Betting Odds Explained: How to Read Odds, Spreads & Payouts With Examples

He is passionate about sports betting and enjoys writing about all aspects of the industry, including bookmaker reviews, betting tips and strategies, and news and analysis. American odds can also be shown as a positive or negative figure, which adds complication. If the number is negative, for example, -145 rather than +130, they are favourites and expected to win, resulting in a smaller payout. If the price shown is 3/1, it means £1 stake will result in £3 winnings, plus the initial stake. The number on the right side of the fraction is the stake needed to win the number on the left side. Simply multiply the amount you wish to bet by the decimal odds offered.

Total parimatch goals markets allow you to bet on whether the combined score will be over or under a specific number. These markets often offer excellent value for experienced bettors who understand team playing styles and tactical approaches. Asian handicaps eliminate the draw option by giving one team a head start. Understanding these odds opens up additional betting opportunities and can offer better value than traditional 1X2 markets. Odds change based on betting volume, new information (injuries, team news), and market sentiment. Learning to interpret these movements can provide valuable insights into where smart money is going.

Decimal odds represent the total payout (including the original stake) for every $1 wagered. They are the most commonly used odds format in Europe, Canada, Australia, and New Zealand because they are straightforward to calculate. The higher the decimal number, the less likely the outcome is (higher risk, bigger potential payout). The lower the decimal number, the more likely the outcome is (lower risk, smaller payout). We’ll break down everything from American moneylines to European decimal odds, showing you how to read betting lines across the world’s top sportsbooks. This comprehensive guide covers all three major odds formats, international betting markets, and mobile platform differences that modern bettors encounter daily.

Experienced bettors learn to distinguish meaningful shifts from noise. Reacting wisely to odds movement can increase efficiency and betting success. As a final note, converting betting odds is easy enough with the right formula, or the right tool. You can find additional information, along with Betting Fellow’s free betting odds converter on this page.

Modern bettors navigate multiple platforms, making conversion skills essential. Decimal odds (aka «European odds,» «digital odds,» or «continental odds») are popular in continental Europe, Australia, New Zealand, and Canada. The favorites and underdogs can be spotted instantaneously by looking at the numbers. In this matchup, there is a big difference between the two odds, indicating a much higher probability of the Chiefs winning the game. When you first start coming up against them, it may take you a while to figure out whether or not you’d like to place a bet. Steven is an experienced iGaming content writer who has been working in the industry since 2018.

Negative odds (e.g., -150) indicate the amount that must be wagered to win $100. This format’s straightforward nature allows for easy calculations. To determine potential earnings, bettors multiply their wager by the decimal number.

What Are American Odds?

Start by familiarizing yourself with different odds formats, learn to calculate implied probabilities, and always look for value in your bets. Decimal odds, commonly used in European and Canadian betting, represent the potential winnings for a $1 wager. This type of odds shows the total payout, which includes the initial wager. Bookmakers in England and Ireland commonly use fractional odds, also known as British odds. These odds are written using a slash (/) instead of a hyphen (-), just like a fraction would be written. When bettors encounter this type of odd, they should immediately recognize it as fractional odds.

In other words, 6/1 is the ratio of the potential profit to the initial bet. Therefore, if you stake $10 at 6/1 and win, you’ll get a total payout of $70 ($60 profit + $10 stake). The minus odds represent the favoured team, whist the positive odds represent the underdogs. If you wanted to win 100 units on a result and the odds were -250, then you would need to wager 250 units to make a profit of 100 units.

Comparing the Odds Formats

Find out what different sportsbooks have to offer, compare and contrast before making the final decision on where to place your stake. Two alternative odds formats you should know about since they do pop up in American sportsbooks occasionally are fractional odds and decimal odds. Positive odds indicate the amount of money you could win for each $100 you wager. If you win, the payout would be more than the same size wager betting into negative odds. The Champions League showcases decimal odds at their finest, with complex tournaments requiring clear payout calculations. When Barcelona shows 3.25 to win the tournament, bettors instantly understand that €100 wagered returns €325 total if successful.

• It’s important to know that you do not need to bet £100; the odds work on whatever stake you place.
• If the decimal odds are 11.0, this means a £1 stake results in returns of £11, including the stake.
• And while 4/6 are not big odds, the outcome is still worth betting on if you think it represents value.
• Manchester City at 1.80 versus Liverpool at 2.20 immediately shows expected returns.
• The moneyline is the most basic form of sports betting—just pick who will win.

Understanding these differences helps identify value opportunities. Fractional odds (aka «British odds,» «U.K. odds,» or «traditional odds») are popular among British and Irish bookies. Supreme Court gave states permission to legalize sports betting if they wished to do so.

American odds explained

Keep in mind that moneyline bets simply entail picking the team you think will win outright, unlike a point spread bet where the margin of victory matters. Starting Price (SP) – the starting price is the prevailing odds for a horse at the start of a race. Websites such as Oddschecker compare the odds from the biggest UK bookies to allow you to find the highest odds for whatever you want to bet on. Moneyline odds are probably the most awkward to convert to probability, as you have two different calculations to perform depending on whether the odds are positive or negative. For each type of odds, there’s a different calculation you can use to work out the probability (though you can again simply use an odds converter). Even for those of us who’ve never visited a betting shop, racecourse, or bookie website, betting odds will crop up on the news or in general discussion.

Injuries, weather changes, or lineup announcements also influence odds in real time. Live betting, in particular, involves constant odds adjustments as the game progresses. These shifts reflect updated probabilities and bookmaker liability.

Nonetheless, it’s entirely up to you which odds format you prefer, and most bookies will allow you to set your preferences accordingly. There are an enormous number of sports betting terms, some more obscure than others, but we’ve listed some of the most common odds-related terms below. Because of the way betting works, betting odds also become a representation of probability. This is known as fractional odds, with the first number denoting the profit and the second number referring to the stake.