Odds Formats
There are several widely used odds formats - fractional, decimal, and moneyline are the most popular. We've explained how each work, with examples of stakes and winnings using each odds type.
- How Do Fractional Odds Work?Fractional Odds
- How Do Decimal Odds Work?Decimal Odds
- How Do Moneyline Odds Work?Moneyline Odds
- Convert Odds Between Fractional, Decimal and AmericanOdds Converter
How Do Betting Odds Work? - Fractional Odds Explained
Fractional odds have been traditionally used in the United Kingdom, but have mostly now been replaced by decimal odds. Fractional odds are represented as fractions, for example 2/1 or 6/4. To convert fractional odds to decimal odds, all you need to do is divide the nominator (first number) by the denominator (second number), and add 1, and you will get the decimal odds.
Calculating Winnings Using Fractional Odds
Fractional odds of 10/1 mean that whatever you stake you will receive 10 times your stake back in winnings if you win. So, $10 on a 10/1 bet will give you $100.00 in winnings.
For $10 on 6/4 you just need to divide 6 by 4, giving you a multiplier of 1.5. Therefore if you stake $10 on a 6/4 bet you will return winnings of $15.00.
When you bet and win you also get your stake back on top of your winnings. So, in both examples above you need to add your stake onto your winnings to get your total return.
For those of you in the United Kingdom, UK betting law used to levy tax on stakes or winnings (you could choose when tax was applied - before the running of the bet (on the stake), or after (on your winnings)), but this has now been abolished, which makes odds and calculating returns a lot simpler. Other countries may still have tax on betting stakes and/or winnings, but in the UK betting winnings are tax free.
Decimal Odds Explained
Most global sportsbooks commonly quote odds in decimal format by default. Decimal odds make things simpler since you do not have to deal with fractions and calculating winnings using more complicated fractions like 10/11.
Decimal odds, unlike fractional odds, reflect a multiplier that will give you your total return (winnings plus stake).
Calculating Winnings Using Decimal Odds
If a team are 10/1 in fractional odds, this would be 11.00 in decimal odds. If you put $10 on a bet at decimal odds of 11.00 you will receive $110.00 in total returns (simply $10 multiplied by 11.00).
Unlike fractional odds there is no need to add your original stake to your winnings to get total returns with decimal odds.
Decimal odds are simply a multiplier by which you can multiply your unit stake and calculate your total returns (winnings plus returned stake).
Decimal odds do make things simpler, however if you like to keep your winnings and total returns (stake plus winnings) calculations separate (for example if you want to compare winnings to stake as a percentage of stakes), then fractional odds may be preferable.
Most online sportsbooks allow you to set your odds preference once you have registered an account, so you need not worry if you prefer one or the other, you will be able to choose.
American (Moneyline) Odds Explained
American odds (more commonly referred to as moneyline odds) are primarily used in North America - both the USA and Canada. American odds use a positive or negative number to indicate underdogs and favourites - the more negative the number the bigger the favourite, and the larger the number the bigger the underdog.
Moneyline odds are represented by numbers like +200 (although the + sign is sometimes omitted) and -125.
The reason for American odds appearing to work in hundreds is that moneyline odds uses a baseline of $100. That is, what amount of money must be wagered to win $100 (on a favourite) or the amount of money you would win by wagering $100 on an underdog.
For example, odds of -150 (favourite) mean that if you wager $150 you will win $100. Odds of +300 (underdog) mean that if you wager $100 you will win $300.
Calculating Winnings Using American Odds
If a team are favourites to win at moneyline odds of -125. If you put $10 on a bet at American odds of -125 you will receive $18.00 in total returns.
This is calculated by taking 100 and dividing it by 125, which equals 0.80, and adding 1. This gives a multiplier of 1.80 which the stake above is multiplied by to give the return.
If a team are underdogs to win at odds of +400 then the calculation is relatively easier to understand. If you put $10 on a bet at American odds of +400 you will receive $50.00 in total returns.
For American odds of 100 or greater, simply divide by 100 and add 1 to get a multiplier. In this case 400 divided by 100 is 4, and adding 1 gives us a multiplier of 5.00
Odds Converter
The following odds conversion table is a quick reference that allows you to convert between fractional to decimal odds and decimal to fractional odds, and from fraction and decimal to American or moneyline odds.
| Fractional | Decimal | American |
| 1/10 | 1.10 | -1000 |
| 1/9 | 1.11 | -909 |
| 1/8 | 1.12 | -833 |
| 1/7 | 1.14 | -714 |
| 1/6 | 1.17 | -588 |
| 1/5 | 1.20 | -500 |
| 2/9 | 1.22 | -455 |
| 1/4 | 1.25 | -400 |
| 2/7 | 1.29 | -345 |
| 3/10 | 1.30 | -333 |
| 1/3 | 1.33 | -303 |
| 4/11 | 1.36 | -278 |
| 2/5 | 1.40 | -250 |
| 4/9 | 1.44 | -227 |
| 1/2 | 1.50 | -200 |
| 8/15 | 1.53 | -189 |
| 4/7 | 1.57 | -175 |
| 8/13 | 1.62 | -161 |
| 4/6 | 1.67 | -149 |
| 8/11 | 1.73 | -137 |
| 4/5 | 1.80 | -125 |
| 5/6 | 1.83 | -120 |
| 10/11 | 1.91 | -110 |
| 1/1 | 2.00 | 100 |
| 11/10 | 2.10 | 110 |
| 6/5 | 2.20 | 120 |
| 5/4 | 2.25 | 125 |
| 11/4 | 2.38 | 138 |
| 6/4 | 2.50 | 150 |
| 13/8 | 2.63 | 163 |
| 7/4 | 2.75 | 175 |
| 9/5 | 2.80 | 180 |
| 15/8 | 2.86 | 186 |
| 2/1 | 3.00 | 200 |
| 11/5 | 3.20 | 220 |
| 9/4 | 3.25 | 225 |
| 12/5 | 3.40 | 240 |
| 5/2 | 3.50 | 250 |
| 13/5 | 3.60 | 260 |
| 11/4 | 3.75 | 275 |
| 3/1 | 4.00 | 300 |
| 10/3 | 4.33 | 333 |
| 7/2 | 4.50 | 350 |
| 4/1 | 5.00 | 400 |
| 9/2 | 5.50 | 450 |
| 5/1 | 6.00 | 500 |
| 11/2 | 6.50 | 550 |
| 6/1 | 7.00 | 600 |
| 13/2 | 7.50 | 650 |
| 7/1 | 8.00 | 700 |
| 15/2 | 8.50 | 750 |
| 8/1 | 9.00 | 800 |
| 17/2 | 9.50 | 850 |
| 9/1 | 10.00 | 900 |
| 10/1 | 11.00 | 1000 |
| 11/1 | 12.00 | 1100 |
| 12/1 | 13.00 | 1200 |
| 14/1 | 15.00 | 1400 |
| 15/1 | 16.00 | 1500 |
| 16/1 | 17.00 | 1600 |
| 18/1 | 19.00 | 1800 |
| 20/1 | 21.00 | 2000 |
| 25/1 | 26.00 | 2500 |
| 33/1 | 34.00 | 3300 |
| 40/1 | 41.00 | 4000 |
| 50/1 | 51.00 | 5000 |
| 66/1 | 67.00 | 6600 |
| 100/1 | 101.00 | 10000 |
