With fractional odds, you receive your stake back. If you stake £10 on the outcome and it wins, you will receive £20. In decimal terms, this is shown as 2.0 and in moneyline odds it’s +100. This can also be referred to as an ‘Even Money’ bet. They decide that Team A has a 50% chance of winning against Team B.Īs a fraction, this would be expressed as 1/1. The numbers tell you the likelihood of the event happening, and how much you will receive if the bet wins.Īs an example of probability in action, let’s say that a bookmaker is assessing an upcoming football match. In each set of odds, there is implied probability and details of potential payouts. They will do some calculations, come up with a favourite and an outsider, and then they will decide what the exact odds should be. When a sporting event comes up, the odds setters will assess the chances of each possible outcome taking place. In time, and with experience, you may also be able to do the calculations in your head. Just enter one set of odds and they will automatically convert to the other methods. There are many odds conversion sites online. When you sign up with a bookmaker, you will have the opportunity to set the odds that you are more comfortable with. In Moneyline terms, this is shown as +200. The decimal equivalent here would be 3.0. Odds can be shown in three different ways:Ī typical fractional set of odds may be shown as 2/1. In any market, there will be a favourite and an outsider, and the odds are there to illustrate this point. But how, exactly, are they calculated? Basics of Sports Betting OddsĪs mentioned, odds are there to tell us the probability of an event happening. Odds are essential in betting and, everyone involved in the practice, from the bookmaker to the bettor, depends on them. In addition, they tell us how much payout we will receive in the event of a winning bet.

Odds are an indication of the probability of a specific outcome taking place.

In any sports bet, there is a set of odds attached and they are here to tell us two things. Explained: How Betting Odds Are Calculated

How does online betting odds work