Betting Odds Explained
There are three main types of betting odds, which is Fractional, Decimal and American. Customers will usually be familiar with one type, depending on which online bookmaking service is favoured, what sport is being bet on, and/or your actual location.
In the United Kingdom, the most common type of odds is Fractional Odds. These odds are presented as two numbers separated by a slash, for example 5/1.
Fractional Odds gives the customer the opportunity to calculate the amount of winnings of the bet in comparison to the stake. So, the number on the left (in our example 5) is the amount that will be won, and the number of the right is the amount of money one needs to stake.
Therefore, 5/1 means that for every £1 wagered, the player will win £5 (Total return being stake + winnings, which in this case is £6).
Decimal Odds is another common format for odds, and is commonly used by online sports betting operators all over the world, especially in Europe and Asia. For customers new to betting, decimal odds are a very quick way of gaining an understanding of prices, stake and returns. This type of betting odds is displayed in numeric form, for example 9.00.
The Decimal Odds actually state exactly how much cash will be won from a bet, where one unit is wagered.
So for example, decimal odds of 9.00 means that for every £1 wagered, the total return will be £9.
The main difference between Fractional Odds and Decimal Odds is that Decimal Odds include the return of the unit stake; whilst Fractional Odds informs the customer how much profit will be awarded from a £1 unit stake as opposed to how much in total.
The third type of betting odds is American Odds, often referred to as Money Lines. This type of betting odds is based on a £100 stake, and reflects a positive or negative outcome.
If the price displayed is with a plus (+) sign then it shows the customer the amount that would be won for a bet with a unit stake of £100. If there is a minus (-) sign then it shows how much the customer needs to stake to win £100.
So for example, with odds displayed as +500, means that if one places a £100 bet at this price, then the winnings would be £500 plus the £100 stake. The total return being £600.
If the odds displayed as -500, then if one places a £500 bet at this price, it means that the winnings would be £100 plus the £500 stake. The total return being £600.