As you begin your journey into sports betting, it is essential to understand the different formats of odds. Understanding how odds are expressed can make all the difference when it comes to making informed decisions and making a profit. In this article, we will explore the three most common formats of odds: decimal, fractional and American.  

Decimal Odds 

Decimal probabilities are widely used, especially in Europe and Australia. In this format, the odds are expressed in decimal numbers, representing the total amount you will receive if your bet is a winner, including the amount wagered. 

For example, if the decimal odd is 2.50 and you bet £100, your total return is £250 (£100 bet + £150 profit). To calculate profit in decimal odds, simply multiply the odd by the amount bet and subtract the amount bet from the result. 

Fractional Odds 

Fractional odds are common in the UK and Ireland. In this format, the odds are expressed as fractions, where the numerator represents the amount you will win and the denominator indicates the amount bet. 

For example, if the fractional odd is 3/1 and you bet £50, your total return is £150 (£50 bet + £100 profit). The profit in fractional odds is calculated by multiplying the amount wagered by the numerator of the fraction and dividing by the denominator. 

American Odds 

American odds are widely used in the United States and other markets. In this format, there are two types of odds: positive and negative. 

Positive odds indicate the profit you will make for each $100 bet. For example, if the odd is +200 and you bet $100, your profit will be $200. 

Negative odds, on the other hand, indicate the amount you need to bet in order to make a £100 profit. For example, if the odd is -150, you will need to bet £150 to make a £100 profit. 

Comparison of Odds Formats 

In this example table, we present a comparison of decimal, fractional and American odds formats. We note how the amount wagered, total return and profit vary with each format.

Remember that the BetGoals website is the ideal platform to put your knowledge into practice, offering a variety of markets and opportunities to bet with confidence. Access BetGoals right now and take advantage of all the benefits available for your sports betting! 

Frequently Asked Questions 

Which odds format is most common in sports betting?  

The most common odds formats in sports betting vary by region. In Europe and Australia, decimal odds are widely used. In the UK and Ireland, fractional odds are more popular.  

How to convert odds from one format to another?  

To convert probabilities from one format to another, there are specific formulas. For example, to convert decimal odds to fractional, you can use the following formula: fraction = (decimal odd - 1) / 1. To convert US odds to decimal, you can use the formula: decimal odd = (100 / odd value) + 1. 

What is the easiest to understand odds format for beginners?  

The easiest to understand odds format for beginners varies from person to person. Some may prefer decimal odds due to their simplicity, while others may feel more comfortable with fractional odds.  

Does the BetGoals website offer all odds formats? Yes, the BetGoals website offers all odds formats: decimal, fractional and American. This allows users to choose their preferred format when placing their bets.