When you’re taking a look at the odds for different sporting events, there are a lot of different odds that can appear. One of the most common that you might come across is 13 to 2. If you’re confused by this, then this guide will help you to fully understand what it means and how it will impact you if you decide to bet on this choice.
13 to 2 or 13/2
13 to 2 odds will most likely be expressed on betting sites as 13/2. It’s for this reason that it’s normally referred to as fractional odds. These are more common at UK sports betting sites, but for certain sports such as horse racing, US betting sites will offer fractional odds.
What does 13 to 2 Mean?
There are two main factors that go into understanding what 13 to 2 actually means. In terms of probability and in terms of payout. In order to fully understand both we need to go over them separately.
13 to 2 as a Probability
Many people don’t understand that all odds, fractional, decimal or American, are essentially a way of expressing a probability. On top of that, understanding how the probability works is also something escapes them. The reason for this is that it’s not made common knowledge.
13 to 2 is expressing a statistical probability to users through the numbers it shows. The way to work it out is to add both numbers together. This will give you the total number of instances the outcome has been calculated. So, in this case it would be 15. From there you need to look at the two individual numbers to work out the probability of different events taking place. So, if you’re betting on a horse to win, in a 13 to 2 bet that horse would lose 13 times out of 15. The horse would win 2 times out of 15.
This means that if you placed that bet you would statistically have a 2/15 chance of the bet winning. This statistic is not impacted by how many people place the bet. So, for example if 500 people all placed the bet, it wouldn’t change the chances of the bet winning, everyone would still have an equal chance of it winning or losing.
13 to 2 as a Payout
The 13/2 doesn’t just show the probability of the bet winning. It also shows the level of payout that the player is offered. What it essentially means is that for every 2 units that are wagered, 13 units will be returned as winnings.
So, a player who wagers 0.002 BTC on the bet would get back 0.013 BTC as winnings. It’s important to understand that the winnings are not the same as the total amount returned. This is because when a bet is paid out the stake is also returned on top of the winnings. So, the total return from a 0.002 BTC on a 13/2 bet would be 0.015 BTC.
Finding Value on a 13 to 2 Bet
When it comes to finding value on a 13 to 2 bet, you need to look at your own statistics and research. So, if the payout and probability are saying that the chances of winning are 2 out of 15, you need to find out if this is true. For example, if these odds are offered on a soccer match there may be certain aspects that allow you to find value. If the underdog team is at home and has a strong home record, if the favorite has injuries to important players or if the underdog is on a good run of games, all of these can impact on the statistical probability of the bet.
Converting 13 to 2 to Decimal and American Odds
13/2 as a decimal bet is 7.5. The reason for this is that including your stake you would get 7.5 units back for every unit that you wager.
13/2 as an American bet is 650. The reason for this is that for every 100 units that you wager you get 650 units back as winnings.