Odds are numerical expression, they are usually presented as a pair of numbers. Odds are usually used in statistics and gambling.
Different formats of odds are used by bookies in different countries and they can be really confusing for gamblers. American Odds are used in such countries as Canada and America, Decimal Odds or European Odds are used in European countries, but the United Kingdom uses the fractional odds. Asian countries use other odds formats. There are different odds converters that help gamblers to understand the amount of stake.
There are different gambling sites that support various odds formats and it is very comfortable for gamblers. The software on these sites simply converts the odds.
Various odds formats explained
European Odds
European odds are also called Decimal odds. In this type of odds, it is shown how much money you will get for each unit staked. If you decide to bet $1 and the odds are 1,91, you will win $1,91. It is considered to be one of the easiest formats of odds because payout means odds multiplied by a stake.
American Odds
The second name of American odds is Moneyline Odds. They can be both negative and positive. If odds are positive, it means the amount of profit you will get on a $100 stake. If the odds are negative, it shows how much it is necessary to stake in order to win $100. For example, $50 staked on +125 would win $50*1,25 = $62,5, and $50 staked on -125 means $50/1,25 = $40.
Fractional Odds
Fractional Odds are used in Great Britain. The first number means payout and the second one means a stake. Let’s have a look at the example, 3/1 means that a player gets £3 profit for every £1 staked.
In order not to confuse players by all odds formats, usually betting sites show payout to players before their bets are confirmed. More than that, there is a possibility to look at the odds in the preferable format.
