6 4 In Decimal Odds
Posted : admin On 4/7/2022Types of Betting Odds. Betting odds offered by UK bookmakers can be displayed in three distinct ways. Fractional, Decimal and Moneyline also known as American odds. European odds conversion. The most common odds format for European bookmakers is decimal, where a price such as 4.00 represents the equivalent of the 3/1 fractional price. Odds Conversion Table. Convert odds between Fractional, American and Decimal format and see the implied odds at each. Learn how to convert betting odds using our odds conversion formulas. In decimal odds, odds-on selections will be expressed as values between 1.0 and 2.0. Many websites use the decimal format as standard when displaying the prices of sporting events. In fact, decimal odds are commonly used all over Europe. They are popular because they are so easy to understand, displaying the total return from a 1 unit stake.
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Use the calculator below to convert betting odds into any betting odds format.
CONVERT BETTING ODDS
Around the world, there are several methods used to present betting odds. Ultimately they all represent the perceived percentage chance of success, but to the uninitiated the different odds displays can be confusing. Here we break down just what each of the popular methods mean:
Decimal Odds
Decimal odds are widely used around Europe and are the display format of choice for the betting exchanges around the world. They are also incorporated in Asian Handicap betting which is quickly becoming a popular way of gambling on football and other events, and, to many, decimal odds are the most straightforward representation of probabilities. The odds that are presented illustrate the return that you will receive if your bet is successful, to a unit stake of 1. Therefore, if the decimal odds on a football team are 4.50, and you stake £10, the return if the bet goes in would be £45 and the profit would be £35 (4.5 – 1, multiplied by stake).
Any decimal odds that are less than 2.0 indicated that the selection has a more than 50% chance of success, as the outlay is greater than the return. For instance, a bet of £50 on a 1.60 chance would return £80 (£50 stake + £30 profit).
Fractional Odds
Fractional odds have been the choice in the UK for centuries. They are still used today on racecourses, football coupons and betting adverts. To a beginner, fractional odds may seem a little more difficult to grasp that decimal odds.
Examples of fractional odds include 7/4, 4/1, 5/2 and 11/4. In order to obtain ‘the multiplier’, the top number should be divided by the bottom number. For instance 7 divided by 4 gives 1.75. This 1.75 multiplied by your stake will be the profit on the bet, but don’t forget to add on your stake to get the total return.
E.g. £40 is placed on a horse whose odds are 5/2. The horse wins.
Stake: £40
Multiplier: 5 divided by 2 = 2.5
Profit: 2.5 x 40 = £100
Return: Stake (£40) + Profit (£100) = £140
When converting fractional odds to decimal odds, the calculation requires you to add the multiplier + 1 (which acts as the stake). For instance, 6/4 express in decimal odds is 1.5 + 1 = 2.50 (decimals always expressed to two places)
If the number at the bottom of the fractional odds is larger than the number at the top, then the selection is ‘odds on’ – it is deemed to have more than a 50% chance of success. The larger the bottom number compared to the top number, the higher the probability.
Moneyline (US) odds
For some events such as horse racing, US betting sites adopt fractional odds. However for many sports and markets such as American Football, Boxing etc. ‘moneyline’ odds are used. These moneyline odds are generally used for an event with two outcomes.
Moneyline odds are worked out to a bet of $100. If the figure for a team is positive, then it refers to how much profit will be made based on a $100 dollar wager. For example, if the Denver Broncos were available for a match at +120, for every $100 staked, the profit would be $120 and the total return would be $220. Positive odds are used for the outcome which is deemed to be less likely.
A negative figure on the moneyline indicates a betting favourite and indicates how much needs to be staked to win $100. Betting on a Floyd Mayweather fight (where he is always a heavy favourite), punters are likely to see odds of -700 for the undefeated star. This means that $700 will have to be staked to make $100 profit. The total return would be $800.
Even money shots indicate that there is a 50% chance of success and in theory could be expressed as -100 or +100, as ultimately $100 staked at these odds equals $100 profit. Read about US Moneyline odds in more detail.
Hong Kong odds
Hong Kong odds are unsurprisingly adopted by many Asian bookmakers. The odds are fairly simple to work out in format and are a cross between decimal and fractional odds in their presentation, in that they exhibit the net return similar to fractional odds, but are presented in a decimal format.
