Decimal Odds To Fractional Odds
Did you know that, according to one UK-based bookmaker, there are 500/1 odds of Kanye West becoming the next US president? Depending on your viewpoint, it’s a brave or foolish bet. But while political betting markets aren’t offered in the US, these odds wouldn’t read as 500/1 in American bookies. They’d instead read as +50000, while it would be presented as 501.00 in Australia. That is to say, there is no single odds format used universally across the world. In this article, you will get to know the difference between American odds, fractional odds, and decimal odds.
Whether you’re trying your luck with seemingly absurd wagers, or gambling on more probable outcomes, you have to understand the odds used so you can always work out the best returns. The three main formats are American, fractional, and decimal odds and, as touched upon, different countries have different preferences. Let’s take a look at each format in turn.
Fractional odds are the ratio of the amount (profit) won to the stake; Decimal odds represent the amount one wins for every $1 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 the fractional betting odds being offered are 2/1, then the decimal equivalent will be shown as 3.00. In the former, 2/1 means that you receive a £2 win for every £1 you bet on this selection. The key point is that this does not include your stake, which you also get back if you win the bet. High odds suggest a low probability of something happening, while low odds suggest a high probability of something happening. For example, imagine a tennis player is +200 to win an upcoming match. This would be 3.00 in decimal odds, and 2/1 in fractional odds. The implied probability for these odds. These odds types are outdated and sportsbooks that show one of these odds types will also have the option to displaying decimal odds instead. Fractional odds. Fractional odds are expressed as two numbers with a / in between like a fraction. Think of it as profit/stake. The first number is the amount you will profit if you stake the second number.
American odds (also known as Moneyline or US odds) display the favorites with a minus sign and a number indicating how much you need to stake to win $100. The odds for the underdogs have a plus sign, showing the amount you’d win for every $100 staked. For example, in this guide to NFL odds, the odds for a game between the Chiefs and Packers are:
Chiefs +3 (-110)
Packers -3 (+110)
Ignoring the -3 and +3 figures, for now, the odds of +110 for the Packers indicates a lower probability of them winning the game. As such, it’s in the bookmaker’s interest to offer longer odds, which are more tempting. You’d win $110 for every $100 gambled on the Packers if they unexpectedly won, which would give you $210 including your original stake. If you bet on the Chiefs instead, you would need to wager $110 to take home $100, which would also win you $210, including your stake. So you’ll have to gamble more to win less on the Chiefs, hence why they are favorites.
The +3 and -3 represent the point spread. This means, to win a bet on the Packers, they would need to win the game by more than three points. To win on the Chiefs, they would need to lose by two points or less (or win the game). The point spread works as an equalizer so that betting on either team offers an almost even chance of winning, despite the clear disparity between the two teams.
Fractional odds are typically used by the UK and Irish bookmakers. These are usually written with a slash or a hyphen — for example, 7/1 or 7-1, pronounced as ‘seven-to-one’. These particular odds would mean that you win $7 for every $1 you wager. According to one soccer bookmaker, the three favorites to win the 2022 World Cup have the following odds:
France: 11/2
Germany: 13/2
Argentina 11/1
Decimal Odds To Fractional Odds Ratio
With shorter odds than the other two teams, France are the current frontrunners. And while you’d make $11 for every $2 spent on France and $13 for every $2 on Germany, you’d win $11 for each $1 you wagered on Argentina to be champions. So, say you bet $100, you’d make $550 profit on France [$100 x (11/2)], $650 on Germany [$100 x (13/2)], and $1100 on Argentina [$100 x (11/1)].
There are also reverse fractional odds, known as ‘odds-on’ prices. The bottom number of the fraction shows how many times your stake will be divided to calculate your winnings:
$1 stake divided by 2 = $0.50 winnings = odds of 1/2
$5 stake divided by 2 = $2.50 winnings = odds of 1/2
$10 stake divided by 2 = $
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5 winnings = odds of 1/2
Decimal Odds Calculator
Decimal odds are used by bookmakers in Europe, Australia, New Zealand, and Canada. These are very easy to understand, and instantly allow you to distinguish between the favorites and underdogs. With decimal odds, the number represents what you’d win for every $1 wagered, including your stake. To work out the potential return, simply multiply the stake by the decimal number. For example, one Australian bookmaker offers the following odds on who will win the 2020 US presidential election:
Joe Biden: 2:00
Donald Trump: 2:00
Mike Pence: 34:00
So, if you were to put $100 on either Biden or Trump, your total return would be $200 ($100 x 2.00). As this figure includes the initial stake, your net profit is $100. Whereas, if you wagered $100 on Pence, you’d take home $3400 ($100 x 34.00), with a profit of $3300. From this, it’s obvious that Biden and Trump are clear frontrunners to be the next US president, with Pence’s long odds showing how unlikely his chances of taking office are perceived to be.
It is important to note that American, fractional and decimal odds are simply alternative ways of presenting the same information, meaning you can convert between them easily.
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