▁ ▁( ▁or ▁) ▁mean ▁a ▁winning ▁bet tor ▁will ▁receive ▁their ▁money ▁back ▁plus ▁ ▁units ▁for ▁every ▁ ▁units ▁they ▁bet . ▁Mult ip lying ▁both ▁ ▁and ▁ ▁by ▁the ▁same ▁number ▁gives ▁odd s ▁equivalent ▁to ▁. ▁ ▁Dec imal ▁odd s ▁are ▁a ▁single ▁value , ▁greater ▁than ▁ 1 , ▁representing ▁the ▁amount ▁to ▁be ▁paid ▁out ▁for ▁each ▁unit ▁bet . ▁ ▁For ▁example , ▁a ▁bet ▁of ▁ ▁at ▁ ▁( f raction al ▁odd s ) ▁will ▁pay ▁out ▁. ▁The ▁equivalent ▁decimal ▁odd s ▁are ▁ 2 . 5 ; ▁. ▁We ▁can ▁convert ▁fraction al ▁to ▁decimal ▁odd s ▁by ▁the ▁formula ▁. ▁Hence , ▁fraction al ▁odd s ▁of ▁ ▁( ie . ▁) ▁can ▁be ▁obtained ▁from ▁decimal ▁odd s ▁by ▁. ▁ ▁It ▁is ▁also ▁important ▁to ▁understand ▁the ▁relationship ▁between ▁odd s ▁and ▁imp lied ▁prob abilities : ▁Fra ction al ▁odd s ▁of ▁( with ▁corresponding ▁decimal ▁odd s ▁) ▁represent ▁an ▁imp lied ▁probability ▁of ▁, ▁e . g . ▁ ▁corresponds ▁to ▁. ▁An ▁imp lied ▁probability ▁of ▁ ▁is ▁represented ▁by ▁fraction al ▁odd s ▁of ▁, ▁e . g . ▁ ▁is ▁ ▁( equ ival ently , ▁ ▁to ▁ 1 ), ▁and ▁decimal ▁odd s ▁of ▁. ▁ ▁Example ▁In ▁considering ▁a ▁football ▁match ▁( the ▁event ) ▁that ▁can ▁be ▁either ▁a ▁' home ▁win ', ▁' draw ' ▁or ▁' away ▁win ' ▁( the ▁out comes ) ▁then