//www.googleadservices.com/pagead/conversion/871983995/?label=LATbCN6Z2G8Q-9blnwM&guid=ON&script=0

Betting Odds explained

What are odds?

Odds are a way of showing how likely something is to happen and how much you'll win if it does happen.

How are odds shown?

what-are-the-odds

Odds can be shown in different ways. In betting, the main forms of odds you'll see are:

Fractional odds - eg 7-1
Decimal odds - eg 11.0

American odds - eg +120 (used by American sportsbooks)
Percentage odds - eg 25% (shown as payouts in casino games)


To explain odds, we'll answer the two most important questions

How much will I win? AND What are the chances of it happening?

How much will I win?

Decimal odds

decimal odds

Decimal odds are the favoured method of displaying odds on betting exchanges such as betfair. With decimal odds, things are simpler as the figure quoted is the payout per unit staked. For example, for a £100 bet at Betfair,

7.0 pays out £700 (7.0 x £100 staked)
4.1 pays out £410 (4.1 x £100)
1.2 pays out £120 (1.2 x £100)

Remember, though, the great thing about Betfair is that it's an exchange (see our guide to betting exchanges). As such, Betfair are not an ordinary bookmaker - they don't set the odds. They allow bettors to choose whether to back or lay on an event, so you're effectively trying to outwit other punters. Great fun and very profitable if you know what you're doing. To help you get familiar with the exchange, they'll give you free £25 bet when you open your account.

Fractional odds

fractional odds

Fractional odds are shown as A-B or A/B ie 'For every B units you bet, you will win A units' (We'll call A the 'return' and B the 'stake') eg

3-1 : every 1 unit you stake will return 3 units
7-2 : every 2 units you stake will return 7 units
9-4 : every 4 units you stake will return 9 units.

Your stake is returned with your winnings, so your payout (ie the money you're given) is A / B x stake + stake

eg if you bet £100 on a horse whose odds are 9-4, your overall payout on a winning bet is 9 / 4 x 100 + 100 = £325

You'll sometimes hear of an 'Odds on' favourite. What this means is that the event is so likely to happen that the bookies have set the odds so that the return is less than the stake.

For example:

1-2 (or 2-1 ON) means you get 1 unit for every 2 staked
2-7 (or 7-2 ON) means you get 2 units for every 7 staked

Don't forget, though, that your original bet is still returned, so you still win overall.

Eg a £100 bet on a horse at 1-2 pays out £150 (1 / 2 x 100 + 100).

American odds

american odds

American sportsbooks have a slightly different way of showing odds, which is known as a moneyline. It's very often used in NFL matches, for example, where one team is the favourite and one is the underdog. For example, you may see the following betting options for a match:

Chicago Bears -140
Dallas Cowboys +110

Moneyline odds are shown in two ways - the favourite as a negative number, the underdog as a positive.

If the figure quoted is positive, the odds show how much you'd win on a $100 wager. Positive numbers are the same as Odds Against.

If the figure quoted is negative, the odds show how much you'd need to wager in order to win $100. Negative numbers are the same as Odds On.

For a comparison of moneyline odds versus fractional and decimal, see the table below.

Percentage odds

percentage odds

Percentage odds are an accurate way of showing how likely something is to happen (see below).

Asian sportsbooks such as 138 will use probability when quoting sports betting odds, but you'll most likely come across percentage odds when playing at casinos.

Casinos use percentages to show the odds of individual bets in a game, plus the overall payout rate for the casino. The closer the payout is to 100%, the more likely you are to win.

Casino Guide

Why to play online casino

Why to play online casino

Why to play online casino Gambling online has become increasingly popular since the internet began...
Types of Online Casino Bonuses

Types of Online Casino Bonuses

Types of Online Casino Bonuses We at findfreebet.com will explain the various types of bonuses you...
Online Casino Banking

Online Casino Banking

Online Casino Banking There are various banking methods available to use at online casinos – you...
Flash or Download Online Casino?

Flash or Download Online Casino?

Flash or Download Online Casino If you are new to online casinos, you will see there are 2 options...

Betting School

Sure Bets

Sure Bets

Sure Bets There is no such thing in the world you may say but there is. A sure bet or a risk free bet is a bet,...
What is betting exchange?

What is betting exchange?

What is betting exchange An exchange is a betting website where punters bet against each other. Punters are able...
Betting Odds explained

Betting Odds explained

Betting Odds explained What are odds? Odds are a way of showing how likely something is to happen and how much...
Live Betting explained

Live Betting explained

Live Betting explained What is Live Betting? Live Betting or In play betting is the fastest growing betting medium...

facebook-20x20 twitter-20x20 Google-plus-20x20 youtube-20x20

Top of Page