GullyBet India8 September 2025

Betting Odds Explained: Decimal, Fractional & American Odds

With this foundation, you’re ready to explore more advanced betting concepts and strategies. Take your time, practice with our calculators, and remember that successful betting is about making informed decisions based on value, not just picking winners. Even small differences can significantly impact your long-term profitability. Before the game begins, the chances are known as fixed betting odds.

Underdogs have larger fractions where numerator is larger than the denominator (e.g., 5/1, 10/3). Fractional odds (aka”British odds,” “U.K. odds,” or “traditional odds”) are popular among British and Irish bookies.

Match bonuses at online casinos are the most common form of bonus at online casinos. The well known “Welcome Bonus” new players get when they sign up with an online casino and open a new account is by definition also a Match Bonus. The basis of this bonus is that the casino will match your own deposit with a bonus. If the offer says a 100% match bonus and you deposit $100, then the casino will match this with a $100 bonus and you can start playing with $200. With this knowledge, you can approach betting with more confidence, recognizing which https://gullybetofficial.com/ odds formats suit you best and making smarter wagers based on probability and value.

🔢 Fractional Odds (Example: 2/1, 5/2, 10/

Line shopping is one of the smartest habits professional bettors develop. Different sportsbooks may offer slightly different odds for the same event. Shopping around for the best odds ensures you maximize potential profits. Now that you know the formats, let’s dive into reading and calculating betting odds step by step. Odds aren’t universal—they come in different formats depending on where you’re betting. Totals bets, also known as over/under bets, involve wagering on the total combined score of both teams in a game.

  • Although there’s no ‘correct’ betting odds format, some are certainly more confusing than others to the layperson.
  • The implied probability of these two events is 66.7% and 33.3%, respectively.
  • A negative number represents the favored team’s handicap, while a positive number represents the underdog’s advantage.
  • For instance, you would have to wager $120 to win $100 if the New York Knicks were favored by -120 to defeat the Miami Heat.
  • Understanding these concepts and their relation to betting odds is fundamental for making well-informed betting decisions.

Converting between types of odds

As mentioned, the odds for favorites are preceded by a minus sign, while the odds for underdogs are preceded by a plus sign. Small negative odds such as -115 indicate a slight favorite, whereas a very large negative number such as -800 indicates a heavy favorite. Conversely, the odds for a slight underdog will be a small positive number, and the odds for a huge underdog will be a large positive number. Regardless of the odds, the payout on a winning bet includes both the amount of profit from the bet and the bet itself. The only exception would be bonus bets, where the payout would include the winnings only. If you see a team with 1.50 odds compared to 3.50 odds for the opposing side, the team with the lower number is the favorite to win.

Low odds, and negative odds particularly, reflect a sports betting outcome that the oddsmaker considers likely. This guide breaks it all down in plain English, giving you a no-nonsense explanation of what betting odds mean, how they’re calculated, and how to read betting odds across various formats. Understanding how betting odds work is a must for anyone stepping into the world of sports betting, whether you’re betting on the Premier League, Wimbledon, or the Grand National. But with all the different types of odds out there—fractional odds, decimal odds, and American odds—things can quickly get confusing.

Now, let’s take an example where we wish to wager on the NFL season and select the AFC East Division winner. Again, the smaller the fraction, the more likely the outcome and the lower the potential profit. Using fractions can make it a little more difficult to spot which is the lowest with just a glance, but you can work it out easily by dividing the first number by the second. Tiers 1-3 for winning bets are subject to 20% reduction as per T&C’s. PowerBall & MegaMillionsTiers 1-3 are subject to 38% reduction as per T&Cs. Tier 1 winning bets are paid out as a 30 year annuity or discounted lump sum at Lottoland’s election.

Armed with knowledge about different odds formats, implied probability calculations, and line movement patterns, you can make more informed choices and spot valuable opportunities. By following these guidelines, you can optimize your sports betting strategy and consistently find the best betting odds available, enhancing your chances of long-term profitability. Remember, successful betting requires a combination of skill, research and discipline. Futures odds are a dynamic representation of the betting market’s collective belief in the likelihood of various long-term events. As new information and performance data emerge, odds can change drastically, reflecting the changing probabilities of the outcomes.

If you’re on the hunt for a new online casino that blends crypto flexibility, thousands of games, and a fun twist on loyalty, MidasLuck Casino might just hit the jackpot for you. Sports Betting Learn the basics of sports betting and find links to all of our useful betting guides. American odds show the amount you’d win after betting $100 on an outcome. They work like an index, whereby the higher the odds, the less likely your bet is to win (and the bigger your profits if it does win).

In other words, 6/1 is the ratio of the potential profit to the initial bet. Therefore, if you stake $10 at 6/1 and win, you’ll get a total payout of $70 ($60 profit + $10 stake). American, or Moneyline odds, are shown as positive (+) or negative (-) numbers.

Thus, if Tampa wins, you’ll receive your original wager back ($303) and a profit of $100 for a total of $403. So that you can develop this knowledge too, we’ve created this guide that covers all the key aspects of how sports betting odds work. In it, you’ll find all three main formats of sports betting odds explained, the types of bets you will see them used on, and how they affect your payout.

So a +200 underdog has a better chance to win than a +500 underdog. +200 indicates that for every $100 you bet on that result, you will gain $200. In our Gamblers Bet deep dive, we’ll break down everything from bonuses and VIP rewards to payment methods, game selection, and more, so you can decide if MidasLuck deserves your wager. Ohmyzino Casino has quickly made its mark since launching in January 2022. We focus on the extensive slot games selection, secure payment methods, active customer support, and reliable security measures. Read on to learn why Ohmyzino Casino stands out in the competitive online gaming space.

It basically comes down to studying the different statistics and parameters of every game and determining your own probabilities and odds for each team to win. Then, comparing them to odds by other sportsbooks will give you the best value bets. If you see odds with a minus sign, it indicates how much money you need to wager to make a profit of $100. For example, if you want to bet on the New York Jets to win at -200 odds, you’ll need to stake $200 to make a $100 profit.

Also known as European Odds, decimal odds are a popular representation of the likelihood of a specific outcome occurring. At the heart of its popularity is the fact that it is very easy to understand. To calculate the potential winnings from a bet, one needs to only multiply the stake by the odds, and this will give the total return, including the initial wager.