How Decimal Odds Work
The decimal odds number represents the amount one wins for every $1 wagered. For decimal odds, the number represents the total return, rather than the profit. In other words, your stake is already included in the decimal number (no need to add back your stake), which makes its total return calculation easier.
If you are planning to enter the betting or the gambling world, it is important to be able to understand and interpret all types of odds well. Once you have mastered the three popular types of odds (fractional, decimal and American), you can move towards a more detailed read on this topic and find out how the house always wins. Please refer to Understanding the Math Behind Betting Odds & Gambling for the conversion between the different formats of odds, the conversion of odds into implied probabilities, and the differences between the true chances of an outcome as well as the odds on display.
How Fractional Odds Work
These are typically written with a “slash (/)” or a “hyphen (-),” e.g. 6/1 or 6-1 and announced as “six-to-one.” Fractional odds are used by some of the world’s largest bookmakers, making them the most preferred odds across the globe.
KEY TAKEAWAYS
• The three main types of betting odds are fractional (British) odds, decimal (European) odds, and American (moneyline) odds. These are simply different ways of presenting the same thing, and hold no difference in terms of payouts.
• Fractional odds are the ratio of the amount (profit) won to the stake; Decimal odds represent the amount one wins for every $ wagered; and American odds, depending on the negative or positive sign, either indicate the amount one needs to wager to win $100 or the amount one would win for every $100 staked.
If you are planning to start betting, be it casino gambling, sports betting, or any other type, it's important to understand the odds. It would be preposterous and absurd to think about placing bets without having a good grip on the main types of betting odds and the ability to read and interpret the various associated formats.
The three main types of betting odds are fractional (British) odds, decimal (European) odds, and American (moneyline) odds. These are simply different ways of presenting the same thing and hold no difference in terms of payouts. This means that a chance (percentage probability) of an event occurring can be converted and presented in any of the aforementioned types of odds.
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