What 200/1 means
With fractional odds, the first number is what you win and the second is what you stake. At 200/1, every £1 you stake wins £200 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 "two hundred to one".
200/1 in decimal and American odds
| Format | 200/1 as | How it's worked out |
|---|---|---|
| Decimal | 201.00 | 200 ÷ 1 + 1 |
| American | +20000 | (201.00 − 1) × 100 |
| Implied probability | 0.5% | 1 ÷ 201.00 |
What 200/1 pays
| Stake | Profit | Total return |
|---|---|---|
| £1.00 | £200.00 | £201.00 |
| £2.00 | £400.00 | £402.00 |
| £5.00 | £1,000.00 | £1,005.00 |
| £10.00 | £2,000.00 | £2,010.00 |
| £20.00 | £4,000.00 | £4,020.00 |
| £50.00 | £10,000.00 | £10,050.00 |
| £100.00 | £20,000.00 | £20,100.00 |
How likely is 200/1 to win?
200/1 implies a 0.5% chance, or about 1 in 201. In other words, the bookmaker expects it to win about once in every 201 attempts. The true chance is usually a little lower than this, because bookmakers build a margin into every price.
200/1 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 200/1. For a £5 each way bet (£10 in total):
| Place terms | Place odds | Returns if it wins | Returns if it places |
|---|---|---|---|
| 1/4 odds | 50/1 | £1,260.00 | £255.00 |
| 1/5 odds | 40/1 | £1,210.00 | £205.00 |
At 1/5 terms, a placed finish alone returns £205.00 from the £10 total stake, so the place part covers the whole bet with £195.00 to spare. Work out any each way bet.
If a horse at 200/1 is withdrawn
A horse priced at 200/1 being withdrawn doesn't trigger a Rule 4 deduction. The scale only applies when the non-runner was 14/1 or shorter. Work out a Rule 4 deduction.
Prices either side of 200/1
| Price | Decimal | Implied probability |
|---|---|---|
| 150/1 | 151.00 | 0.7% |
| 200/1 | 201.00 | 0.5% |
| 250/1 | 251.00 | 0.4% |
See every common price explained, or convert any price with the odds converter.