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What are the odds in sports betting?
What are the odds in sports betting?
Written by KIM
Updated over a week ago

Bookmakers offer different odds formats, We offer 6 different types and you can choose the one you prefer.

1. Euro/ Decimal: The betting odds are represented by a decimal number (1.50, 2,00. 2.50… etc). For example, we stake 0,00001 Btc at 2,00 odds. The total payout will be 0,00002 btc.

2. Fractional: Is more common in British and Irish bookmakers. 22/5 odds means that you win 22 against every 5 you wager. For example, we stake 0,00001 Btc the potential payout would be 0,000044 Btc.

3. American: They are used in North America and can be negative or positive (+/-). The negative odds represent the favorites and the positive the underdogs.

For example: we are going to place a bet on baseball with the following odds.

Houston Astros: -172,414

Based on the bookmarker, Philadelphia has a lower chance to win the game. If we bet 100 on them, the potential win will be 101,41 + the stake amount. Total payout of 201,41.

On the other hand, we need to risk 172,414 to win 100 if we bet on the Houston Astros.

4. Indonesian: They are similar to the American odds, the positive represents the underdogs and the negative the favorites.

We are going to bet on the world cup:

Senegal: +4,6

Netherlands: -1,587

Senegal is listed as the underdog, that means that for each unit bet, we will win -1,587. If we bet 100, our total payout will be 560. But if we place the bet on the Netherlands, we need to risk 158 to win 100.

5. Hong Kong: This is one of the easiest, The odds represent how much profit a bettor will receive for each \$1 wagered. If we stake 1 and the odds are 2,15, the total payout would be 3,2.

6. Malaysian: This one is inverted if we compare it to the American odds. The positive are the favorites and the negative are the underdogs.

If we bet on the world cup:

England: +0,32

Iran: -0,111

England is the favorite one, if we bet \$1 at +0,32 odds, the math would be 1*0,32=0,32 + the stake amount, the total payout will be 1,32.

If we place a bet on Iran, the math will be \$1/0,111=9,00 + the stake amount. The total payout would be 10.

All Odds are convertible to each other and value will not change. No matter the format used, the probability is always the same. Although decimals are the most popular, You can try them all and choose the one you like best.

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