How to calculate odds of different types American odds. As we have already mentioned, they are based on winning $100 for a given bet. To figure out what your... Decimal odds. Decimals are the easiest odds to calculate because all you have to do is multiply the stake by the odds. Fractional odds. ...
How do betting odds work? Odds explained. Calculating the odds is a long and hard process, but if you get the hang of it, you would be better equipped when you place bets in the future. Analyzing the Data. Data analysis is the first and most crucial step in the process of calculating the odds. Bookmakers usually hire specialists, like traders and odds compilers to compile all the data possible and make sense of it.
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American odds. Popular in the United States, this format is based on winning $100 for any given bet. This is calculated using a minus (-) sign to indicate the amount you need to stake in order to win. At the same time, an underdog’s odds will be represented with a plus (+) sign, which will still indicate the amount won for every $100 staked.
9 / 1 can be calculated like 1 / (9 + 1) = 0.10 which means that there is a 10 percent chance that the event will happen. Img source: bet-nj.com. Not only can you calculate the possibility of the outcome, but you can also calculate how much money you will earn. For example when it comes to 1 / 4 for every four pound you bet you will win 1; 1 / 1 for every pound you bet you will win 1; 4 / 1 for every pound you bet you will win 4; and 9 / 1 for every pound you bet you will win 9.
To calculate winnings on fractional odds, multiply your bet by the top number (numerator), then divide the result by the bottom (denominator). So a $10 bet at 5/2 odds is (10 * 5) / 2, which equals $25. A $10 bet at 2/5 odds is (10 * 2) / 5, which is $4.
Fair odds would be 2.00 for both and if you bet 10$ on over and the same on under, you will get 20$ back, no matter what happens. In reality, the prices would probably be about 1.93 and the difference is the bookmaker’s margin. The percentage varies in each operator and depends on lots of factors.
Decimals are also the most popular in betting exchanges such as Betfair, with betting exchanges attracting a large number of bettors due to the big payouts players stand to gain. To know how much you win, you calculate your stake X the odds. The net win is equal to (your stake X decimal odds less the stake you placed).
American odds, depending on whether there is a negative (-) or a positive (+) sign, indicate either the amount of money you need to bet in order to win $100 or the amount of money you would win for every $100 wagered. Decimal odds represent the amount of money you win for every $1 bet.