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 There are three primary odds used by bookmakers: Fractional, Decimal, and the so-called American odds. Decimal odds aren’t typically used by US-based bookmakers, but racebooks and even bookmakers may be forced to start using only the decimal system in the United Kingdom.
It's part of an pitch proposed by Racing for Change, which has been exploring ways in which racing could be made more attractive to younger bettors and unanticipated fans. "Anything that will help slow down or reverse the trend that has seen people moving away from racing has to be welcomed," said David Williams, a spokesman for Ladbrokes. "The only people who will object to it are people who don't want to be part of the future." On the other hand, David Hood of William Hill said that there was no indication that the switch to decimal odds would have the desired effect. "The items revealed by Racing for Change do not offer the solutions we had hoped for," he told the Telegraph. "We had a trial of a decimal-odds football betting coupon two years ago and it proved to be extremely unpopular. There is no research to indicate that our customers want it." The decimal odds state how much money in total will be made from a wager of 1 unit. However, in this system a 1 unit stake can mean 1, 10, or 100. Most decimal odds go out to 2 decimal places for greater accuracy of the odds. Fractional odds follow the same base as decimal odds in that they are calculated from a 1 unit stake, but unlike decimal odds they express a different meaning. Fractional odds tell a bettor how much profit will be made from a 1 unit stake as opposed to how much in total will be returned from a 1 unit stake. The fraction system has been around since the creation of the pound, shillings, and pence. “And while it should not be at all formidable for anyone with a rudimentary grasp of mathematics, the sport is keen to assume nothing in its search for fresh blood”, writes Chris McGrath of the Independent.
Miss B says: Personally, I think the fraction system is pretty simplistic. However, the change would make it so everyone was on the same page (when it comes to betting odds), and it would probably bring about a younger crowd.
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