!  Let's use an easy to figure one to prove it.  If you see odds of 2/1 it means that you get paid 2 for every 1 you risk.  You will also get the risk amount back as well.  2 divided by 1 is 2.00 x 1= 2.00 + your initial bet of 1.00 for a total of three.

Okay so if the odds are 2/5 that means that you will win 2 for every 5 you risk.  2 divided by 5 is 0.4  Take the 0.4 and multiply it by your wager amount of 5.  0.4 x 5 = 2.00

See? It works ALL of the time.

Answer 2

There is explanation of all the odds at http://bettingwise.hit.bg/Sportsbettingt...

as well as reviews of the best gambling sites

Answer 3

7:5 odds = 7.14 on the win, + your initial bet, so 17.14.

15:8 odds = 5.33 + initial bet, so 15.33

The way to figure this out is to cross multiply:

10/x = 7/5

50 = 7x

50/7 = x

Another way is to change the odds into a percentage, with the payout as the numerator:

5/7 = .714, .714 X 10 =7.14

Or, you can use the formula:

(1 + (payout/odds bet)) X actual bet = total winnings

Edit: What potsie said is also correct. It depends on how the bet is set up:

Betting 7 will win 5

or

Betting 5 will win 7

What he said is correct for the 2nd one, what I said is correct for the first one.