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Betting Odds: Types and Calculations
If you're looking to place a bet on a sporting event between teams A and B, the very first thing you want to know is how much you'd win if correctly predicted the outcome. In reality, the first thing the bookmaker will show you is the odds since they are just that - numbers that tell that you what you'll gain if you win the bet. However, although they all translate to the same amount, you'll not find a consistent number across different sportsbooks since each one adopts a certain method of describing the odds. This article will explain the different types of betting odds specifications and how to calculate anticipated gains for each one.

There are three types of odds specifications: Fractional odds, also called UK odds, and Decimal odds also called European odds. Perhaps because of their correct depiction of the situation they are the Decimal formats are seen as the preferred method for defining odds. The purpose of odds specification, in whatever form they are given, is to relate the value of the money bets by a player on winning to the amount that he or she wins. In order to do this, one has to be familiar with three terminologies: stakes, winnings, and pay-outs. Stakes are the amount of money bet, winnings are the winnings from betting, and pay-outs are the sum of money paid when a bet is won. Pay-outs represent the sum of stakes and winnings. Although these terminologies may seem insignificant, they are the at the heart of odds calculations.

It is also important to be familiar with three other terminologies that refer to the strength of teams in a match: they are Odds, Odds on, and Odds against. Evens are when the two teams are equally strong and there is no favorite or underdog; you put $1 bet to make $1, provided that there are no commissions involved. Odds-on refers to the odds of the favorite and the winnings in this case are less than the stakes. Odds-against refers to the underdog, where winnings will usually be more than stakes. In the most common case of sports betting on an event between two competing players (evens odds), the odds assigned to each will be 1.90 in Decimal odds 9/10 in fraction and -111 in American odds that all are the same "bet one dollar to get 90 cents". The odds, even when there were no commissions or bets between friends, would be 2.0, 1, and 100 for all three kinds. They are "bet one dime to win a dime".

Decimal Odds (European).

These are simply factors that indicate how-many-times-the-stake will the pay-out be. For instance odds of 2.50 mean that the pay-out is two and a half times the stake. That is, for every dollar wagered, the payout will be $2.50.

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


Fractional Odds (UK)

These numbers show that a stake of equal or greater than the numerator will yield a winning sum equal to the numerator. For example odds of 10/11 indicate that 10 units can be won with a stake of 11 units, or for every $11 wagered, the winnings will be worth $10.

Win = Stake * Fraction Odds
Pay-out = Stake * (Fraction Odds + 1)


American Odds (US).
American odds are indicated by numbers higher than 100. These numbers are followed by an "+" or "-" symbol. These symbols are not mathematical symbols, but rather symbolic of your winnings in relation to stakes. The positive symbol can be used to indicate an underdog whose winnings exceed stakes or an odds-against wager The negative sign indicates bets on odds-on or favorites. Both odds are based upon completely different concepts, which is why they employ different calculation methods.

Negative odds show the amount of money you need to bet to win $100. For trends of -110 indicate that to win $100, the bet must be at least $110.


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

Positive odds indicate how much winnings will be when $100 is bet. If $100 is bet and odds of +110 are present, this means that $110 will be won.

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

Some outstanding features of these opportunities.

Decimal odds are always higher than 1.0, since "1" is the stake.
look at here now are always higher than or equal to 100 (recall that + and - are symbolisms, not mathematical symbols).
American and fractional odds are indicators of the amount you will win. Decimal odds are a sign of payouts.
Even odds, with regard to fair bets, are when you earn exactly the same amount of money as the stake. Even odds are represented by 2.0 in decimal, 1/1 in fractional odds and 100 in US odds (-100 and +100 are identical).
In the event of odds-on which is when the stakes are lower than winnings, which is normally the case for a favourite team the decimal odds range between 1.0 and 2.0. In fraction odds they are distinguished by the factor that the numerator (winning) is lower than the denominator (the stake) and in US odds they are the negative odds.
In the case of odds-against that is, when winnings are greater than stakes, as is typically the case for teams that are underdogs the decimal odds will be higher than 2.0 The numerator will be higher than the denominator in fraction odds. These are the positive odds for US odds.



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