Master high-risk, high-reward betting by understanding when the chance of winning is low, but the payout is high.
When people say "long odds," it means the chance of winning is low, but the payout is high. These bets offer substantial returns but come with significantly higher risk.
Very unlikely to win, but huge payout
$10 bet wins $200
Very likely to win, but small payout
$10 bet wins $5
The opposite of long odds is "short odds" - high probability, low payout bets.
20/1
UK/Ireland format
21.0
European format
+2000
US format
| Fractional | Decimal | American | Implied Probability | Category |
|---|---|---|---|---|
| 1/2 | 1.50 | -200 | 66.7% | Short |
| 2/1 | 3.00 | +200 | 33.3% | Medium |
| 10/1 | 11.00 | +1000 | 9.1% | Long |
| 50/1 | 51.00 | +5000 | 2.0% | Very Long |
Value Betting Strategy
Long odds can be profitable if you can identify when the bookmaker's odds are higher than the true probability. This requires extensive research and statistical analysis.
One of the most famous long odds wins in sports history. £1 bet would have won £5,000.
Shows that extremely unlikely events can happen, but they're called "miracles" for a reason.
A horse with little chance but favorable conditions (track, weather, jockey change).
Research might reveal value if the horse has hidden potential the market hasn't recognized.
Unknown player against top seed, but the favorite might be injured or distracted.
Inside information about player condition could provide an edge, but this is rare.
Long odds betting requires strict bankroll management due to the high frequency of losses: