If you're a newbie to the worldwide of sports wagering, you might be surprised to see the chances or odds displayed in a non-traditional format. However once you read our guide on how to understand betting odds you should see things in a much clearer light.
Apart from the European odds which are most common, there are two other basic odds formats you need to comprehend. There's the American Odds or (Moneyline), and the fractional (UK Odds).
The American odds prevail for the American market– you can most likely think where the other two formats are popular.
Below you'll see examples for each odds format and comprehend them better.
Moneyline (American) Odds
The American odds format is without a doubt the most confusing for UK punters.
Punters from the UK and Europe have a difficult time comprehending the line format utilized by Moneyline odds which work completely on American sports such as the NFL.
These odds are displayed in a format of +250 or -110.
The + and– symbols in front of the chances suggest whether a group is a favourite or underdog.
The favourites are shown by the – sign.
For instance, banking on a group with chances of -110 shows how much cash you need to invest in the wager to win ₤ 100.
A ₤ 110 bet on the team with those chances yields jackpots of ₤ 100, however you likewise get the original stake back, earning a total of $₤ 10.
When it concerns the underdog chances (+ sign), they suggest how much cash you can win if you bet ₤ 100.
To put things into point of view, a ₤ 100 bet on +240 odds implies you can win an overall of ₤ 340 (₤ 100 to win ₤ 240 + the initial stake).
There's a third sign related to Moneyline chances – PK. It's short for Pick and indicates that neither group is a preferred or underdog.
The most popular chances across Europe are quite merely the easiest ones, although one could argue about Moneyline odds being even easier.
The decimal format (e.g. 1.60) shows the amount you make money out if your selection is a winner.
For instance, if you put a bet of ₤ 100 on chances of 1.60, you will get a payment of ₤ 160 (₤ 100 x 1.60).
It's a pretty easy odds format particularly if you're from Europe.
Decimal chances are similar to fractional chances we'll be covering below– they equal the decimal value of the fractional odds plus 1.
Although they might look made complex to new punters, fractional (UK) odds are pretty simple to comprehend. They are displayed in a format of 1/5 or 5/1. The first number is the number of units you get if you wager the 2nd.
For example, wagering ₤ 20 on a horse to win the race at odds of 5/1 ways you'll be getting a payment of x 5 (₤ 20 x 5 = ₤ 100).
If you bet ₤ 20 on odds of 1/5, nevertheless, you'll get ₤ 1 for every single ₤ 5 you bet.
For instance, if you bet ₤ 5, you just get ₤ 6 in return– not extremely profitable.
These are the easiest examples of banking on fractional chances– let's see how it chooses more complex fractional odds.
Odds of 2/4 Explained
If we transform odds of 2/4 to decimal chances, you get a result of 1.50 (-200 in Moneyline odds). For every 4 systems you bet, you get 2 in return if you anticipate correctly.
Let's try an example. You wager ₤ 10 on Manchester United to beat Newcastle– the odds are 2/4. The quantity you get if United wins is ₤ 15.
The overall earnings you've made on this bet is ₤ 5, but you also get your initial stake as well which is ₤ 10– that brings us to ₤ 15.
Odds of 7/5 Explained
Fractional chances of 7/5 show that you will get 7 units for each 5 you wager. That's 12 in total– if you convert these chances to decimal, you get 2.40.
If we utilize the abovementioned example, putting a ₤ 10 bet on 7/5 odds brings you to a total return of ₤ 24.
That's a profit of ₤ 14 and the preliminary stake ₤ 10 returned. Unless it's a close match, chances of 7/5 typically suggest a slight underdog.
Odds of 11/2 Explained
Moving further on in underdog area, banking on odds of 11/2 methods you'll be getting a hefty 11 returned when you bet just 2. These chances are normally readily available on long shots since you make a decent profit should you get the prediction right.
Bet ₤ 10 on 11/2 odds and you'll make a profit of ₤ 55 for a total return of ₤ 65.
The odds of 11/2 are a far cry from the two previous examples. So tread (or should we state wager?) with caution.
Odds of 6/4 Explained
To understand betting odds of 6/4 sit simply above 7/5 in the pecking order. “Translated” to decimal odds you get a likelihood of 2.50.
Utilizing the abovementioned example, a ₤ 10 bet on Manchester United to win versus Newcastle at odds of 6/4 would bring you to an overall return of ₤ 25.
The revenue is ₤ 15 and you likewise get your initial stake returned.
As you can see, fractional odds are not that hard to understand. UK punters understand them by heart and other punters from around the world typically use them to bank on horse racing. Now that you know how they work, you should not be amazed to see them more often. Betting on fractional chances is more enjoyable if you ask us and that's what betting need to represent.