Odds Formats in sports betting explained

When displaying their odds, there are generally three different ways bookmakers
choose to do so. These are:

DECIMAL ODDS


Widely used in various parts of the world, decimal odds is arguably the easiest odds
format to comprehend as it reflects the inverse of the probability of its corresponding
outcome.

Decimal odds quote the ratio of the potential payout to the initial stake. In other
words, if you place a $10 bet at odds of 1.9, a winning bet returns $19. Remember
that the stake is included in the return, making the remaining $9 your profit.

MONEYLINE / american odds


Also called American odds, Moneyline odds can either be quoted with a positive or
negative sign. To illutrate the difference, consider the following example:

New York Yankees -145
Toronto Blue Jays +125

When positive, the number indicates the potential profits on a $100 bet. This is used
when the outcome is considered less likely to happen than not, and suggests that you
are betting on an underdog.

When negative, the number indicates the amount that must be wagered to potention-
ally win $100 in profits. This is used when the outcome is more likely to happen than not, making a negative sign the hallmark of a favourite.

FRACTIONAL odds


Favoured in the United Kingdom and Ireland, fractional odds quote the potential return
relative to the stake. For example, a won £100 bet at odds of 2/1 would imply that the
bettor made £200 in profits, whereas the same bet at 1/2 imply profits of £50.

HOW DO THESE THREE ODDS TYPES RELATE TO EACH OTHER?


It’s easier to see for yourself:

TABLE SHOWING CONVERSIONS BETWEEN DIFFERENT ODDS FORMATS

TABLE SHOWING CONVERSIONS BETWEEN DIFFERENT ODDS FORMATS

DO I NEED TO KNOW THEM ALL?


No. Bookmakers usually give you the option to choose your preferred odds format. If
you understand the conversion table above, you are probably more profficient than
you necessarily need to be.

 

Do you know the different odds types? 

We have written articles explaining them: