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п»їHow to Read Betting Odds.
If you’re new to the world of sports betting, one of the first things you’ll need to do is figure out how betting odds work. At a quick glance, betting odds can be quite intimidating to first-time bettors, and you may find yourself asking “how do betting odds work?” That’s where Compare.bet can help; we’ve taken it back to the basics to explain betting odds and how they work.
Odds Converter.
What are betting odds?
The first step to understanding betting odds is appreciating what they do. Betting odds simply indicate the likelihood of an event and the return you’d get if you did make a wager on the result. Betting odds may be displayed in three different formats at US sportsbooks and online and mobile sports betting platforms: American odds, fractional odds and decimal odds. Different formats don’t mean different odds; it’s simply a different way of presenting them. This isn’t as complicated as it might sound and, by the time you’ve read our guide to betting odds, you’ll be an expert.
American odds.
Let’s consider a real-world example to understand how American odds work in action:
When it comes to calculating the return from a bet made using American odds there are two different formulas that can be used:
Calculating negative odds: (100/Odds) x Stake = Profit Using the example above: (100/190) x $100 = $52.65 Calculating positive odds: Odds x (Stake/100) = Profit Using the example above: 170 x ($100/100) = $170.
When looking at American odds, it’s important to remember that the results of some matches have a points spread attached to them. This applies to a variety of sports including NBA, NHL, NFL and MLB games.
When a point spread is attached to a set of odds it means that for the bet to be successful the team must ‘cover the spread’. This means that the team you are betting on must win or not lose by a predetermined margin of points.
Fractional odds.
Displaying odds in a fractional format is more common in overseas markets, such as the UK, than at US online sportsbooks, but it’s useful to understand them nonetheless. Fractional odds are some of the most simple to understand, as they present your potential winnings as a fraction of the money you stake: while the denominator represents the amount bet, the numerator is the amount your stake will yield in a winning bet.
For example, odds of 1/1 mean you’d get a return of $20 for a winning $10 bet. Want a real-life example? Making a $10 winning bet on an NBA game priced at 5/1, would net you $60 in total.
You can use the following formula to calculate potential returns with fractional odds:
Decimal odds.
The decimal odds format, also known as European odds, represents the multiple of your stake that you will get back for winning a bet. While these are more common at overseas betting exchanges, you may see these at US betting sites. For example, betting on a market priced at 2.5 means you would win two and a half times your stake if your bet were to win. This means you’d win $2.50 for every $1 you wager.
Another example of decimal odds in action would be betting on NHL game with odds of 9.0. A $10 stake on odds of 9.0 would earn a total payout of $90 with $80 being won from the sportsbook and your initial $10 stake being returned.
You can use the following formula to calculate potential returns with decimal odds:
Calculating total payout: Odds x Stake = total payout e.g. 9.0 x $10 = $90 To calculate profit: (Odds x Stake) – Stake = profit e.g. (9.0 x $10) – $10 =$80.
Comparing different types of odds.
Whichever format odds are written in, they all have an equivalent in another format. While some sites, such as William Hill’s Jersey sportsbook, allow bettors to change odds formats, it is useful to understand how to calculate odds between formats. Not only will this help you understand your potential return, but it also makes it easier to compare betting odds across sportsbooks.
Fractional odds to:
Decimal odds to:
Fractional American (decimal odds-1) and round to nearest integer = fractional odds (decimal – 1) x 100 = American odds (3.75-1=2.75) = 2.75/1 or 11/4 (3.75 – 1) x 100 = 275.
Positive American odds to:
Negative American odds to:
US sports betting markets.
We’ve explained betting odds, but what markets are these set on? As the US sports betting industry continues to grow, so does the selection betting options, or betting markets, at each site. Odds will vary between these markets, and even between the same markets at different sports betting sites. Not quite sure what every US sports betting market means? These are the most popular:
Straight bet.
A straight bet is a single bet on the outcome of a game or sporting event that is determined by a money line or point spread.
A futures wager is a bet placed on the outcome of an event in the future. For instance, you can place a wager on the winners of the NFL season which doesn’t even begin until next year.
A parlay wager is a single bet that is linked with two or more wagers. In order to win a parlay bet, a bettor must win every wager in the parlay. If a bettor loses one wager in the parlay then they will lose the entire parlay bet. Parlay bets tend to have much higher odds than other bet types.
Teaser bets are usually available for basketball and football events. A teaser allows bettors to combine their bets on two different games and adjust the point spreads for the two games. However, the better will see a lower return in the event that their teams win.
Round robin.
A round robin is essentially a series of parlay bets. For instance, a round robin made up of three teams will consist of three two-team parlay bets.
Propositions.
Propositions bets are sometimes referred to as “prop” bets. These bets focus more on the outcome of a certain event happening during a sports game such as “which team will score the first touchdown?” or “how many field goals will team x score?”
