Decimal odds are commonly used in Europe, Canada, and Australia. They are straightforward to understand. The number represents the total payout, including the stake, for every unit wagered. For example, if the odds are 2.50, a $10 bet would return $25 in total, which includes $15 in profit. To calculate your potential return, simply multiply your stake by the decimal odds.
Fractional odds are mostly used in the UK and Ireland. These odds are displayed as fractions, such as 5/1 or 10/3. The first number represents the potential profit, while the second number indicates the stake. A 5/1 bet means you win $5 for every $1 wagered, plus your original stake back. To calculate the total return, divide the first number by the second and multiply by the stake.
American odds, also known as moneyline odds, are mainly used in the United States. They are shown as positive or negative numbers. Positive odds indicate how much https://ggo99.com/ profit you would make on a $100 bet. If the odds are +200, a $100 bet would yield a $200 profit. Negative odds show how much you need to bet to win $100. For instance, -150 means you need to wager $150 to make a $100 profit.
To determine the implied probability of an outcome, convert the odds into a percentage. For decimal odds, divide 1 by the odds and multiply by 100. For fractional odds, divide the denominator by the sum of both numbers and multiply by 100. For American odds, use different formulas depending on whether they are positive or negative. If the odds are positive, divide 100 by the odds plus 100, then multiply by 100. If they are negative, divide the absolute value of the odds by the absolute value of the odds plus 100, then multiply by 100.
Knowing how to calculate odds allows you to evaluate betting opportunities and compare them across different sportsbooks. By understanding the potential return and probability of an event, you can make better choices and increase your chances of winning.