There are several different ways to express odds. The most popular types are Fractional, Decimal, and American odds.
We will show you how to calculate odds in this guide and explain the differences between the above-mentioned formats.
Decimal odds are very common in Europe, Asia, Canada, and Australia. They are also known as European odds. The majority of the Asian and European sportsbooks and bookmakers are using them as their standard format. These are the simplest odds to understand and therefore they are great for people who have just started placing bets. They are also great for professional punters as well, because it is really easy to figure them out quickly and find the best value.
How they work:
The decimal numbers stand for the amount you would win if you place a $1 bet.
Let’s say the odds for Manchester United to win against Liverpool are 2.30. That means you would win $2.30 if you placed a $1 bet on Manchester. It is really easy to calculate the potential outcome of a bet by using decimal odds. The only thing you have to do is to multiply your stake with the decimal number and you see what you could potentially win.
Fractional odds are often times also referred to as UK odds and are the most common type odds in the United Kingdom and Ireland. These odds may appear a little bit strange to people who aren’t used to them, but they are pretty easy to figure out actually. Let’s take a look at an example:
Fractional odds are written with a slash in between two numbers like so:
A fractional odd of 4/7 on Arsenal means that you will win $4 for every $7 dollars you bet, including your initial bet of course. Let’s say you are going to bet $70 on Arsenal and they manage to win against Swansea. That means you will end up winning $110 in total. $70 from your initial stake and $40 of actual winnings.
American odds, also known as moneyline or U.S. odds, are obviously highly common in the United States of America. Even though they might appear a little cryptic at first sight, it’s quite easy to understand how the work.
In general, if you are betting on a favourite to win, the number will be display with a (-) sign, which indicates the amount you need to stake to win $100. If you are betting on an underdog, there will be a (+) sign before the number.
Let’s take a look at an example:
Cleveland Cavaliers -250
Golden State Warriors +250
The sportsbook offers you +250 for the Golden State Warriors. The first thing we notice, is that Golden State is the supposed underdog in this match. If you decide to place a $100 on the Warriors, you will make $250 if your bet wins. That does not include the initial stake you have bet. That means you have to add that $250 to the initial stake, which will give you a payout of $350 in total.
If you decide to go with the favorite, however, you are obviously not going to win as much. In order to win $100, you would have to place a $250 bet on the Cavaliers. If your bet wins, you would receive a total payout of $350 ($250 initial stake + $100 in profit).
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