It’s up to you to compare betting odds and pick your betting market. If you’re new to sports betting, we’d recommend sticking to ‘safer’ bets with lower odds until you get to grips with how it works exactly.


Sports Betting Odds.
Sports Betting Odds Explained.
Many people don’t know how to read or calculate sports betting odds, so below we have done our best on explaining how betting odds work. The most common type of sports betting odds used in North America are the American style odds which we explain below.
American Style Sports Betting Odds.
Most online sportsbooks will list their odds in what is called “American Odds”. There are a couple different versions of sports betting odds, but these American Odds are the most common odds used. Reading and understanding sports betting odds can bet a little confusing to beginners, so we have provided an example below using two NFL football teams:
American Odds.
The number shown in the bracket represents the odds. The American Odds have two components to them, the first being the positive or negative sign, and the second being the number that follows the sign.
The next step is figuring out exactly how much the bet pays out, which is where the numbers in the odds come into play.
A listed odd with a – sign in front of it, such as the -140 in our example above, shows us how much money you would need to wager in order to win $100. So using the -140, this would show us that you would need to bet $140 in order to win $100 in profits. You can easily substitute the $100 bet for a $10 bet by moving the decimal place over one spot, showing us that you would need to wager $14 in order to win $10 in profits.
Examples:
Examples:
Below is an example of NFL betting odds taken from an online betting site.
The great thing about betting online is that the online sportsbooks will do the calculations for you before you place your bet. You can click on the outcome or team you would like to bet on, and then input the amount you wish to wager and it will show you your potential pay out before you confirm your bet.
Ready To Start Betting? MyBookie and BetNow are my two favorite sportsbooks and make betting very easy. You will also get a Free Money Bonus at each sportsbook if you follow either link above.
Decimal Style Sports Betting Odds.
Decimal style odds are used mostly in Europe, and are pretty easy to understand. To calculate the decimal style odds all you will need to do is simply multiply the amount you wish to wager by the decimal odds shown and you will get your payout. For example it may look something like this:
Decimal Odds.
Matchup Odds USA 2.40 Brazil 1.55.
If you wanted to place a $10 wager on the USA at 2.40 you would simply need to multiply your $10 wager by the 2.40 odds (10 x 2.40) to find out that the payout is $24. It is important to realize that with decimal style odds it includes the amount you wagered, so to find out profits you would need to subtract your wager ($24 – $10) to find out your potential payout is $14 in profits.
If you wanted to place a $10 wager on Brazil you would again just multiply $10 x 1.55 to find out that you would win $15.50 total or $5.50 in profits.
Decimal style betting odds are very simple to understand, but you won’t see them displayed in many North American sportsbooks. With that said, most online betting sites will allow you to chose the style of betting odds you want displayed, with American odds set as the default.


How Do Odds Work in Betting?
If you are planning to start betting, be it casino gambling, sports betting, or any other type, it's important to understand the odds. It would be preposterous and absurd to think about placing bets without having a good grip on the main types of betting odds and the ability to read and interpret the various associated formats.
The three main types of betting odds are fractional (British) odds, decimal (European) odds, and American (moneyline) odds. These are simply different ways of presenting the same thing and hold no difference in terms of payouts. This means that a chance (percentage probability) of an event occurring can be converted and presented in any of the aforementioned types of odds.
How Fractional Odds Work.
Fractional odds (aka British odds, UK odds, or traditional odds) are popular among British and Irish bookies. These are typically written with a “slash (/)” or a “hyphen (-),” e.g. 6/1 or 6-1 and announced as “six-to-one.” Fractional odds are used by some of the world’s largest bookmakers, making them the most preferred odds across the globe.
Therefore, the total (potential) return on a stake can be stated as:
For instance, one of the major sports betting websites listed the following fractional odds for futures betting on the team to win the 2017-18 NBA Championship. Below is a selection of the three teams that had the lowest odds of winning.
Golden State Warriors: 10/11 Houston Rockets: 9/4 Cleveland Cavaliers: 7/1.
It can quickly be determined that the Golden State Warriors are the favorites while the odds on Houston and Cleveland winning are longer. That is, one wins only $10 against every $11 wagered on Golden State to be the champions. Meanwhile, one wins $9 against each $4 (i.e. 3.25 times) put at stake for Houston to win, which is a bit less probable. For Cleveland, one wins $7 against each $1 bet.
In the above example, if you bet $100 on Golden State to win, you could make a $90.91 profit [$100 x (10/11)], and could get back your initial stake of $100, resulting in a total payout of $190.91. However, if you wager $100 on Houston to win, you could receive a profit of $225 [$100 x (9/4)], in addition to the $100 initial stake leading to a total payout of $325. The potential profit for a Cleveland win would be even higher, as you could make a profit of $700 [$100 x (7/1)]. With the initial stake of $100 being returned, it would make for a total payout of $800.
