For a bettor just getting started in sports wagering online, the betting board can sometimes look like it is in a different language. The team names are familiar, but the string of numbers following those team names can be quite foreign. And even if you are familiar and comfortable with your country’s odds format, seeing a page of sports betting odds in a different format can send you right back into that state of confusion.
Virtually all sports wagers offered come in one of three formats; American odds, fractional odds, and decimal odds. Once you are familiar with these three formats, you will never have to deal with confusion at the betting board again.
What are American Odds?
The most common odds format that bettors in North America will come across are American odds. These are sports betting odds are listed as numbers with a plus symbol (+) or a minus symbol (-) in front of them.
For example, let’s say you are considering a bet on the Minnesota Twins vs. Detroit Tigers game. The sports betting odds on this game night be listed as follows: Minnesota Twins (+120) vs. Detroit Tigers (-140).
Let’s start with a bet on the Detroit Tigers. The “-” indicates that you will need to lay the designated amount to win $100. So in this instance, at -140, a bet of $140 is required to earn a profit of $100. No matter how much you bet on this game, the payout ratio will stay the same. So at -140, a bet of $14 would pay $10 in winnings, a bet of $70 would pay $50 and a bet of $420 would pay $300.
If the Tigers were going off at -200, this would indicate that you had to bet $200 to win $100, or $40 to win $20, $900 to win $450, etc. The number after the “-” is always what you need to bet to win $100 but it applies to any bet size.
You might see a number with a “+” in front of it. This means that you will win a profit of the number indicated if you were to wager $100. So at +120, a successful wager of $100 would win you $120. A wager of $50 at +120 would earn a payout of $60, and a wager of $200 would earn a payout of $240.
What is the Objective for American Odds?
Sports betting odds vary greatly from event to event. Standard point spread wagers on football and basketball usually list both sides at matching odds of -110 (bet $110 to win $100). A lopsided boxing match might have the favorite listed at -6,500 (bet $6,500 to win $100) and the underdog listed at +2,500 (bet $100 to win $2,500). No matter how big or small these numbers are, the same rules on how they work still apply to any bet size.
When it comes to American odds, you are always solving for what your PROFIT will be. So when you wager $110 to win $100 and win, you are going to get your $110 back and then $100 in addition to that. Similarly, a bet of $50 to win $200 on a +400 side will get you your $50 back. You will also get another $200 in winnings. This is an important distinction to make as it is a different style than decimal odds. This is covered in the next section.
What are Decimal Odds?
Decimal odds perform the same function as American odds. They list the odds on each side of the wager to let bettors determine the price they will be getting on their bet. This format is used in most parts of the world outside of North America. They are quite useful once you know how to read them.
Let’s use the example from the previous section again. The Minnesota Twins are a +120 underdog visiting the Detroit Tigers, who are a -140 favorite. When read with decimal odds, this game would be listed as Minnesota Twins (2.2) vs. Detroit Tigers (1.7143).
This may look confusing to bettors that are accustomed to American odds. But from a functionality perspective, decimal odds are arguably easier to use. All you have to do is multiply the amount you want to wager and the listed decimal and you will get the total payout of your wager. Keep in mind that the number that comes out after you multiply is the TOTAL payout. This includes your original wager amount. This differs from American odds that only give you your profit.
Putting the above example into action, let’s say you want to wager $100 on the Minnesota Twins. $100 multiplied by 2.2 = $220. This means that when you win, you will receive $220; your original $100 back, plus an additional $120 of profit. This works out to the exact same winnings as “+120” in American odds.
Similarly, a bet of $140 at 1.7143 would be $140 x 1.7143 = $240, netting you a profit of $100 and your $140 as a -140 wager does. The odds on the game don’t change regardless of which format you use. Only the way that you read them does.
What is an Advantage for Decimal Odds?
The advantage to decimal odds over American odds is the lack of an additional step when solving for amounts that aren’t based around a $100 wager. If you want to wager $60, figuring out what that will pay at -140 without computer assistance would require some additional math. You would need to find the decimal by dividing 140 into 100 to get .7143, and then multiply that by 60.
With decimal odds, solving for the decimal is already done for you. $60 x 1.7143 = $102.86, which comes out to a profit of $102.86 – $60 = $42.86.
What are Fractional Odds?
The last format that odds are listed in are fractional odds, also known as UK odds. Popular in England, this format lists each side of the wager in the form of a fraction.
In the case of the Minnesota Twins (+120) vs. Detroit Tigers (-140) game, fractional odds would list this game as Minnesota Twins (6/5) vs. Detroit Tigers (5/7).
The key to remember when reading fractional odds is that the first number represents “how much you will win”. The second number represents “how much you must risk to win that amount”. When betting on Minnesota, you are getting paid at 6 to 5, meaning you must risk $5 to win $6. So on a $50 wager, you would win $60, or on a $100 wager you would win $120. A bet on Detroit would require a risk of $7 to win $5, or $140 to win $100.
Once again, the sports betting odds on the game remain the same, only the format changes. And you can break this down into a decimal by simply dividing the bottom number from the top number. Odds of 6/5 can be broken down as 6 divided by 5 = 1.2, while 5/7 would break down to .7143. You could then multiply your wager amount by that decimal to determine what your total profit will be.
Another way to do this math is to multiply the amount you want to bet by the top number. Then, divide by the bottom number. So for a $100 bet at 6/5, $100 x 6 = $600, $600 divided by 5 is $120, which will be your payout.
What Odds are Fractional Odds Most Similar To?
Like American odds, fractional odds list what your PROFIT on the wager will be, not the TOTAL amount you will be paid like decimal odds do. England and some other European sportsbooks list everything in fractional form. Future odds are often listed in this format, even at North American sportsbooks.
A team going off at 10/1 to win the championship can be listed at 10/1 using fractional odds, +1000 using American odds and 11.0 using decimal odds.
Which Sports Betting Odds you are Most Comfortable With?
Fortunately, online sportsbook takes a lot of this math work out of the process for you. They instantly show you what wagers will pay or how much you will have to risk when you put numbers into your live betting slip. Still, knowing how the math behind these automatic calculations work is good knowledge to have in the long run, especially if you are away from the internet or in a foreign country that uses a format you were previously unfamiliar with.
Most bettors feel most comfortable with the odds format that they learned first. They might have an attachment and understanding of this format. Others change their mind when introduced to the other formats based on their own personal preferences. It all depends on how their brains process the numbers. Everyone is different. Now that you have an understanding of all of these formats, you can decide which one works best for you.
Sign in to your sportsbook account. You can choose American odds, decimal odds or fractional odds as your preferred format. Click on settings from your account page. A drop-down menu will allow you to select from these three options. This can always be changed with just a few clicks. Pick whichever sports betting odds you understand the most.