![]() See below for more examples of how to read betting odds.Throughout college, I always had many friends who were wagering hundreds of dollars on sporting events every week. ![]() For example, if you place a £1 bet on West Ham to beat Tottenham at 4/1, it will pay out £5 if successful (£4 profit plus your £1 stake). Now you’re ready to start betting, and if you want to open an account with a bookmaker, you should take advantage of the incredible new customer offers available on the Telegraph’s free bets page.įractional odds tell you the potential winnings in relation to the stake you place on the bet. That’s our full rundown on how betting odds work, so now you will know how to read odds, what the probability of a bet winning is according to the odds and what your potential winnings are. (actual stake/American odds stake) x American odds winnings. In both examples for the £10 stake the calculation is: So, if you were to place a £10 bet it would return £16.90 – your £10 stake and £6.90 profit (calculated as £10/£145 x 100). The -145 means you will win £100 for every £145 you stake. The minus in front of the New England Patriots odds means they are favourites and the calculation is different. A £10 bet would mean you will win £23 – your £10 stake and £13 profit (calculated as £10/£100 x 130). If you think Miami Dolphins will win, the +130 means that for every £100 you stake on them, you will win £230 (£130 plus your £100 stake). ![]() This time it’s an American football match and the American/moneyline odds are as follows: And 100 is the key number, which we will illustrate with another example. In American or moneyline odds the heads and tails outcomes would be expressed as -100 or +100. Let’s return to the coin toss example, in which the odds for heads and tails are both even money or 1/1 (fractional) or 2.0 (decimal), meaning that a £1 stake will return £2 (£1 profit plus the £1 stake). ![]() 1.5 odds = £1 bet would return £1.50 including stakeĪlthough fractional and decimal betting odds are the most common way a bookmaker showcases their prices on an event, it’s still handy to know how the moneyline or American version works.4.5 odds = £1 bet would return £4.50 including stake.11.00 odds = £1 bet would return £11 including stake.Here are some examples of how to read decimal betting odds. Decimal odds are often used on betting exchanges, such as Betfair, as the user is in control of the odds rather than the bookmaker. When converted into decimals, the potential winnings include the stake, so you just multiply the stake by the odds. Odds-on events are considered more likely to happen than not by bookmakers, and vice versa for events that odds against. Here are some examples of betting odds converted into percentages to find out the probability.Īny odds in which the first number is bigger than the second are odds against, while any odds in which the first number is smaller than the second are odds on. The calculation is: Probability (%) = B/(A+B). The method for calculating probability (in percentage terms) from odds is most easily explained by taking the two numbers that appear in the odds and replacing them with letters. Now you know odds are set out with two numbers separated by a forward slash, you can use them to work out the probability of an event happening. How to calculate probability from betting odds This is how punters can use the betting odds to work out how likely bookmakers believe an outcome is to happen. The probability of getting heads is a one in two chance, which can be represented as odds of 1/1, which would mean the outcome has a 50% chance of winning. 1/2).Ī very simple explanation of probability would be a coin toss, in which the two possible outcomes are heads or tails. Probability is most commonly shown as a fraction by UK bookmakers, and would be two numbers separated by a forward slash (e.g. If the event is deemed to have a low probability, then it’s less likely to happen than not. If the bookmaker has an outcome to an event with a high probability, then it’s more likely to happen than not. Probability is simply how likely something is to happen. Already used the bet365 bonus code? Check out all the latest bookmaker offers and the best betting sites.
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