Eurosport - Wed, 28 Apr 10:25:00 2010
Gamblers will be making history when they place their bets with bookmakers at racecourses on Wednesday.
It will be the first time bookies have used decimal odds rather than fractions.
The move is an attempt to get more young people interested in the sport while also increasing the range of prices on offer.
"We need to attract a younger audience and to do that we need to overhaul betting language that is alien to anybody who went to school since the UK went decimal in 1971," said Chris McFadden, chairman of Racing for Change.
The system, used already in Australia, is on trial at Ascot with four of five bookies, with free admission to the racecourse.
Bookmaker Paddy Power told Sky News: "There are some dinosaurs in racing who won't want this, but we'll give the gambling public whatever they want."
Under a decimal odds system, the initial stake is shown as well as the winnings: 6-4 would be shown as 2.5 and 20-1 would become 21.
Comment 19 - 38 of 38
I've read these comments with interest and nobody seems to have mentioned the each-way bet where a place gets you a fraction of the odds. Lets say the bookie pays a quarter of the odds for a place (1st, 2nd, 3rd or 4th). An 11/5 bet will become 2.2 + 1 for a straightforward win bet = 3.2. But a place bet doesn't get a quarter of 3.2, the place bet has to be calculated as (2.2 x 0.25) + 1 which comes out as 1.55.
If the young gamblers of today struggle with fractions then I can't see this new system helping very much. I hope they don't do too many each - way yankees!
idiots... 6-4 is 1.5 not 2.5
Sorry & 600pence ( p ) not six pound
Julie what is one pound, i thought you were going decimal 100pence ( P ) do you meen.
Youngters would rather spend it on DRUGS & BOOZE & getting BAILED OUT.
As my old dad used to say "if it's not broken don't fix it"
they're just trying to get more working class people to gamble so they can get rich while we lose our money.
The sporting life reports the trial was a failure. Perhaps the punters saw through "con" as, in my experience, decimal odds pay less because they are rounded down. 13/8 (1.625/1 = 2.625) would be decimalised to 2.6 The difference of 0.025 may not be a lot of difference for the £1 punter but for the regulars & bigger money punters that difference can add up to a terrific amount over time. I doubt that other fractions (eg 11/8 = 2.375) are rounded up (2.4).
As like decimalistion in 1971, the "punters" would be the ones to lose out.
Whilst there is a choice, it is likely that the fractional odds will be better value.
I agree with number 17 I presume fractions are still part of the maths curriculum and if there is any difficulty in understanding the odds they should not be betting.
the youngsters dont care all there money goes on roulette,they want educateing you cant win on them ,get them out of shops that will be better for horse racing
Yet again it will end up costing the punter as 20-1 won't be available and for ease the bookies will do 20.00 deducting a point. To be honest if you can't do the sums - you should not be gambling! I am all for change, but this is to make the bookies lives easier as betfair is in decimals! It is a great way to learn fractions and over-round!
Its a rich persons game, for us regular folk its the road to ruin!! I grew up without a clue about gambling, and i like it that way. They should kill it off once it looses popularity with younger people.
Oh come on, get real, the system of betting is as old a the sport itself, how hard is it to work out what a 5-1 bet would return? People who cant figure out the betting odds as they are now probably need instructions on how to get out of bed every morning. If the kids today have'nt got the brains to adapt then we are in trouble.
From a recovering compulsive gambler - This is ridiculous why are we trying to get horse racing to a younger audience by simplifying the maths involved ? Its only because of the massive revenue the government receive from the gambling industry who have no concern for the thousands of lives that are ruined by gambling !
Don't they mean an audience under 11, I spent the last few years of primary school being told fractions were bad, then GCSE up being told decimals were.
i work with bruce betting, most people struggle with odds like 12/5 , 11/5 etc , the usual qs is which odds are better ??? so what hope have punters got of making up 2.75 3.75 etc...
Hi i'm sorry but i thought the allied side won the war if so why are we doing everything that europe tells us what to do,,, why cant they make some changes,, at this rate why did we bother with the war we should have just put our hands up like the italians and french did,,,,
Why can't things just be left alone??
I think this will be the end of the eighth fractions ie 15/8. If it remains, it will appear as 2.875 which I am sure even to youngsters is confusing. I am sure all the disappearing fractions ie 11/8, 13/8, 15/8, 21/20, 85/40 will disappear in favour of the layers rather than the punters. Long gone are the days when a course layer would go 100 pounds to 3 on a 33/1 shot. Don't forget 100/6, 100/7, 100/8 which were replaced with 16/1, 14/1 and 12/1. All at a loss to the punter.
In Reply to number 17. You can't have decimals and fractions running side by side at the race track because decimals are more streamlined therefore quicker and fractions would find it hard to get over the frences! Also improper fractions probeble would not be allowed in
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