If you are new to sports betting, you might wonder how to read odds and what they mean. Odds are simply a way of expressing the probability of an event happening or not happening. They can also indicate how much money you can win if you bet on a specific outcome.
There are different ways of presenting odds, depending on the region and the sport. The most common formats on online sports betting platforms are decimal, fractional, and American.
Guide on How to Read Odds
Decimal betting odds show how much money you will get back for every $1 you bet, including your stake. For example, if the odds are 2.50, you will get $2.50 for every $1 you bet or $25 for every $10 you bet. To calculate your profit, you subtract your stake from your return. For example, if you bet $10 at 2.50 odds, you will get $25 back, and your profit will be $15 ($25 – $10).
According to sports betting resources, fractional odds show how much profit you will make for every $1 you stake as a fraction. For example, if the odds are 3/2, you will make $3 profit for every $2 or $15 profit for every $10 you stake. To calculate your return, you add your stake to your profit. For example, if you bet $10 at 3/2 odds, you will make a $15 profit, and your return will be $25 ($10 + $15).
If the odds are positive, you will win $100 if you bet $100. If the odds are negative, you will lose $100. For example, if the odds are -150, you must bet $150 to win $100 or $15 to win $10. If the odds are +200, you will win $200 if you bet $100 or $20 if you bet $10. To calculate your profit, you divide your return by your stake and subtract 1 (if the odds are negative), or multiply your stake by the odds and divide by 100 (if the odds are positive). For example, if you bet $10 at -150 odds, you will get $16.67 back, and your profit will be $6.67 ($16.67 / 10 – 1). If you bet $10 at +200 odds, you will get $30 back, and your profit will be $20 ($10 x 200 / 100).
Reading Odds
Understanding how to read odds can help you make informed decisions when placing your bets and finding the best value for your money. However, remember that odds do not guarantee what will happen in a game or event. They only indicate what the bookmakers or the betting public think is likely to happen.
