What 15/8 means
With fractional odds, the first number is what you win and the second is what you stake. At 15/8, every £8 you stake wins £15 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 "fifteen to eight".
15/8 in decimal and American odds
| Format | 15/8 as | How it's worked out |
|---|---|---|
| Decimal | 2.88 | 15 ÷ 8 + 1 |
| American | +187.5 | (2.88 − 1) × 100 |
| Implied probability | 34.8% | 1 ÷ 2.88 |
What 15/8 pays
| Stake | Profit | Total return |
|---|---|---|
| £1.00 | £1.88 | £2.88 |
| £2.00 | £3.75 | £5.75 |
| £5.00 | £9.38 | £14.38 |
| £10.00 | £18.75 | £28.75 |
| £20.00 | £37.50 | £57.50 |
| £50.00 | £93.75 | £143.75 |
| £100.00 | £187.50 | £287.50 |
How likely is 15/8 to win?
15/8 implies a 34.8% chance, or about 1 in 3. In other words, the bookmaker expects it to win about once in every 3 attempts. The true chance is usually a little lower than this, because bookmakers build a margin into every price.
15/8 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 15/8. For a £5 each way bet (£10 in total):
| Place terms | Place odds | Returns if it wins | Returns if it places |
|---|---|---|---|
| 1/4 odds | 15/32 | £21.72 | £7.34 |
| 1/5 odds | 3/8 | £21.25 | £6.88 |
At 1/5 terms, a placed finish returns £6.88 from the £10 total stake, so it still loses £3.13 overall. Each way needs bigger prices than 15/8 for the place part to cover the bet. Work out any each way bet.
If a horse at 15/8 is withdrawn
When a horse priced at 15/8 is withdrawn after you've bet on another runner in the same race, Rule 4 takes 30p from every £1 of your winnings.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 15/8
See every common price explained, or convert any price with the odds converter.