Betting Tools

Three Type of Betting Odds…

Here is a breakdown and examples on how to convert and understand, the three types of odds used by bookmakers worldwide. At first glance it may look difficult, but it is actually very simple.

FRACTIONAL ODDS: (5/4, 100/30, 9/2, etc.)

At racetracks throughout the U.K. and United States, the odds are commonly given in Fractions on the tote-boards. Example 7-1, 5-2, or 9-2. This is also known as UK Odds. It is too easy to understand and calculate. The mentality is: Profit/Stake

For example, a bookie offers 5/4 for a horse or team to win. Stake 5x to make 4x profit and 5x stake back. Say you bet 100£ on the team to win at 5/4. It means if the team wins, you will have 225£ including the stake. Take a look at the formula below:

Formula: (First Number + Second Number) / Second number

Lets calculate the example above; we staked 100£ on the team.

(5+4)/4= 2.25

As a result, you will get 225£ back for your 100£ stake..

If you see only one number as a fractional odds (like 2, 5, 12, etc.), add 1 into the number and you will have the odds..

For example, a bookie offers 4 for a team to win a game. It means stake 1x to make 4x profit. If you put 100£ on the team and the team you bet wins, you get 500£ back.

4+1=5.00

As a result of, you will get 500£ back for your 100£ stake.

DECIMAL ODDS (1.20, 2.30, 10.00, etc.)

With internet wagering, most punters are most familiar with the easy to understand Decimal odds If a bookmaker offers 2.30 for a horse or team to win. And you bet 100£ on that team at 2.30. If that team wins the game, you get 230£ (including the stake) back. Your profit is 230£ – 100£ = 130£.

On Betfair, you add another decimal to the odds. For example if your horse is going off at 3.30 on Betfair, it is actually 2.30. The extra 1.00 is the amount of your wager, which of course is returned on a winning wager.

To convert Race track or fractional odds to decimal odds, take a look at the conversion chart below. Print out a copy for easy reference.

US ODDS for SPORTS WAGERING (+100, -135, +300, etc.)

US Sports bettors are most familiar with these. There are two types of US Odds such as positive and negative odds. The mentalities are different.

Positive US Odds:

Positive odds may have plus (+) in front of the numbers (such as +100, +135, +300, etc). Suppose a bookmaker offers +150 odds for a team to win the game and you bet 100£ on it. If the team wins, you will get 250£ including your stake. Here the mentality is:

?Stake 100£ to make 150 profit + 100£ stake back? or ?Stake 100£ to make (positive odds number) £ profit + 100£ stake back?

Formula:

Decimal Odds = (Positive US Odds + 100) / 100

Lets calculate the example above; we staked 100£ to win at +150 odds.

( 150 + 100 ) / 100 = 2.50

Negative US Odds:

Negatice odds always have minus (-) in front of the number. Suppose a bookmaker offers -120 for a team to win the game. Here, the mentality is the exact opposite. The mentality is:

?Stake 120£ to make 100£ profit + 120£ stake back? or ?Stake (negative odds number)£ to make 100£ profit + negative odds number)£ stake back?

Formula:

Decimal Odds = (Negative US Odds + 100) / Negative US Odds

Lets calculate the example above; we staked 100£ on the team.

Here we ignore the minus? (-).

( 120 + 100 ) / 120 = 1.83