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Understanding all types of odds at betting sites is crucial if you want to earn some profit at sportsbooks. Depending on a betting site, you can meet three types of odds – American, Decimal, and Fractional. To learn about the peculiarities of each type, here you have all sports betting odds explained.
Sports betting is extremely popular across the globe. As it has invaded all the countries, numerous international and local-oriented sportsbook sites emerged. Depending on the sportsbook and their own location, punters can meet three types of odds: American, Fractional, Decimal. Understanding the difference between them is important as you have to know whether you are wagering on a likely-to-happen event or not. Thanks to online betting guides for beginners, now you have everything about sports betting odds explained.
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All sports betting odds explained
So, there are three popular types of betting odds – American, Fractional, and Decimal. Predictably, American odds are mostly used at US-based online sportsbooks. Fractional odds are frequently met at British and Irish betting sites. Decimal odds are popular in European countries, Canada, Australia, and New Zealand.
Regardless of the area covered by your favorite sportsbook, it is important to know the difference between all types of odds. The ability to read odds is helpful when you want to wager on events that are covered by international sportsbooks. So, here you have all sports betting odds explained one by one.
American odds
To read American betting odds (or money line odds) you need to know how to differentiate them from the others. Luckily, American odds are easy to reveal as they are written with + and – before the number.
A minus sign (-) is used for the favorites. It indicates the amount of money you have to wager to win $100. At the same time, odds for underdogs are marked with a plus sign (+). They indicate the amount of money you can win for every $100 bet.
For example, you have +385 odds on Detroit Lions to win. To earn a $375 profit from betting on DL aka underdogs, you need to wager $100. If the team wins, you will get back your stake plus $385 – $485 in total.
If you have -175 odds on Detroit Lions to win, the situation is the opposite. To win $100? You need to wager $175. If the team wins, you will get back $175 and earn an extra $100 – $275 in total.
Fractional odds
Now you have Fractional sports betting odds explained. You can recognize this type of odds thanks to a slash sign (/) or a hyphen sign (-). According to the online betting industry news, Fractional odds are the most popular across the globe.
So, if you see 5/1 or 5-1 at a sportsbook site, be sure that you have found Fractional odds. How to read them? In betting, 5/1 or 5-1 means that you win $5 on each $1. The bigger the number on the right, the more winning chances a team has.
For example, let’s suppose that Man City has 10/1 odds to win their next match. As they are underdogs, you will get $100 for each $10 you bet on the club. Additionally, you will get back your $10 stake making your total winning sum $110.
Now, let’s suppose that Man City is predicted to win their next match with 10/11 odds. It makes them favorites, so you will receive only $10 for each $11 you bet (plus your stake is back).
Decimal odds
Finally, Decimal sports betting odds. After learning them, you can go and check the best online sportsbook deals this month, but first, let’s see how to read the Europeans’ favorite type of odds.
Decimal odds are probably the easiest to understand. After looking at them, you will immediately reveal underdogs and favorites. Usually, Decimal odds are written with a dot (.) – 1.25, 5.00, 10.70, etc. The bigger is the number, the fewer winning chances there are.
How to count your possible profit? Simply multiply your stake by the odds. For example, you have 1.50 odds on Taylor Swift to win Grammys for the Best Album this year. Low-numbered odds make her favorite, so you will get $150 ($100 x 1.5) for each $100 stake with $50 as a net profit.
At the same time, you can bet on Ms. Swift aka underdog to win the award for Best Collaboration. With her 7.00 odds, you will get a $700 profit if your $100 stake is successful. Any questions?
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