How Decimal Odds Work.
Decimal odds (aka European odds, digital odds, or continental odds) are popular in continental Europe, Australia, New Zealand, and Canada. These are a bit easier to understand and work with. The favorites and underdogs can be spotted instantaneously by looking at the numbers.
The decimal odds number represents the amount one wins for every $1 wagered. For decimal odds, the number represents the total payout, rather than the profit. In other words, your stake is already included in the decimal number (no need to add back your stake), which makes its total payout calculation easier.
The total (potential) return on a stake can be calculated as:
For instance, one of the renowned betting websites priced the candidates to win the 2020 U.S. Presidential Election. Here, we list the decimal odds for the candidates and the biggest long shot among the candidates listed by the bookmaker.
Donald Trump: 4.00 Joe Biden: 1.3.
These numbers merely represent the amount one could win against each $1 put at stake. Therefore, if one bets $100 on Donald Trump to be re-elected as president, this person could make a total payout of $400 ($100 x 4.00). This amount includes the initial stake of $100, giving a net profit of $300.
Similarly, a bettor could make a total payout of $130 ($100 x 1.3) if they successfully bet $100 on Joe Biden. Deducting $100 from this return gives the bettor the net profit earned.
Reviewing the prices that the bookmaker has set for each candidate, it can be determined that according to the bookmaker, the probability of Biden (favorite) winning the election is higher than that for Trump. The higher the total payout (i.e. the higher the decimal odd), the less probable (and riskier) it is for the listed candidate to win.
How American (Moneyline) Odds Work.
Let’s understand this with the help of an example:
One of the popular betting websites priced the NCAA "Sweet 16" men's basketball game between Duke and Syracuse on March 23, 2018, with the following moneyline odds.
In this matchup, there is a big difference between the two odds, indicating a much higher probability of Duke winning the game and advancing to the next round of the NCAA Tournament.
Key Takeaways.
The three main types of betting odds are fractional (British) odds, decimal (European) odds, and American (moneyline) odds. These are simply different ways of presenting the same thing, and hold no difference in terms of payouts. Fractional odds are the ratio of the amount (profit) won to the stake; Decimal odds represent the amount one wins for every $1 wagered; and American odds, depending on the negative or positive sign, either indicate the amount one needs to wager to win $100 or the amount one would win for every $100 staked.
The Bottom Line.
If you are planning to enter the betting or the gambling world, it is important to be able to understand and interpret all types of odds well. Once you have mastered the three popular types of odds (fractional, decimal, and American), you can move towards a more detailed read on this topic and find out how the house always wins. Please refer to Understanding the Math Behind Betting Odds & Gambling for the conversion between the different formats of odds, the conversion of odds into implied probabilities, and the differences between the true chances of an outcome as well as the odds on display.


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What do sports betting lines mean?
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If that sounds like you, we’re here to assist you. If you’ve stared at a board at a sportsbook or just seen spreads and moneylines on the Internet and been utterly confused, don’t worry. It’s not just you. Those numbers can be confounding.
But hopefully, once you’re done reading this, you’ll completely understand how they work. As you prepare to dive into the world of sports betting, here’s a breakdown of how the lines work, starting with …
Spreads.
It would be really easy to bet on a game if you could put money on a heavy favorite to win.
That’s where point spreads come in. Let’s look at an example:
In this case, you can bet on either two outcomes: you can put money on the Eagles to win the game by 4.5 points OR MORE, which makes them the favorites. Or you can bet that the Giants will either win or lose by LESS THAN 4.5 points. They’re the underdogs.
Now, sometimes the spread “moves” during the days leading up to the game. Perhaps the Eagles’ spread ends up being -3.5 (in which they must win by 3.5 points or more to give you a victory in your bet). Your bet all depends on whichever spread you bet on, whether it was when the Eagles were favored by 4.5 or 3.5 points.
If you ever see “PK” or “pick” next to a team, it means there’s no spread and you can bet on who will win, no matter what the score is.
Moneylines.
Let’s take that same example above but use moneylines:
The team with a minus symbol is the favorite, and the number is how much money you would need to bet to win $100. In this case, you would have to bet $200 on the Eagles in order to win an additional $100.
Note that you can bet any amount you want, but those numbers are always calculated and posted the same way, either in how much money you would need to wager to win $100 or how much money you could win by wagering $100.
If you’re betting on something like the team who will win the Super Bowl in the future, you might see it look like this:
New England Patriots � 3/1 Baltimore Ravens � 5/1 Kansas City Chiefs � 8/1.
If you were betting on the Patriots and their 3/1 odds, you would win $3 for every $1 you spend. So if you bet $50 on the Pats and they ended up winning the Super Bowl, you’d win $150 (plus your original wager) back.




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