That simplicity is why decimals are so preferred and are becoming steadily more popular around the world. Of course, if you’d rather calculate your actual profits instead of your total payout, you’d simply subtract your original stake at the end of the formula: Here are those same sample decimal odds and their potential payouts, each with a $20 stake: 1.25 odds: (1 / 1.25) x 100 = 80% chanceĪnother benefit to decimals is that, just like with fractionals, you can use the given implied odds to calculate your potential winnings like so:.Here are some sample odds in decimal form and how they translate to implied outcome probabilities: The reason why people like decimals so much is that it’s easy to calculate an outcome’s implied probability: It’s definitely the most common approach to displaying odds on betting websites.ĭecimals show the potential return if you’ve made a successful bet, relative to your original stake. Others feel that decimal odds are easier to understand. Decimal Oddsįor some people, fractional odds are the only way to go. It’s all really straightforward and makes it easy to not only calculate the outcome’s probability but also how much you can win. 1/3 odds: For every $3 you bet, you can win $1. 3/1 odds: For every $1 you bet, you can win $3.8/1 odds: For every $1 you bet, you can win $8.If you use the same X/Y concept as above, for every value of Y that you stake, you can win back X (plus your original stake getting returned to you). For 9/4 odds, you can win 9 units for every 4 units you stake. If you’re betting on an event with 8/1 odds, you can win 8 units for every 1 unit you stake. You can also use fractional odds to calculate how much you can win for every unit you’ve staked. Here are some sample implied probabilities that are expressed as fractionals: If you think of fractional odds as X/Y, then you can apply this formula to determine the implied probability as a percentage: Simply, fractional odds let you know how likely it is for a given event to occur, shown as a fraction like 8/1. You’ll most likely see fractional odds presented in the United Kingdom. They’re ultimately just the different ways you’ll see odds written out in different parts of the world. While each appears vastly different, they all still present the same information and create no variation when it comes to payouts. There are three different ways to express sports betting odds: fractional, decimal, and moneyline. To present that as mathematical odds, you have a 16.67% chance of rolling that 3. Rolling one die has just six possible outcomes, and so you have a one-in-six chance of rolling a 3 for every time you roll that die. Of course, the probabilities would be easier to devise if we were playing a truly randomized game. These numbers are calculated probabilities. If you’re seeing odds that are listed as 2 to 1, that means the bookmaker has staked twice the amount that you have on that outcome. Odds are always presented numerically, and these numbers depict the ratio between the amount of money you’ve staked versus how much the bookmaker has staked. But if you do win, you’ll get a much higher payout. If the odds are high, that means that the outcome is less likely, and your chances of winning that bet are actually lower. On the other hand, if the odds are low, your potential payout is also lower. So, the lower the odds are, the greater your chances of winning that bet. Generally speaking, if the odds are low, this suggests that the outcome presented is likely to happen. They can also educate you on how much money you could win on that bet. In simple terms, the odds on a bet tell you how likely a sporting outcome is. Not understanding your betting odds would be foolish - how else could you know your likelihood of getting an actual payout on your wager? Knowing how to read betting odds, in all the different ways they can be presented, means being prepared for all possible results. Having a solid foundation in reading and understanding odds is key when making any sort of bet, whether it’s casino gambling or sports betting.
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