Understanding betting odds is crucial for successful sports betting. Here’s a comprehensive guide to help you grasp the basics:
1. Fractional Odds
Fractional odds are popular in the UK and Ireland. They are expressed as a fraction, such as 5/1, indicating the potential profit relative to the stake.
2. Decimal Odds
Decimal odds are commonly used in Europe and Australia. They represent the total payout, including the stake. For example, odds of 3.00 mean a $100 bet would return $300.
3. American Odds
American odds are used in the United States and are expressed as positive or negative numbers. Positive odds show the potential profit on a $100 bet, while negative odds show the amount needed to bet to win $100.
4. Implied Probability
Implied probability is the likelihood of an event occurring as suggested by the odds. It is calculated by converting the odds into a percentage.
| Odds Type | Example | Description |
|---|---|---|
| Fractional | 5/1 | Potential profit relative to stake |
| Decimal | 3.00 | Total payout including stake |
| American | +200 | Potential profit on a $100 bet |
