What 21/20 means
With fractional odds, the first number is what you win and the second is what you stake. At 21/20, every £20 you stake wins £21 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 "twenty-one to twenty".
21/20 is the first price above evens: just odds-against. You win £21 for every £20 staked, so it pays a fraction more than evens.
21/20 in decimal and American odds
| Format | 21/20 as | How it's worked out |
|---|---|---|
| Decimal | 2.05 | 21 ÷ 20 + 1 |
| American | +105 | (2.05 − 1) × 100 |
| Implied probability | 48.8% | 1 ÷ 2.05 |
What 21/20 pays
| Stake | Profit | Total return |
|---|---|---|
| £1.00 | £1.05 | £2.05 |
| £2.00 | £2.10 | £4.10 |
| £5.00 | £5.25 | £10.25 |
| £10.00 | £10.50 | £20.50 |
| £20.00 | £21.00 | £41.00 |
| £50.00 | £52.50 | £102.50 |
| £100.00 | £105.00 | £205.00 |
How likely is 21/20 to win?
21/20 implies a 48.8% chance, or just under 1 in 2. In other words, the bookmaker rates it as slightly less likely to win than not. The true chance is usually a little lower than this, because bookmakers build a margin into every price.
21/20 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 21/20. For a £5 each way bet (£10 in total):
| Place terms | Place odds | Returns if it wins | Returns if it places |
|---|---|---|---|
| 1/4 odds | 21/80 | £16.56 | £6.31 |
| 1/5 odds | 21/100 | £16.30 | £6.05 |
At 1/5 terms, a placed finish returns £6.05 from the £10 total stake, so it still loses £3.95 overall. Each way needs bigger prices than 21/20 for the place part to cover the bet. Work out any each way bet.
If a horse at 21/20 is withdrawn
When a horse priced at 21/20 is withdrawn after you've bet on another runner in the same race, Rule 4 takes 45p from every £1 of your winnings.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 21/20
See every common price explained, or convert any price with the odds converter.