What Are Decimal Odds?
Decimal odds are odds expressed in the form of a decimal, as the name itself says. All odds are above 1.00, which makes them easier to understand than American or fractional odds. If a bet is a clear favourite, the odds won’t be higher than 1.50, but typically, every bet with odds below 2.00 is considered some form of a favourite, which is valid for all sports to bet on at a sportsbook.
When you see the odds for the outcome of a football match, for example, you can see clearly if there is a favourite in the match or if the sides are considered to be of similar strength. So, if the odds of the host’s victory are 3.10, for the draw 2.00, and the away team’s win is 1.40, it’s evident that the bookie considers the away team a favourite. That’s a brief overview of how decimal odds work in practice.
How to Read Decimal Odds in Sports Betting
The basis for decimal odds is 1.00, and that’s practically your stake. So, if you bet on the outcome with the odds of 1.20, you are betting on a favourite, and if your bet wins, you are not looking at a substantial payout when compared to the money invested.
An even money bet in the decimal system is a bet on the odds of 2.00, meaning that you get €1 for every €1 you invest. Decimal odds indicate the odds that include your initial stake when you calculate the potential winnings alongside the profit that you will make if successful.
When a football match odds are not that far apart, like 2.35 on the match host to win, 3.40 on a drawn result and 2.95 on the away team, it’s evident that the sportsbook thinks it’s going to be a close game and a close call on the final result.
Best sports betting sites in terms of odds will be those that constantly provide the best odds to their customers, meaning that they probably have a lower house edge than other sportsbooks.
Convert Decimal Odds to American Odds
There is a formula you can use to convert decimal odds to American, and we will show you how it’s done, but the easiest way to do it is to use a decimal odds calculator. You can find them online, and you can probably find them on the sportsbook’s website. If not, you can resort to Google and look for an odds converter or find an app you can install and use when needed.
However, if you prefer to calculate the odds yourself, here’s how decimal odds become American odds:
If the decimal odds are above 2.00 (which is considered to be even money), you will need to multiply the odds minus 1 by 100. For example, if the decimal odds are 2.55, that will look like this: (2.55-1.00)*100 = +155. We deduct the 1.00 from the decimal odds because American odds only display the profit without the original stake, unlike the decimal odds.
The American odds will be negative if the decimal odds are below 2.00. That means you should divide the -100 by the decimal odds minus 1.00 to calculate the odds. If the decimal odds are 1.20, it should look like this: -100/(1.20-1.00) = -500.
Convert Decimal Odds to Fractional
Most betting sites UK still use fractional odds format as a default, and you can almost expect to see them for some events with long-standing traditions, like horse racing events. It is possible to encounter decimal odds there, and you will most definitely have the option to choose between formats, and you can pick the one you prefer.
When it comes to converting to fractional odds, once again, we can give you some friendly advice, such as using an odds converter. The bookie typically allows you to set the odds format you want to use across the website, and that tool converts all the odds to your desired format, be it decimal betting odds or some other.
The first step when converting decimal odds to fractional is again to subtract 1 because fractional odds only show the profit you can get, like the American odds. So, if the decimal odds are 3.00, you should subtract 1.00 first and then use the number 1 as a denominator. It looks something like this: 3.00-1.00 = 2.00, and in fraction 2/1.
Things get slightly more complicated if the odds have decimal points, for example, 3.25. Since the fraction can’t be 2.25/1, you need to do some more math. The decimal should be multiplied by the nearest whole number to get a whole number. For 2.25, that number is 4, and we will use it as a denominator. So, the result should be 2.25x4=9, and the resulting fraction is 9/4.
Payouts For Decimal Odds
Payouts for decimal odds are easily calculated. All you need to do is multiply the stake by the odds, and voila - that’s your potential payout. Since the stake is already added in the odd (that’s why the starting point is 1.00 instead of 0), the calculation is pretty straightforward.
If you are making an accumulator bet in decimal betting odds, all the odds will be multiplied and then multiplied again by the stake to show you the potential payout if your accumulator bet wins.
The bookie may include some kind of a bonus to your accumulator bet or to other bet types, and that will be clearly indicated on your bet slip, showing the total potential payout.
