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The Different Types Of Odds Formats
Tue 25 Apr, by Kolade Daniel

The Different Odds Formats

If your predictions come true, betting odds determine how much you stand to walk away with. However, land-based and online bookies can choose to present their odds in different ways. If punters don’t know how to read and interpret these odds formats, their betting potential becomes handicapped. This betting guide will break down everything bettors need to know about the three standard odds formats.

Odds Format #1 – Decimal Odds

These are the most straightforward odds format to understand, especially for new bettors. Decimal odds represent what you stand to win for each $1 wager you place.

Decimal Odds Format At Work

Let’s assume that the chances of Real Madrid, Bayern Munich, and Manchester City winning the UEFA Champions League are as follows:

  • Real Madrid – 2.00

  • Bayern Munich – 3.00

  • Manchester City – 5.00

These numbers tell you what you’ll win for every $1 you wager (your stake included). Consequently, if you wager $200 on Real Madrid winning the Champions League, you’d get $400 if your prediction comes true. If you bet on Bayern Munich to win with the same stake size and hit the mark, you get $600. Following the same pattern with Manchester City, you’d get $1 000.

Odds Format #2 – Fractional Odds

These types of odds are more complicated to deal with. They’re also more commonly used in Great Britain and the United Kingdom. These odds are usually at 6/1, 10/8, 3/7, etc.

Fractional Odds at work.

Using our first example, let’s say that the odds of the same three teams clinching the title are as follows:

  • Real Madrid –10/11

  • Bayern Munich – 9/4

  • Manchester City – 5/1

Now, a bettor who uses a stake of $200 to wager on Real Madrid winning will get;

200 * 10/11 = $182. Plus, for your initial stake, you get a total of $382.

A bettor who uses the same unit-size wager to bet on Bayern Munich will get;

200 * 9/4 = $450. Plus, for your initial stake, you get a total of $650.

A punter who uses the same stake size to bet on Manchester City would get the following;

200 * 5/1 = $1, 000. Plus, with your initial stake, you get $1200.

Odds Format #3 – Moneyline Odds

Also commonly referred to as American odds, this odds format doesn’t take as much effort to understand. Moneyline odds tell you what stake size you must wager to get $100 when you bet on the favorite in any sports event.

Moneyline Odds At Work

For instance, let’s assume that Kelvin Gastelum and Israel Adesanya are to meet in a surprise fight. Again, let’s take the former is deemed the favorite at (-300) odds, and the latter is considered the underdog at (+275) odds. If you were to wager $100 on Adesanya to win the match, and he does, you’d get $275 from that wager. Plus, your initial stake would be $375 in all.

Takeaway

Now that you know the different odds formats and how they work, don’t waste another moment!



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