Once you have found a match or event you are interested in, you can open it to view all the possible “bet markets” (learn more about markets further down) available for you to bet on.
what IS odds?
Odds (plural) are a reflection of the probability of an outcome in a tournament, sports match or any other betting event that the bookmaker provides odds for. In any such event, every outcome has a certain likelihood of happening. Odds are an interpretation of those chances. A bookmaker will form odds or prices to reflect those chances.
Types of odds
The odds on screen look strange, I’m used to seeing other odds? Most online bookmakers give you the option of which type of odds you want to use. The odds can be displayed in three most popular ways: types of odds.
- Decimal format
- Fractional format
- American format
On the sports betting page of your choice, simply select the drop down menu to choose the odds display that you feel most comfortable with.
Decimal odds are most commonly used throughout mainland Europe and are also commonly known as ‘European odds’.
It’s super easy to understand how decimal odds work and how much you can win if the bet goes your way. Basically, you multiply your stake by the decimal shown and the answer is how much you’ll receive in winnings – including your stake.
For example, if you bet £20 on a wager with the odds 2.00, the payout will be: £20 x 2.00 = £40.
Conveniently, all this information is clearly displayed on the web site, so you do not need to calculate this by yourself.
Odds displayed as fractions or fractional odds show how much you might win when you place your bet, compared to your stake. The very first number in the fraction is showing you, how much you are going to win, if you place the amount shown second. Fractional odds are not that popular abroad, but are most commonly used in the UK.
For example, odds of 2/1 tell you that for every one (1) euro you stake, you will win two (2) euros. If on the other hand you saw the odds 1/3, this indicates that you will need to stake three (3) euros in order to win just a single euro.
For your convenience, the payout is automatically calculated and displayed on the web site, so you will never need to calculate this by yourself.
American odds, sometimes lines or money line odds, are popular in the US. A negative number indicates what you must bet in order to make £100 profit (or equivalent in your chosen currency), while a positive number indicates how much you might profit if you bet $100.
For example, if you bet £110 on a team with American odds of -110 and they win, you will make £100 profit (plus your original £110 stake). If you bet £100 on a team with odds of +120, and they win, this will return £120 profit (plus the original £100 stake).