In UK gambling conventions, 8/1 means you win £8 on a £1 bet. So 12.5% chance, i... | Hacker News

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		netcan on Jan 31, 2013 \| parent \| context \| favorite \| on: Tomorrow’s world: A guide to the next 150 years In UK gambling conventions, 8/1 means you win £8 on a £1 bet. So 12.5% chance, if the bookie is a non profit.

mmahemoff on Jan 31, 2013 [–]

Close :). You receive £9 on a £1 bet (you get your outlay back), so it's 1/9 ~ 11.1%

http://www.isfa.com/odds-probability-chart.php

netcan on Jan 31, 2013 | [–]

you're right. oops.

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