Betting odds can look confusing at first glance, and 1/1 is a good example. It appears simple, yet it raises sensible questions about value, probability and returns.
This guide explains 1/1 from start to finish in plain English. You will see how fractional odds work, what the implied probability is, how to calculate returns, and how to convert 1/1 into decimal and American formats. We then look at how evens appears in singles, each-way bets and accumulators, why bookmakers price markets at 1/1, and the mistakes to avoid, with clear examples along the way.
Always set limits that suit your circumstances and only bet with money you can afford to lose. Nothing here is advice to bet, and odds never guarantee an outcome.
How Do Fractional Odds Like 1/1 Work?
Fractional odds are a traditional UK format written as two numbers separated by a slash. With 1/1, often called evens or even money, the first number shows potential profit and the second shows the stake required to achieve that profit.
Put simply, 1/1 means a successful bet returns a profit equal to the stake. For every £1 staked, the profit is £1, and the total returned is £2, including the original stake. For example, a £10 bet at 1/1 would return £20 in total if it wins.
These odds crop up across many sports and markets because they are easy to read at a glance and simple to compare against other prices.
What Is The Implied Probability Of 1/1?
Implied probability translates odds into a percentage view of how likely an outcome is judged to be. For fractional odds, the general formula is the denominator divided by the sum of the numerator and the denominator, multiplied by 100.
For 1/1, that is 1 ÷ (1 + 1) × 100, which equals 50%. In other words, evens expresses an outcome that the market views as about as likely to occur as not. This is a snapshot of market opinion, not a promise of what will happen.
With that percentage in mind, it is easier to make sense of the returns you might see on your bet slip.
How Much Will I Win With A 1/1 Bet?
At 1/1, the possible profit equals the stake. If someone places £5 at 1/1 and it wins, the profit is £5 and the total returned is £10, including the stake.
A quick way to think about it is that the total return equals the stake multiplied by 2. So a £10 bet would return £20 if successful, while £25 would return £50.
Converting 1/1 To Decimal And American Odds
Different sites and markets use different formats, but they all express the same underlying price.
To convert 1/1 to decimal, add 1 to the fractional figure, giving 2.00. That means a total return of £2 for every £1 staked, stake included.
In American format, 1/1 is +100. This indicates a £100 stake would return £100 profit, plus the stake back, if the bet wins.
Once the formats are familiar, the next step is seeing how 1/1 plays out across common bet types.
Using 1/1 In Singles, Each-Way Bets And Accumulators
Evens is most often seen in single bets. A single at 1/1 simply doubles the stake on a win, as already shown.
Each-way bets, common in horse racing, split the total stake into two equal parts: one on the win and one on the place. The win portion at 1/1 pays even money if the selection finishes first. The place portion pays at reduced terms set for that race, typically a fraction of the win odds and a set number of places. The exact return depends on those place terms, which vary by race type and field size.
Accumulators combine two or more selections, multiplying returns as each leg wins. If one leg is 1/1, a winning result on that leg doubles the running total at that stage. All legs must win for the accumulator to pay out.
Using evens within different bet types changes how the overall return builds, but the core idea is the same: a winning 1/1 selection doubles whatever amount flows into it.
Why Do Bookmakers Offer 1/1 Odds?
Bookmakers set odds to reflect their view of the event and to balance money on each side of a market. When a contest looks evenly matched, evens is a natural price point that encourages activity on both outcomes.
Prices are shaped by team or player form, injuries, statistical models and how the wider market is betting. A margin is also included, often called the overround, which helps cover operating costs and ensures the book can remain profitable over time.
Because prices move with new information and betting patterns, an event may trade at evens one day and shift away from it the next. That is why it pays to understand what evens represents rather than treating it as a special case.
Moving from how prices are set to how they are used, it helps to be aware of the pitfalls that often catch punters out.
Common Mistakes When Betting Evens
Treating evens as a near certainty is a frequent error. The term describes the payout structure, not the likelihood of a result beyond its implied 50%.
Promotional terms are sometimes skim-read. Qualifying stake types, minimum odds, payment methods and withdrawal conditions can affect whether a promo delivers value or any return at all.
Another trap is failing to compare prices. One firm might offer 1/1 while another offers 11/10 on the same selection. Over time, consistently taking the shorter price reduces overall returns.
Stake sizing can also drift when a market looks finely balanced. A clear, affordable budget helps avoid chasing results or staking more than intended.
If betting starts to feel hard to control, free and confidential help is available from organisations such as GamCare and GambleAware.
Quick Calculation Examples
Below are two short examples that show how 1/1 works in practice and how returns build.
Example: Single Bet Return Calculation
A £5 single at 1/1 returns £10 if it wins: £5 profit plus the £5 stake back. In formula terms, total return equals stake × 2 at evens.
Example: Accumulator With One 1/1 Leg
Consider a three-leg accumulator at 1/1, 2/1 and 3/1 with a £2 stake. If all three selections win, the first leg at 1/1 doubles the stake to £4. That £4 then goes onto the second leg at 2/1, returning £12 in total. The £12 then runs onto the third leg at 3/1, returning £48 in total. This shows how each successful leg multiplies the return passed to the next one.
Understanding 1/1 in this way makes it easier to read markets, compare value and sense-check your bet slip. Keep your betting within set limits, and if you need support, services like GamCare and GambleAware are there to help.
**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.