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A wager with a 1-to-1 return would have 1/1 fractional odds as a $100 risk would net a $100 profit. However two sides of a betting market with equal fractional odds will likely be set at 10/11. This is due to the bookmaker's commission.
Fractional odds are primarily used when discussing long odds such as large underdogs or futures. [[American odds]] or [[decimal odds]] are preferred when discussing shorter odds. Smaller fractions can be difficult to visualize. It is easier to interpret -205 or 1.49 in conversation instead of 21/43. On the other hand it's easier to reference a team's 50/1 championship odds rather than saying +5000 or 51.00.