How to read odds

Odds represent the likelihood of an event occurring and are commonly used in gambling, betting, and probability discussions. There are three main formats for odds: fractional odds, decimal odds, and moneyline odds. Here's how to interpret them:


1. Fractional Odds (e.g., 5/1, 3/2):

  • How to read:
    • The first number (numerator) is how much you can win relative to your stake.
    • The second number (denominator) is your stake.
  • Example:
    • 5/1: For every $1 you bet, you win $5 (plus your original stake back, for a total of $6).
    • 3/2: For every $2 you bet, you win $3.
  • Calculation of implied probability: this is picture

2. Decimal Odds (e.g., 6.00, 2.50):

  • How to read:

    • The number represents the total return (including your stake) for every $1 bet.
  • Example:

    • 6.00: A $1 bet returns $6 (profit = $5).
    • 2.50: A $1 bet returns $2.50 (profit = $1.50).
  • Calculation of implied probability:

    this is picture


3. Moneyline Odds (e.g., +200, -150):

  • Positive odds (+): Represent how much profit you'd make on a $100 bet.
  • Negative odds (-): Represent how much you need to bet to win $100.
  • Examples:
    • +200: A $100 bet returns $200 in profit (total payout = $300).
    • -150: You need to bet $150 to win $100 (total payout = $250).
  • Calculation of implied probability: this is picture

Comparison Table

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| Odds Format | Example | Implied Probability | Profit on $10 Stake | Total Payout on $10 Stake | |--------------|---------------|---------------------|---------------------|---------------------------| | Fractional | 5/1 | 16.7% | $50 | $60 | | Decimal | 6.00 | 16.7% | $50 | $60 | | Moneyline | +500 | 16.7% | $50 | $60 |


If you're betting or analyzing probabilities, understanding these formats ensures you're making informed decisions. Let me know if you'd like more help with examples or calculations!

Push
= tie, draw
Oddsmaker
An oddsmaker is a professional who sets the betting odds for sports events, it can also be a bookmaker
Favourite
In sports betting, the favourite refers to the team that is considered more likely to win the match and typically has lower odds.
Correct Score
It is a type of sports betting where the bettor must accurately predict the exact final score of a match.
Asian Handicap
Asian Handicap is a form of sports betting where the bookmaker handicaps the stronger team by deducting points or giving the weaker team a head start to even out the chances of winning, thus balancing the odds.
Draw
In a game or competition, a "draw" means that both sides have an equal score or outcome, resulting in neither side winning or losing, which is equivalent to a "tie."
over/under
also known as a totals bet, is a wager on whether the combined total score of both teams in a game will be higher (over) or lower (under) than a predetermined number set by the sportsbook.
Full Time
Full Time refers to the entire duration of a sports match, including both halves and any additional time.
Handicap
In sports betting, a handicap is a virtual advantage or disadvantage given to one of the teams to even out the chances of winning, where the stronger team gives up points and the weaker team gains points, making the odds more balanced and fair.
Betting slip
a document that records the details of your wager placed on a sporting event in sports betting.