What 8/15 means
With fractional odds, the first number is what you win and the second is what you stake. At 8/15, you stake £15 to win £8, 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 "eight to fifteen", but bookmakers often turn odds-on prices round, so you'll also hear 8/15 called "fifteen to eight on" or "15/8 on". Both mean the same thing.
8/15 in decimal and American odds
| Format | 8/15 as | How it's worked out |
|---|---|---|
| Decimal | 1.53 | 8 ÷ 15 + 1 |
| American | -187.5 | 100 ÷ (1.53 − 1) |
| Implied probability | 65.2% | 1 ÷ 1.53 |
What 8/15 pays
| Stake | Profit | Total return |
|---|---|---|
| £1.00 | £0.53 | £1.53 |
| £2.00 | £1.07 | £3.07 |
| £5.00 | £2.67 | £7.67 |
| £10.00 | £5.33 | £15.33 |
| £20.00 | £10.67 | £30.67 |
| £50.00 | £26.67 | £76.67 |
| £100.00 | £53.33 | £153.33 |
How likely is 8/15 to win?
8/15 implies a 65.2% chance, or about 7 in 10. 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.
8/15 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 8/15. For a £5 each way bet (£10 in total):
| Place terms | Place odds | Returns if it wins | Returns if it places |
|---|---|---|---|
| 1/4 odds | 2/15 | £13.33 | £5.67 |
| 1/5 odds | 8/75 | £13.20 | £5.53 |
At 1/5 terms, a placed finish returns £5.53 from the £10 total stake, so it still loses £4.47 overall. Each way needs bigger prices than 8/15 for the place part to cover the bet. Work out any each way bet.
If a horse at 8/15 is withdrawn
When a horse priced at 8/15 is withdrawn after you've bet on another runner in the same race, Rule 4 takes 65p from every £1 of your winnings.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 8/15
See every common price explained, or convert any price with the odds converter.