To understand Hong Kong odds, the punter should assume that they are placing a 1 unit bet on a selection. The odds reflect the profit that will be obtained from striking that bet. Any odds that are less than 1, indicate the bet is ‘odds on’ i.e. has more than a 50% chance of success.
E.g.
6 4 In Decimal Odds Calculator
HK odds of 0.4 = 0.4 units profit for every 1 staked. (Fractional odds of 2/5)
HK odds of 5 = 5 units profit for every 1 staked (Fractional odds of 5/1)
Indonesian odds
Indonesian odds follow the same format as US odds, but just use a different stake to illustrate the probabilities of each outcome. Whereas with US betting odds returns are calculated a stake of 100, in Indonesia, they are calculated to a stake of 1. Again, odds with a – sign before them demonstrate how much is required to be staked to win 1 unit, whilst the + sign is disregarded for the ‘outsider’ bets which show how much profit can be obtained for a 1 unit stake. Read further about Indonesian odds here.
E.g:
Manchester United are playing Newcastle at home. Manchester United are available at Indonesian odds of -3.0 to win the game. This means a 3 unit bet will give a 1 unit profit and total return of 4 unit.
Andy Murray is playing Rafa Nadal in France on a clay court. Murray is available at Indonesian odds of 2.25 to win the match. This means for every 1 unit staked, if Murray wins, 2.25 units will be made in profit, with a return of 3.25.
Even money bets are quoted as 1.00.
Malay odds
Malay odds are effectively the opposite of US odds. They also work on positive/negative system of display, but in reverse to that adopted in America. If the number is positive, then it indicates what you will receive for an outlay of 1 unit. For example, odds of 0.75 would indicate that for 1 unit stakes, 0.75 units profit would be derived. When the odds are negative, they indicate the bet has a less than 50% chance of success. So a bet which was -0.05 would require just 0.05 units to be staked to win 1. An even money bet is indicated as 0. Read more on this here.
E.g.
1. A horse is available at odds of -0.40. This would require an outlay over 0.4 units to win 1 unit. In decimal terms this equates to odds of 3.5
2. Arsenal are at home to Ipswich in the FA Cup. Arsenal can be backed at 0.25. This means for every 1 unit placed on Arsenal, 0.25 units profit will be made.
Decimal odds are the most common way online bookmakers present their odds to customers. Decimal odds are often called European odds, as they are most commonly used by sports bettors in Europe, Australia, and Canada. They are simple to understand, making them a favorite across the world for bookmakers and sports bettors.
Understanding Decimal Odds
Decimal odds take two seconds to calculate, they are simply your stake multiplied by the odds, which then equals your payout. A simple formula for decimal odds is:
Your Stake x Odds = Payout
Let’s look at a few examples.
Say you are backing Manchester United and Man U’s decimal odds to win are 1.82, if you wagered $100 your potential return on your bet would be $182. Remember that this counts your original stake of 100 dollars, so your net profit on a winning bet would be $82. The math looks like this:
Original Bet 100 x Decimal Odds 1.82 = Your Potential Winnings $182
Your potential net profit is $82, a stake of $100 and $82 in winnings. Let’s look at another example.
You are backing Tottenham, a big underdog in their match for $100 at 2.75 decimal odds. The math for your bet looks like this:
100 x 2.75 = 275
You are risking $100 to win $275 with the potential for a $175 net profit.
6 4 In Decimal Odds Worksheet
Just remember that when using decimal odds, your original stake is calculated into your potential winnings. When determining your potential net profit, always remember to account for your original stake.
The breakeven odds for decimal odds betting are 2.0, as these odds will simply double your stake. Decimal odds below 2.0 are less than even money odds, the potential return will be less than your stake. Odds above 2.0 will be plus odds, meaning your potential return will be more than your stake.
4.6 Into Decimal
Decimal odds are also the most economical way to bet parlays, because the true odds will be calculated. Unlike traditional parlays which are calculated by the number of teams, parlays bets placed with decimal odds with give sports bettors the fairest and most accurate odds, maximizing their edge, so keep this in mind when using the best betting sites.
Conclusion
Decimal odds are the most widely used odds across continental Europe and continue to spread to other parts of the world. It is imperative for the modern day sports bettor to understand decimal odds, as they are used at many online books and betting exchanges.