What are ‘Odds’ in Sports Betting?
Sports betting odds are the numerical expression of a bookmaker’s prediction of the likelihood of a certain outcome in a given sporting event. In other words, these odds represent the probability that a particular team or athlete will win the game or match.
Definitions for Decimal, Fractional and American Odds
- Decimal odds are the most popular in Europe, and they represent the amount a bettor will receive for each dollar wagered. For example, a decimal odds of 2.0 would mean that for every dollar wagered, the bettor would receive two dollars in return if the bet is successful.
- Fractional odds are the most popular in the UK, and they represent the amount a bettor will receive for each pound wagered. For example, a fractional odds of 1/2 would mean that for every pound wagered, the bettor would receive one pound in return if the bet is successful.
- American odds are the most popular in the United States, and they represent the amount a bettor will receive for each dollar wagered, with the odds expressed as either a positive or negative number. For example, an American odds of +150 would mean that for every $100 wagered, the bettor would receive $150 dollars in return if the bet is successful. Conversely, an American odds of -150 would mean that to win $100, the bettor would need to wager $150.
When looking at various ways to bet, the common options for sports betting odds are moneyline, spreads and totals (all the odds for which can still be displayed in decimal, fractional or American).
