How do I read different types of odds?
There are different ways in which odds can be displayed for sports betting markets. The three primary display types include American Odds, Decimal Odds, and Fractional Odds.
- American Odds: Are expressed as whole numbers with a minus (-) or plus (+) sign placed in front of the odds. If the figure displayed is positive, the odds are quoting how much money will be won on a $100 wager. If the figure displayed is negative, the odds are stating how much money must be wagered to win $100.
- Example: if a bettor places a wager at -180, they must bet $180 to win $100. A bet at +300 signifies $300 is won for every $100 in wagers. This means, it is only a way of expressing the odds and does not mean that $100 is the minimum bet requirement (the minimum straight wager amount $1).
Decimal Odds: A display type, most common in Europe. The decimal figure stated is used to calculate the total return, inclusive of the stake.
Example: When the decimal price is 3.75 then the total return will be $37.50 for a bet of $10. To calculate the exact payout for a certain bet amount, simply multiply the stake wagered by the decimal odds displayed.
- Fractional Odds: A display type that quotes the net total to be paid out relative to the amount wagered. This display type is most commonly utilized by bookmakers in Europe but are also popular in U.S. horse racing.
- Example: If fractional odds read 4/1 or 4:1 ("four-to-one"), the bettor stands to make a $40 profit on a $10 wager. Should the odds read 1/4 (read "one-to-four" or "four-to-one on"), the bettor stands to make $2.50 off that same $10 wager amount. Should the bettor win, they always receive the original stake back. In the case of the $10 4/1 wager, the bettor receives a total of $50 in return ($40 plus the original $10)
- Fractional Odds can be converted into American Odds by doing the following:
- Positive American Odds: Multiply by 100 (Fractional Odds of 4/1 are equal to American odds of +400)
- Negative American Odds: Multiply the Fractional Odds by negative 100 (Fractional Odds of 1/4 are equal to American odds of -400)