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For example, 3/1 odds mean you profit three times the amount you wagered. AR$1 bet at 3/1 would pay outR$4 in total, or aR$3 profit and yourR$1 original wager. Conversely, 1/3 odds mean you profit a third of what you wagered. AR$30 bet on 1/3 odds would returnR$40 total, or aR$10 profit and yourR$10 original wager.
The odds indicate how many times your stake will be multiplied in your total payout. For example: AR$100 bet at 1.50 odds will pay out $150 ($50 profit, plus yourR$100 stake).