What 11/8 means
With fractional odds, the first number is what you win and the second is what you stake. At 11/8, every £8 you stake wins £11 in profit, and your stake is returned on top. Because you win more than you stake, it's an odds-against price: the bookmaker rates this outcome as less likely to happen than not.
It's read as "eleven to eight".
11/8 in decimal and American odds
| Format | 11/8 as | How it's worked out |
|---|---|---|
| Decimal | 2.38 | 11 ÷ 8 + 1 |
| American | +137.5 | (2.38 − 1) × 100 |
| Implied probability | 42.1% | 1 ÷ 2.38 |
What 11/8 pays
| Stake | Profit | Total return |
|---|---|---|
| £1.00 | £1.38 | £2.38 |
| £2.00 | £2.75 | £4.75 |
| £5.00 | £6.88 | £11.88 |
| £10.00 | £13.75 | £23.75 |
| £20.00 | £27.50 | £47.50 |
| £50.00 | £68.75 | £118.75 |
| £100.00 | £137.50 | £237.50 |
How likely is 11/8 to win?
11/8 implies a 42.1% chance, or about 8 in 19. In other words, the bookmaker expects it to win roughly eight times for every nineteen attempts. The true chance is usually a little lower than this, because bookmakers build a margin into every price.
11/8 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 11/8. For a £5 each way bet (£10 in total):
| Place terms | Place odds | Returns if it wins | Returns if it places |
|---|---|---|---|
| 1/4 odds | 11/32 | £18.59 | £6.72 |
| 1/5 odds | 11/40 | £18.25 | £6.38 |
At 1/5 terms, a placed finish returns £6.38 from the £10 total stake, so it still loses £3.63 overall. Each way needs bigger prices than 11/8 for the place part to cover the bet. Work out any each way bet.
If a horse at 11/8 is withdrawn
When a horse priced at 11/8 is withdrawn after you've bet on another runner in the same race, Rule 4 takes 40p from every £1 of your winnings.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 11/8
See every common price explained, or convert any price with the odds converter.