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Betting Odds - Types and Calculations
If you're looking to bet on the outcome of a game between two teams, the first thing you want to be aware of is the amount you could win if you correctly predicted the outcome. In fact, the first thing that the bookmaker will show you is the odds as they are just that - numbers that will tell you how much you will get if you win the bet. But, even though they're all an identical amount, you will not see a similar amount at various sportsbooks because each one adopts a certain method of specifying the odds. This article explains the various types of betting odds specifications and the method of calculating the potential gains in each case.

There are three types of odds specification: Fractional odds, also known as UK odds and Decimal odds which are also known as European odds. Due to their precise description of the scenario they are the Decimal formats are seen as the preferred method for defining odds. The goal of odds specifications, in whatever form they are given is to connect the amount of money bets a gambler makes to the amount he/she wins. For this purpose, one has to know three terms that are stakes, winnings and pay-outs. Stakes are the amount that is bet. Winnings refers to the amount that is won when a bet is placed. games online -outs, on other hand, refer to the sum of money that is payed after a bet been placed. Pay-outs represent the sum of winnings and stakes. These terminologies might seem insignificant however, they are the heart and soul of any odds calculations.

It is also important to know three additional terms that relate to the strengths of teams in a match: they are Odds, the Odds On, and the Odds against. Evens refer to situations where the two teams are equally strong and there is no winner or loser; you place a bet of $1 and make $1, provided that there are no commissions involved. Odds-on is the odds of the favorite and in this instance, winnings are less than the stakes. Odds-against is that of the underdog, in which the wins are typically higher than stakes. For evens odds (the most commonly used type of sports betting) odds are allocated to both sides. They'll be 1.90 in decimal odds, 9.10 in fraction and -111 American odds. These odds are the same, "bet one dollar for 90 cents". In fact, if there were no commission involved or if the betting was just among friends, the odds would be 2.0 1/1, 1.0, and 100, respectively depending on the three kinds of odds. They mean "bet one dollar and win one dollar".

Decimal Odds (European).

These are simply factors that indicate how-many-times-the-stake will the pay-out be. If the odds are 2.50 which means the pay-out will be double as large than the stake. For each dollar bet, the payout will be $2.50.

Pay-out = stake * Decimal Odds
Winning = stake * (Decimal Odds-1)


Fractional Odds (UK).

The fractions show that a stake that is that is equal to the denominator will result in a winning equivalent to the number. For instance, odds of 10/11 mean that 10 units can be won when you stake 11 units. For each $11 wagered, the winning will be worth $10.

Winning = Stake * Fraction Odds
Pay-out = stake * (Fraction Odds Plus 1)


American Odds (US).
American odds are denoted by numbers that are always greater than or equal to 100 , followed by a '+' or '"-" sign. These signs are not mathematical symbols; they are simply symbols that indicate whether your winnings are higher than or lesser than the stakes. The positive sign is used to signify the underdog when the winnings are more than stakes or an odds-against bet; while the negative sign indicates the odds-on or favorites betting. The two odds have totally different definitions and thus use calculations that are unrelated.

Negative odds represent the amount of money you need to bet to win $100. For example odds of -110 means that to win $100, the bet must be at least $110.

Winning = 100/negative American Odds
Pay-out = Stake (100/negative American Odds + 1)

If $100 is wagered, the odds of winning are positive. If $100 is wagered, odds of +110 indicate that $110 is the prize.

Winning = stake * positive American Odds/100
Pay-out = Stake (positive American Odds/100 + 1)

A few outstanding aspects of these chances.

Decimal odds are always more than 1.0 because '1' is the stake.
best 2 player games are always greater than or equal 100 (remember that the letters + and - are not mathematical signs).
American and fractional odds are indicators of winnings. Decimal odds show payouts.

If you win exactly the same amount of money as the stake you placed, that is called even odds. Therefore, even odds are expressed as 2.0 in decimal, 1/1 in fractional odds, and by 100 in US odds(-100 and +100 are the same).
The odds-on decimal odds are those in which winnings outweigh stakes. This is usually the scenario when a favorite team is able to win a large amount of games . In fraction odds, they can be distinguished by the fact that the numerator (winning) is lower than the denominator (the stake) In US odds, they are negative odds.
If there's an odds-against circumstance where winnings are greater than stakes and stakes, then the decimal odds are higher than 2.0. The numerator of fraction odds is greater than the denominator. These are the US odds.



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