How to read the Betfair screen part one

Not sure how to read the Betfair screen? Let's start by looking at an example and explaining what it all means.

What do all these numbers mean?

Each box on the Betfair screen shows the odds (top) and the amount available (bottom) at that moment in time.

Prices aren't locked in place, nor is the amount of money available, because bets are being offered and matched all the time.

So if the price you like isn't showing, or there's only a small amount of money available to bet, hit the Refresh button and watch it change.

Better still, you can place an offer and wait for someone to match your bet.

Why are Betfair odds shown in decimals?

There are three key reasons why Betfair uses decimal odds rather than traditional fractional odds:

1. Decimal odds are easier to understand

Which is the bigger price - 8/13 or 4/7? If you're not familiar with the set of fractions bookies use, then it might take you a while to work out which is better. Most of us didn't spend a great deal of time at school worrying about anything than the most common fractions. Using decimal odds, you would instantly see that 1.61 is bigger than 1.57.

2. There are more options with decimal odds

A betting exchange couldn't work using only fractions, there just aren't enough fractions to cover all the options available. Decimals allow smaller increments and better competition for prices. Instead of 2.5 (6/4), you could ask for 2.52, 2.54, 2.56 or 2.58, which are all available on Betfair before the next standard fraction of 2.6 (8/5)

3. Decimal odds are a worldwide standard

The UK and Ireland are two of just a few countries still using fractional odds. Decimal betting is now the standard around the world and offers more choices.

Decimal odds are easier to use

Decimals don't take long to learn, and in time, you will find them far easier to use. The key part to remember is that decimal odds always include the unit stake - thus every price you see on Betfair will be >1.

Fractional odds represent the profit - 5/1 means you will win five pounds for every one pound staked.

Decimal odds represent the return - 2.2 means you will receive £2.20 for every pound invested, including your stake.

Don't worry if it takes you a while to get the hang of decimal odds, there's a mouse-over option on the betting screens to show the nearest fraction to the prices you see, plus in the Help section to the right of every market, there is an Odds Converter table.

Read more about how to read the Betfair screen.