How to Read Betting Odds

To have the best possible experience at the top sports betting sites, you need to know how to read betting odds.

Today, we’re going to tell you how to read odds in betting, whether it’s in decimal, fractional or American formats. Plus, we’ll give you some great examples, so that you’re confident the next time you want to place a bet on your favourite sports.

Betting odds come in various formats, each with its own way of representing the likelihood of an outcome and the potential payout. There are three main types of odds formats, which we’ll look into now.

American Odds

Also known as moneyline odds, American odds are predominantly used in the United States. They are represented using either a positive (+) or negative (-) symbol.

• Positive odds (+): Positive odds indicate the potential profit from a £100 wager. For example, if the odds are +150, you would win £150 on a £100 bet, making your total return £250 (including your initial stake)
• Negative odds (-): Negative odds represent the amount you need to wager to win £100. For instance, if the odds are -200, you would need to bet £200 to win £100, resulting in a total return of £300 (including your initial stake)

Calculating potential winnings with American odds involves simple arithmetic based on whether the odds are positive or negative.

Decimal Odds

Decimal odds are the most common format used in Europe and Australia. They represent the total return, including both the stake and the profit, for every £1 wagered.

For example, if the odds are 2.50, you would win £2.50 for every £1 bet. To calculate the total return, simply multiply your stake by the decimal odds. So, if you bet £10 at odds of 2.50, your total return would be £25 (£10 stake x 2.50 odds).

Fractional Odds

Fractional odds, commonly used in the UK, are represented as fractions. The first number indicates the potential profit, while the second number represents the stake required.

For instance, if the odds are 3/1, you would win £3 for every £1 bet. To calculate the total return, add the profit to the stake. So, if you bet £10 at odds of 3/1, your total return would be £40 (£30 profit + £10 stake).

In sports betting, understanding the concept of favourites and underdogs is crucial for interpreting odds and making informed decisions. Here's how positive and negative odds indicate favourites and underdogs:

Positive Odds (+) for the underdog

Positive odds represent the potential profit from a £100 wager. They are typically assigned to the underdog in a matchup, indicating a lower perceived probability of winning. A successful bet on the underdog with positive odds results in a higher payout relative to the amount wagered.

Negative Odds (-) for the favourite

Negative odds show you the amount needed to wager to win £100. They are typically assigned to the favourite in a matchup, indicating a higher perceived probability of winning. A successful bet on the favourite with negative odds results in a lower payout relative to the amount wagered.

To understand how to read sports betting odds properly, let’s look at an example of each odds format to illustrate how to calculate winnings based on a specific bet amount.

American odds example

• Positive Odds of +150: If you bet £100 on the underdog with odds of +150 and they win, you would receive a payout of £250 (£150 profit + £100 stake)
• Negative Odds of -200: If you bet £200 on the favourite with odds of -200 and they win, you would receive a payout of £300 (£100 profit + £200 stake)

Decimal Odds Example

• Decimal odds of 2.50: If you bet £10 on a selection with odds of 2.50 and it wins, your total return would be £25 (£15 profit + £10 stake)

Fractional Odds Example

• Fractional odds of 3/1: If you bet £10 on a selection with odds of 3/1 and it wins, your total return would be £40 (£30 profit + £10 stake)