How To Calculate Odds
There are, however, multiple ways to convey this information. UK bookmakers traditionally used the fractional odds format but decimal usage is becoming more common. This may be because they are easier to work out potential winnings. Or because they are more commonly used throughout Europe. Based on this, there has a movement to attract more people to horse racing by making it more accessible to the average punter. Ten years ago, if you were going to Cheltenham, all the odds would be displayed as fractional odds.
Big favorites that can get lines under 1/1 can be tricky to understand. If a horse is 1/2 to win a race, for example, a $60 bet would net $30 in profit. A team at 7/5 odds can seem more confusing, but it’s easy to learn.
You could get several bookmakers offering ok odds and one bookie offering good odds. If they are shown with a – sign it means how much you would have to stake to win £100. If they are shown with a + sign it means how much you would win on a £100 stake.
2 to 5 odds or 2/5 is a way of displaying the decimal odds 1.5. 5 to 2 odds or 5/2 is a way of displaying the decimal odds 3.5. 1 to 2 odds or 1/2 is a way of displaying the decimal odds 1.5.
The odds for favorites are accompanied by a minus (-) sign, indicating the amount you need to stake to win $100. Fractional odds are generally used when there are several potential winners like in a horse race or a futures wager . Try different types of wagers and see what type works best for you. Most people aren’t trying to turn wagering into their full time job; it’s a way to amplify the stakes of a given game. Sports betting can be a lot to digest, and the sportsbooks understand that.
In addition to the financial information that odds provide, they also contain information about how likely the sportsbook thinks an outcome is. Now probability may be something you last thought about at high school, but some very simple maths can take you a long way when thinking about odds. A negative number tells you how much you will need to stake in order to win $100; a positive number indicates how much you will win if you stake $100. Odds are a representation of the probability that an event will occur. If you think Miami Dolphins will win, the +130 means that for every £100 you stake on them, you will win £230 (£130 plus your £100 stake). A £10 bet would mean you will win £23 – your £10 stake and £13 profit (calculated as £10/£100 x 130).