There are three types of odds specifications, they are: Decimal Odds also called European Odds Fractional odds, also known under the name UK odds, and American odds. Since they accurately reflect the scenario, Decimal forms are considered the preferred method for defining odds. The purpose of odds specification regardless of the form they're given is to link value of the money bets a gambler makes in relation to the winnings he or she earns. In order to do this one must be aware of three terms that are stakes, winnings and payouts. Stakes refer to the amount that is wagered. The term "winnings" refers to the amount that is won in a wager. Pay-outs, on the contrary, are the sum of money that is paid out after a bet has been won. Pay-outs are obviously winnings plus stakes. These terminologies might seem insignificant but they're the basis of any odds calculations.
It is also important to be aware of three additional terms about the strength of teams involved in a game; They are Odds-on, Evens and Odds-against. Evens are when the players are equally strong. If there are no commissions, you could bet $1 for a chance to take home $1. Odds-on are the odds of the favourite and the winnings in this case are lower than stakes. Odds-against refers to the odds for the underdog. Inclick for source , winnings are usually greater than stakes. In the case of odds of evens (the most commonly used type of sports betting) odds are allocated to both sides. They'll be 1.90 in decimal odds, 9.10 in fraction and -111 American odds. These odds mean the same thing, "bet one dollar for 90 cents". If there was no commission or if the betting was just between friends, these odds would be 2.0, 1/1, and 100, respectively depending on the three kinds of odds. They refer to "bet one dollar and win one dollar".
Decimal Odds (European)
These are simply factors that indicate how-many-times-the-stake will the pay-out be. If odds are 2.50 which means the pay-out will be double as high than stake. For every dollar bet, the payout will be $2.50.
Pay-out = stake * Decimal Odds
Winning = stake * (Decimal Odds-1)
Fractional Odds (UK)
The fractions here indicate that a stake equal to the denominator will result in a winning equal to the numerator. If you wager 11 units and you win 10, chances are that you will be able to win 10 units. For every $11 wagered you will win $10.
Winning = Stake * Fraction Odds
Pay-out = Stake (Fraction Odds * 1)
American Odds (US).
American odds are represented by numbers greater than 100.free to playare preceded by an "+" or "--" symbol. These symbols are not mathematical, they are simply symbols that let you know if your winnings are more than or less than the stakes. The positive sign can be used to indicate an underdog , whose winnings surpass stakes or an odds-against wager; while the negative sign is for the odds-on and favorites. Both odds are based upon completely different definitions, so they use separate calculations.
Negative odds indicate how much you can bet in order to win $100. If you have odds of -110, it means that $100 bets are required to be able to win $100.
Winning = 100/negative American Odds
Pay-out = stake * (100/negative American Odds+ 1)
Positive odds indicate how much winnings are likely to be if $100 is wagered. For instance, odds of +110 mean that $110 is the prize, when $100 are wagered.
Win = stake + positive American Odds/100
Pay-out = Stake (positive American Odds/100 + 1)
A few outstanding aspects of these opportunities.
Decimal odds always are higher than 1.0 because "1" is the stake.
American chances are never higher than or equal to 100 (remember that the letters + and are symbolic, not mathematical numbers).
Fractional and American odds can be used to determine the amount of money won as are decimal odds, whereas fractional odds show payouts.
If you are able to win the same amount of money as your stake, that is called even odds. Even odds are represented as 2.0 in decimal 1/1 for fractional odds, and 100 in US odds (-100 and +100 being identical).
In cases of odds-on, which is when the stakes are lower than winnings that is usually the case with a preferred team the decimal odds range between 1.0 and 2.0. Infree games to play now , they are distinguished by the fact that the numerator (winning) is smaller than the denominator (the stake) In US odds they are the negative odds.
In cases of odds-against, which is when the winnings are higher than stakes, as is typically the case of teams that are underdogs, the decimal odds will be higher than 2.0 The numerator will be higher than the denominator of fraction odds, and these are the positive odds for US odds.
