Reading odds and understanding them is vital for the bet on sports events. Because the odds will narrate you what will occur in that sports approximate results. You will also get the ideas of how much will be paid out if you win the bet. Sportsbooks display odds severally (depends on sports and the location – you are betting). So it absolute topic to know – How to read odds?

How to Read Odds? | Beginners Guide in 2020

Let’s go for the details.

WHAT ARE ODDS?

First, you need to have the basic knowledge about what are odds before how to read odds?

There are a lot of strange-looking numbers next to team names and player names at sportsbooks. These are the odds, and they come in a variety of forms (American odds, fractional odds, and decimals odds). What they do have in common is that they always indicate two things: the implied probability of the outcome they’re attached to (according to the sportsbook), and how much money you stand to win by betting on that same outcome.

Fractional oddsDecimal odds3.00
Decimal oddsFractional odds 2/1
American oddsAmerican odds +200
hong kongHong Kong odds1.2*
IndonesiaIndonesian odds1.2*
MalaysianMalaysia odds-0.834

Each of the odds above represents a 33.33% implied probability, just displayed in a different format.

No matter what type of odds you’re looking at, they all represent the same thing and make absolutely no difference in terms of your payout. Think about it like the imperial (American) measurement system versus the metric system.

HOW DO YOU READ ODDS?

Sports odds come in three formats. American odds are used stateside, while fractional and decimal odds are popular in Canada, the United Kingdom, and Continental Europe.

How to Read  Decimal Odds?

Decimal odds are mainly popular in Europe, Australia, and Canada. That’s why it is also indicated as European odds in the UK. Decimal odds are used in almost all online sportsbooks.

Decimal odds are like 1.50, 2.00, 2.50,  and so on. The odds show how much you would win for every $1 you bet.

A $100 bet on 2.00 odds would net you a $100 profit. The closer to 1.00 decimal odds is (1.00 would be 100%), the bigger the favorite.

Example,

Reading Decimal Odds - Example 1

Reading Decimal Odds – Example

England vs New Zealand
EnglandNew Zealand
2.0 odd
1.5 odd
You bet $100 on the England Cricket Team.
England win the match
You Win $200 (2.0×100=200)
Total Payout $200 by Decimal odds

Example,

Reading Decimal Odds - Example 2

Reading Decimal Odds – Example

India vs West Indies
IndiaWest Indies
1.50 odd
2.50 odd
You Bet $50 on West Indies
West Indies win the match
You Win $125 (2.5×50=125)
Total Payout $125 by Decimal odds

How to Read Fractional Odds?

Fractional odds are also known as British odds, UK odds or Traditional odds. The odds are like 1/1, 2/1, 3/1. Fractional odds represent the ratio of the amount you stand to win (your profit) to your initial bet.

As with decimal odds, the closer to 1 the ratio is, the bigger the favorite, and the smaller the payout.

Example,

Reading Fractional Odds - Example 1

Reading Fractional Odds – Example

England vs New Zealand
EnglandNew Zealand
5/1 odd
1/5 odd
You Bet $20 on England
England win the match
You Win $100 (20 x 5=100)
You also get your $20 bet back
Total Payout $120 by Fractional odds

Example,

Reading Fractional Odds - Example 2

Reading Fractional Odds – Example

India vs West Indies
IndiaWest Indies
5/1 odd
20/1 odd
You Bet $50 on West Indies
West Indies win the match
You Win $1,000 (20 x 50=1000)
You also get your $50 bet back
Total Payout $1,050 by Fractional odds

How to Read American Odds?

By the name, you can understand that the American odds are popular in the United States. These odds work severally for favorites and underdogs. American odds also is known as ‘Moneyline odds’.

Whenever you see three numbers with either a “+” or a “-‘ you know you are dealing with American odds. This number represents either how much you’d win if you placed a $100 bet (if the odds are +) or how much you’d have to bet to win $100 (if the odds are –).

In addition,

  • Underdog (odds that start with +): odds are the amount you would win if you bet 100
  • Favourite (odds that start with -): odds are the amount you need to stake to win 100

For example,

  • if you see +110 odds, that means that you’d win $110 on a $100 bet
  • If you see -110 odds, that means you’d have to bet $110 to win $100,

Example,

Reading American Odds - Example: Underdog

Reading American Odds – Example: Underdog

India vs West Indies
IndiaWest Indies
+110 odd
-110 odd
You Bet $100 on India (Underdog)
India win the match
You Win $110
Payout $110 by American odds

Example,

Reading American Odds - Example: Favorite

Reading Fractional Odds – Example: Favorite

England vs New Zealand
EnglandNew Zealand
+110 odd
-110 odd
You pick New Zealand (Favorite). You have to pay $110   
New Zealand win the match
You Win $100 
Payout $100 by American odds

Other conditions Like,

If you see a “+” sign in a two-team game,
  • this signifies the underdog, which represents longer odds, a lower probability of winning, and consequently a larger payout.
  • If you see a “-” it denotes the favorite.
In the case of two “-” numbers,
  • the outcome with odds closer to 0 is the underdog.

How to Read Hong Kong Odds?

Hong Kong Odds are similar to the Decimal Odds. Only difference is the original stake is not included. So, a bet on a match at 2.00 with 100 units would return-

2.00 x 100 (profit of 200) + your 100 stake = 300 total return.

Hong Kong OddsYour StakeYour ProfitTotal Return
1.50100150250
3.00100300400

 

How to Read Indonesian Odds?

The Indonesian odds clearly visualizes the inclusive quantity that has to be fixed to win a unit of 1.00. Meanwhile, Odds of 1.00 will notice you doubling the money of yours as you’d win 1 unit for each 1 unit you bet. On the other hand, for the other price, the outcome of the odds could be different. It could be positive or negative for you. There are absolutely no chances of a win-win situation. If the odd is positive, it will show what proportion you’ll win for each 1 unit installed. Hence, the other side that means negative odds show that what proportion you must need to bet in order to win 1 unit.

The simple formula for Indo odds is:

Positive: Stake x Odds = Profit
Negative: Stake / Odds = Profit

Here’s another way to look at it:

Indonesian OddsYour StakeYour ProfitTotal Return
-2.00200100300
1.00100100200
2.00100200300

How to Read Malaysian Odds?

Malaysian Odds looks like the same odds with a base unit of 1.00 alternative of the 100.00 in American odds. A favorite backed odds-on at -107 in American odd would translate to 0.93 in Malaysian Odd. In Decimal Odds it would be displayed as 1.93, and 93/100 in Fractional Odds.

Malaysian OddsYour StakeYour ProfitTotal Return
0.9310093193
-0.1010010001100

Odds Converter & Stake profit calculator

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American Odds:
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Implied Probability:
Stake ($):

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To Win ($):
Payout ($):
  1. At first, you have to choose between the American Odds, Decimal Odds(european), or, Fractional Odds(UK-based).
  2. Suppose, you have chosen the American odds. Now, please put a number in the box of American odds. For instance, you’ve put +128 in the box of American odds. After that, you’ll see the other odds converts automatically.
  3. Now, place a stake. The amount you want to bet will be placed in the stake box. Suppose, you want to bet $200. So, place this amount on the stake box.
  4. After placing the bet amount in the “stake” box, click the “calculate” option right below.
  5. Then, you’ll find out the winning amount if you win the bet. Moreover, you’ll also see the total amount you’ll get which consists of winning amount and Payout.
  6. You can press the reset button to begin everything or change the data you input previously.

From the above, You can understand that it is so important to know how to read odds? It will help you to bet safely. Also, you can compare the odds before you bet on the various online sportsbooks.