What 1/5 means
With fractional odds, the first number is what you win and the second is what you stake. At 1/5, you stake £5 to win £1, so your profit is smaller than your stake. That's what makes it odds-on: the bookmaker rates this outcome as more likely to happen than not.
It's read as "one to five", but bookmakers often turn odds-on prices round, so you'll also hear 1/5 called "five to one on" or "5/1 on". Both mean the same thing.
1/5 in decimal and American odds
| Format | 1/5 as | How it's worked out |
|---|---|---|
| Decimal | 1.20 | 1 ÷ 5 + 1 |
| American | -500 | 100 ÷ (1.20 − 1) |
| Implied probability | 83.3% | 1 ÷ 1.20 |
What 1/5 pays
| Stake | Profit | Total return |
|---|---|---|
| £1.00 | £0.20 | £1.20 |
| £2.00 | £0.40 | £2.40 |
| £5.00 | £1.00 | £6.00 |
| £10.00 | £2.00 | £12.00 |
| £20.00 | £4.00 | £24.00 |
| £50.00 | £10.00 | £60.00 |
| £100.00 | £20.00 | £120.00 |
How likely is 1/5 to win?
1/5 implies a 83.3% chance, or about 5 in 6. The bookmaker expects this outcome more often than not. The true chance is usually a little lower than this, because bookmakers build a margin into every price.
1/5 each way
An each way bet splits your stake between a win bet and a place bet, with the place part paid at a fraction of 1/5. For a £5 each way bet (£10 in total):
| Place terms | Place odds | Returns if it wins | Returns if it places |
|---|---|---|---|
| 1/4 odds | 1/20 | £11.25 | £5.25 |
| 1/5 odds | 1/25 | £11.20 | £5.20 |
At 1/5 terms, a placed finish returns £5.20 from the £10 total stake, so it still loses £4.80 overall. Each way needs bigger prices than 1/5 for the place part to cover the bet. Work out any each way bet.
If a horse at 1/5 is withdrawn
When a horse priced at 1/5 is withdrawn after you've bet on another runner in the same race, Rule 4 takes 80p from every £1 of your winnings. It applies to bets struck at a fixed price before the withdrawal. Work out a Rule 4 deduction.
Prices either side of 1/5
| Price | Decimal | Implied probability |
|---|---|---|
| 2/11 | 1.18 | 84.6% |
| 1/5 | 1.20 | 83.3% |
| 2/9 | 1.22 | 81.8% |
See every common price explained, or convert any price with the odds converter.