In the world of sports betting, seeing different types of odds can be confusing and frustrating if it is not an odds format you are accustomed to. In the below will be highlighted the three most popular odds formats and how they work.
American odds or Moneyline odds are mainly popular in the United States but will be seen in a few available sportsbooks. American odds are one of the few odds formats which have different odds calculations for a favourite or underdog team. While this does seem complicated, it is actually quite simple to understand. The first main point to know is that favourites are always denoted with a negative number (-200) and underdogs are always denoted with a positive number (+200).
- + number – the positive number denotes how much would be won if $100 was placed on that bet.
- – number – the negative number denotes how much would need to be bet in order to win $100.
Example: New England Patriots: -253
Minnesota Vikings: +278
In this example if you were to place $50 on the New England Patriots, you would stand to win $20 excluding your initial bet which would be paid back as well. If you were to place $50 on Minnesota Vikings, you would stand to win $139.
Note that American Odds payout does not include your initial bet. When calculating the formula mentioned above, the result will only be profit. For a final payout amount, plus the profit and your initial bet.
Unlike In American odds, these odds are presented the same whether the team is the favourite or underdog. The normal odds formula is (potential winning)/(amount staked) so if we were to place $100 on a 4/1 bet, the winning payout would be $400.
Example: Chelsea F.C. – 61/50
Arsenal F.C. – 50/71
If we were to place $20 on Chelsea, the calculation would be [$20 X (61/50)] Our profit would be $24.40.
Note that fractional odds payout does not include your initial bet. When calculating the formula mentioned above, the result will only be profit. For a final payout amount, plus the profit and your initial bet.
A world favourite and it makes sense why. Decimal odds are the easiest form of odds to understand with no variation between positive and negative, also including the original wagered amount. Decimal odds will present themselves in a decimal form like 2.53 or 1.07. The way we calculate these odds is simple. Your staked amount times the decimal number will be the final payout after a successful bet.
Example: South Africa Springboks – 1.5
Australian Wallabies – 2.4
If we were to place a $30 Wager on the Springboks, the formula would be $30 × 1.5 resulting in a payout of $45. The same formula stands true for every decimal odds bet available.
Note that decimal odds do include the initial stake when calculating https://australiansportsbetting.net/financial/ profit. The number you receive after doing the above calculation will be the full payout.