A lot of would be bettors complain that they have a tough time understanding sports betting odds. If you have a few minutes to spare in reading this guide, I guarantee you will have a firm understanding of how sports betting odds work.
Sports betting odds are generally displayed in three different kinds of formats that you will see at online sportsbooks, which are the American, decimal, and fraction formats. Some sports betting sites offer switching between the three, making you bet according to your preference, while others only display one kind of format. To help you understand all three, we have an example and a short explanation on each format.
• American Format: New York Yankees -150 vs. Texas Rangers +140
In the American format, the favored team will have negative odds attached to it, while the underdog team will have positive odds. The negative odds is a representation of how much you’ll need to wager to win a $100 profit based on your bet, while the positive odds is a representation of how much you can profit from a $100 wager. Based on our example, bettors would have to bet $150 to win $100 on the Yankees, or they could place $100 on the Rangers to win $140.
• Decimal Format: New York Yankees 1.67 vs. Texas Rangers 2.4
The decimal format is also quite easy to use, and many European sportsbooks use this type of odds exclusively. To find out how much you can make profit from betting using the decimal format, you need to multiply the odds by 100. The product is equal to your total profit, plus your initial wager. For example, if you bet $150 on the Yankees, your computation would be $150 x 100 = 250.5, so you would be able to win a $100 profit. The $250.5 total win includes your initial wager of $150 plus your $100 profit.
• Fraction Format: New York Yankees 4/6 vs. Texas Rangers 7/5
The fraction format isn’t that much used in sports betting anymore, but a few British sportsbooks still use this. To calculate the amount of your winnings, you have to keep in mind that the numerator is your profit and the denominator is the amount you need to wager. In our example, the 4/6 odds on the Yankees means that you need to bet $6 to win $4. If you bet $150 on the Yankees, that’s 25 x 6, you would win $100 on 25 x 4.
As you can see, all the odds format above mean the exact same thing. A $150 bet on the Yankees at all the odds on the different formats will yield a $100 profit because the odds are all the same. Now that you fully understand how Sports betting odds work, you can put it to the test and bet on your favorite teams in your favorite sporting events at one of the biggest and most trusted online sports betting services: Sportsbook.com. They have one of the widest selections of sporting events you can bet on. Sign up and register now.
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