Betting odds are an essential part of placing a bet, and understanding how they work makes it far easier to make informed decisions. For beginners, 1/1 betting odds, also known as evens, are a simple place to start.
They may look straightforward, but there is more going on beneath the surface. You will see 1/1 across different sports and markets, yet it is not always clear what they mean for returns or probability.
This guide explains how 1/1 odds work in practice, how to convert them into decimal and percentage, common mistakes to avoid, real examples, and how prices can change before an event. Betting should always be affordable and in your control, and getting the basics right helps with that.
How Do 1/1 Odds Work In Practice?
1/1 odds, sometimes called evens, mean a player stands to win exactly the same amount as their stake if their bet is successful.
For example, if a person places a £10 bet at 1/1 odds, they receive £10 profit plus their original £10 stake back, for a total return of £20 if their bet wins.
Whatever the stake, the potential profit on a winning 1/1 bet matches the amount put down. This is why 1/1 is often considered a clear starting point for beginners. These prices tend to appear when an event feels finely balanced and there is no obvious favourite.
With that in mind, it helps to look at what evens say about probability.
How Do You Calculate The Probability Of 1/1 Odds?
To work out the probability shown by fractional odds, you can use a simple formula:
Probability (%) = Denominator ÷ (Numerator + Denominator) × 100
For 1/1 odds, the sum is:
1 ÷ (1 + 1) × 100 = 0.5 × 100 = 50%
In other words, a 1/1 price suggests a 50% chance of the outcome. This is the implied probability of the odds themselves. Bookmakers include a built-in margin across a market, so the true chance can be different.
If you prefer other formats, it is easy to translate evens into decimal and percentage.
Convert 1/1 To Decimal And Percentage
Converting 1/1 odds into other formats can make them easier to understand, especially for those new to betting.
To convert 1/1 fractional odds to decimal, add 1 to the fraction:
1 (odds) + 1 (stake) = 2.0 (decimal odds).
This means for every £1 staked, the total return is £2 if the bet is successful, including the original stake.
To convert 1/1 odds to a percentage, use the same calculation shown earlier:
1 ÷ (1 + 1) × 100 = 50%
That 50% figure is the implied probability based on the price, not a guarantee.
How Much Will You Win On A 1/1 Bet?
Calculating potential winnings from 1/1 odds is simple, as the profit always matches the stake. The examples below show how returns work with these odds.
Worked Example With Stakes And Returns
If a player places a £5 bet on odds of 1/1, the possible outcomes are:
Stake: £5
Profit if bet wins: £5
Total return (stake + profit): £10
If the player stakes £20 at 1/1 odds:
Stake: £20
Profit if bet wins: £20
Total return (stake + profit): £40
The amount returned is always the original stake plus an equal profit if the bet is successful. Keep stakes to amounts that fit your budget.
Knowing the sums is helpful, but it is just as useful to recognise when these prices are most likely to appear.
When Are 1/1 Odds Common In Sports Betting?
1/1 odds usually appear when bookmakers see two possible outcomes as closely matched. This often happens in events without a clear favourite, where either side’s chances look roughly comparable.
These odds are common in sports like football, tennis, and horse racing. For example, a football match between two teams with similar recent results or standings may have evens available on either team to win. In tennis, a match between two closely ranked players might also feature 1/1. In horse racing, if two horses are judged to have a similar chance of finishing first, their prices might be set at evens.
You will sometimes see evens on specific markets too, such as a goals total in football or a set handicap in tennis, when the lines are set to make either side of the market appealing.
Can Bookmakers Change 1/1 Odds Before A Match?
Bookmakers may adjust their odds at any time before an event begins. A price at evens might shorten or drift based on team news, player injuries, weather, market demand, or shifts in expert opinion.
When a person places a bet, the odds at that moment are the odds that apply to their bet. Any changes after placement do not affect it.
It is common for prices to move as kick-off approaches and more information becomes public. If you are following a market, check the latest odds and make sure the price still reflects what you expect to happen. These moves can catch people out, which leads to a few recurring errors.
Common Mistakes With 1/1 Odds
One frequent mistake is mixing up profit and return. Some players think they will receive double their stake as profit at evens, but the profit is equal to the stake. The total return is stake plus profit.
Another error is forgetting to include the original stake in the calculation. If a £10 bet wins at evens, the return is £20 in total, not £10.
Players also sometimes treat evens as proof that both outcomes are equally likely. In reality, prices reflect both the estimated chance and the bookmaker’s margin, along with money already taken on the market.
Finally, people can overlook price changes before an event. Odds react to new information, so it helps to review the market before confirming a bet and to keep stakes within a personal budget.
Examples: 1/1 Odds In Football And Horse Racing
In football, 1/1 odds may be offered for a match where both teams have similar league standings or recent performances. For example, if Team A is set to play Team B and both have performed equally well throughout the season, a bookmaker might set both teams at 1/1 to win. If a player backs Team A with a £10 bet at 1/1 and the team wins, the return would be £20 in total (£10 stake plus £10 profit).
In horse racing, 1/1 odds may appear in races where two or more horses are considered to have equally strong chances. For instance, if a horse has performed well in previous races but faces a competitor with a similar record, the bookmaker may offer 1/1 on either horse.
If you choose to place any bets, do so within limits that suit your circumstances and never wager more than you can afford to lose. Take breaks and keep betting as an occasional activity. If gambling starts to affect your well-being or your finances, seek support early. Independent organisations such as GamCare and GambleAware offer free, confidential help for anyone who needs it.
Understanding evens makes it easier to read a market, compare options, and manage your decisions.
**The information provided in this blog is intended for educational purposes and should not be construed as betting advice or a guarantee of success. Always gamble responsibly.