What is an Odds Format?
There are various odds formats used in sports betting, which come from different international conventions. These are the American format (such as -110 and +110) used in the USA, Decimal format (such as $1.91 and $2.10) used in Australia and Europe, and the Fractional format (such as 10/11 and 11/10 used in the United Kingdom).
American odds use a baseline value of $100. The easiest way to interpret American odds is to understand the concept that for favorites you are always risking money to win $100, whereas with underdogs you risk $100 to win the amount.
If you are betting on a favorite the odds will be accompanied by a negative sign (-) indicating the money you need to risk to win $100. For example, if you are betting on the Lakers at -150, you will need to risk $150 in order to profit $100 if the Lakers win the game (plus your original $150 stake you will get back)
If you are betting on an underdog the odds will be accompanied by a positive sign (+) indicating the money you'll win for every $100 risked. If you are betting on the Celtics at +150, you would need to risk $100 in order to profit $150 if the Celtics win the game (plus your original $100 you will get back) You don’t need to bet in terms of $100, American odds can be scaled up or down depending on your bet size.
20 x 4.50 = $90
Fractional odds work similarly to decimal odds, however are displayed as fractions. In terms of sport betting, fractional odds are usually displayed with a slash (/) dividing the numerator and denominator. An easy way to understand fractional odds is to understand that whatever the second number is can be viewed as the stake, whereas the first number is what the bettor will receive back should their bet win. As an example, if the odds for an event were 9/2, the bettor will receive $9 for every $2 they wager.
Now you can tell the difference between American, Decimal and Fractional odd formats! But if you want to learn more about these formats, and to easily convert them check out our Odds Converter