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So, if the bet is 7/1 for the underdog to win in a football game, it means that 7 times out of 8 the underdog will lose the game. But, 1 time out of 8 the underdog will win. The reason you would place this bet is because you think that this will be the 1 time that the underdog wins.
1 in __ | Decimal | Percent |
1 in 7 | 0.14 | 14% |
1 in 8 | 0.13 | 13% |
1 in 9 | 0.11 | 11% |
1 in 10 | 0.10 | 10% |