How to Read Sports Betting Odds – A Beginners Guide

Sports betting odds often resemble a mysterious code to newcomers. Numbers like -110, 1.91, or 10/11 can puzzle anyone taking their first steps into sports betting.

Our detailed guide will help you become skilled at reading odds effectively. Our expert odds guide covers everything from simple odds formats to advanced betting markets. You’ll learn to interpret betting odds and confidently calculate your potential winnings.

Understanding Basic Odds Formats

When sportsbooks display their betting offers, they use three primary methods. You’ll find it easier to calculate your potential winnings once you understand each format. Depending on where you are betting from, the sports betting odds are present in three different formats. Let’s take a look at them below: 

American Odds: Plus and Minus Explained

American sports betting odds work on a plus (+) or minus (-) system. A -110 odds means you need to bet $110 to win $100. The positive odds of +150 will earn you $150 from a $100 bet.

This simple calculation shows how it works:

• Bet: $100 on +150 odds
• Potential profit: $150
• Total return: $250 (profit + original stake)

Decimal Odds: The International Standard

The preferred format in Europe, Australia, and Canada uses decimal odds. Numbers like 2.00 or 1.91 represent these odds, and any number below 2.00 indicates a favorite.

A decimal sportsbook betting odds calculation looks like this:

• Odds: 1.91
• Stake: $10
• Total return: $19.10 ($10 × 1.91)

Fractional Odds: Traditional British Format

UK betting and horse racing typically use fractional odds, such as 5/1 or 9/2. Your potential profit appears in the first number, while the second number represents your stake.

Here’s a clear example:

• Odds: 5/1
• Stake: $10
• Profit: ($10 × 5) = $50
• Total return: $60 (including stake)

Most sportsbook odds offer the flexibility to switch between these formats. Decimal odds provide the easiest starting point for newcomers because of their straightforward calculations.

Using Online Odds Calculators

Here at Betyep, we know that online odds calculators serve as essential tools for sports bettors to quickly convert between different odds formats and calculate potential returns on their wagers. These calculators streamline the process of comparing odds across different bookmakers and betting markets, helping bettors identify value opportunities without manual calculations.

The primary function of odds calculators is converting between decimal, fractional, and American odds formats. This is particularly valuable when betting across international markets, as European bookmakers typically use decimal sports betting odds while British plaforms favor fractional formats. The ability to instantly convert between these formats lets bettors quickly compare prices without getting bogged down in mathematical conversions.

Beyond basic conversion, advanced odds calculators help bettors calculate implied probability, expected value, and potential returns on complex bet types like accumulators or each-way bets. 

Converting Between Odds Formats

Understanding different odds formats for your betting strategy is essential for any bettor, as they can affect how you view potential payouts and risks. Each format represents the same underlying probability but can be more intuitive for different types of bettors. You can easily convert between formats:

• Decimal to fractional: Subtract one from decimal (3.00 becomes 2/1)
• Decimal to American: Multiply by 100 after subtracting 1 (3.00 becomes +200)
• Fractional to decimal: Divide the first number by the second and add 1 (2/1 becomes 3.00)

Implied probability shows your chances of winning. With decimal odds, divide one by the odds and multiply by 100. Odds of 2.20 suggest a 45.45% chance of winning.

Note that your potential profit stays the same regardless of the format you use – it’s just shown differently. Most online sportsbooks let you switch between formats to use what works best.

Reading Different Betting Markets

Now that you understand sports betting odds formats and calculations, let’s examine the different types of available betting markets. These markets offer great options for betting on sports events.

Moneyline (Match Result) 

Moneyline or match result betting stands out as the simplest market – you just pick the winner of the game. A decimal odds price of 1.74 for Manchester City means a €100 bet would win you €74 in profit.

Point Spread (Asian Handicap)

Handicaps create a balance between teams. For example, PSG at -1.5 (1.93) means PSG must win by more than 1.5 goals for your bet to succeed. This adds excitement to games between unevenly matched teams in leagues like the Bundesliga or Serie A.

Over/Under and Totals Betting

Over/Under betting looks at both teams’ combined score. Take a Premier League match with a total of 2.5 goals – you bet whether the final combined score will go over or under that number.

A typical decimal odds of 1.91 appear on both sides of Over/Under bets, meaning a €100 stake would win €91. Lower-scoring matches might show odds like 1.83 for over and 2.00 for under.

Proposition Bets

Prop bets focus on specific match events. You can bet on questions like “Will Erling Haaland score over 1.5 goals?” or “Will Mohamed Salah get an assist?”. These bets make watching matches more exciting beyond just the final score.

Future Bets

Futures bets look at season-long outcomes. Popular options include Champions League winners, Ballon d’Or awards, and Young Player of the Year. These markets come with higher odds because they’re harder to predict.

Asian Handicap 

Levels the playing field by giving the underdog a virtual head start. Bets are placed on the adjusted scoreline, eliminating the possibility of a draw—for example, Bayern Munich (-1.5) vs. Freiburg (+1.5).

Both Teams to Score (BTTS)

Wager on whether both teams will score at least one goal during the match. It is a simple yet exciting market, especially popular in La Liga and Serie A. Options include “Yes” or “No”.

Draw No Bet

This terminology and betting market eliminates the possibility of losing if the match ends in a draw. If it’s a tie, your stake is returned. It offers a safety net for bettors who want to back a team to win.

Double Chance 

Allows betting on two of three possible outcomes in a match. Home/Draw, Away/Draw, or Home/Away. It provides better odds of winning but at lower payouts.

Correct Score

Predict the exact final score of a match. It is difficult to get right but offers high payouts. Popular across all major European leagues, especially in tight tactical matches between top teams.

Conclusion – Sports Betting Odds

Success in sports betting hinges on mastering odds calculation, market analysis, and comparison tools. Understanding decimal and fractional formats enables accurate probability assessment and return calculations. Professional bettors leverage real-time sports betting odds tracking and value bet identification through sophisticated comparison platforms.

The mathematical framework – from probability conversions to expected value calculations – provides the quantitative edge in modern betting markets. Combined with disciplined bankroll management and specialized market knowledge, these elements form the foundation for sustained betting success.

FAQs – Sports Betting Odds