Calculating a return
At 3/2, a ₹100 cash stake produces ₹150 profit if it wins and ₹250 total return. The calculation is ₹100 × 3 ÷ 2 for profit, then add the original ₹100. At 1/4, the same stake produces ₹25 profit and ₹125 total return. A fraction smaller than one describes profit below the stake, not a partial refund.
For a fractional price a/b, decimal odds are 1 + a/b. Thus 3/2 equals decimal 2.50. The simple implied probability is b/(a+b), giving 40% for 3/2 before any adjustment for market margin. These are format conversions, not proof of an event's actual chance.
Evens and odds-on
Evens commonly means 1/1 fractional or 2.00 decimal. Odds-on prices such as 1/4 imply a higher price-based likelihood and smaller profit per unit stake. Odds-against prices such as 3/1 imply a lower price-based likelihood and larger potential profit. None guarantees a result.
Settlement exceptions
Dead heats, deductions, voids and stake-not-returned promotional bets can change the simple formula. A receipt should show the accepted price; a later displayed market price does not automatically replace it. An each-way wager can use a fraction of the win price for its place component under separate terms.
Checking arithmetic
Keep the stake, profit ratio, returned stake and any adjustment as separate entries. Do not multiply the whole account balance by the price or count a returned stake as profit. Fractional and decimal displays can describe the same accepted wager, so differences in presentation alone do not establish different value.
How are fractional place odds converted?
Under stated each-way terms, apply the place fraction to the profit ratio, then add one to obtain decimal place odds. A win price of 8/1 with one-quarter place terms gives 2/1 for the place component, equivalent to decimal 3.00. Applying one-quarter to the entire decimal 9.00 instead would produce 2.25 and a different payout. Record the fraction, qualifying positions and separate stake before calculation. Deductions and dead heats can require further adjustments under the actual market rules.