Gambling 101: Standard Odds Formats

Author:

Kaitlin O'Toole

Publish date:

Jun 12, 2020

Video Rating:

TV-G

Video Duration:

1:57

How do bettors read and calculate American, fractional and decimal prices? Don't worry guys, we are breaking it down here on Sports Illustrated's Gambling 101.

There are three main odds formats in Gambling- American odds which is the primary format for sports in the United States.

Fractional odds which is the standard betting option in the UK and Decimal odds which is the most common format offered in Canada and Europe.

Let's start with American betting odds.

While they may appear complicated at first glance, American odds are easy to understand and calculate. the favorite is tagged with negative odds and the underdog is posted with positive prices.

For example if the Juice on the point spread and game total odds is priced at -110 this means bettors need to wager $110 to bank a $100 profit .

Fractional odds are popular in the UK and are the primary format used to bet on horse racing.

Calculating fractional odds is fairly simple as the first number is the possible profit and the second number is the bet amount. If a bet is listed 8/5 then bettors receive an $8 return for every $5 wagered on.

Lastly there are decimal odds.

With decimal odds, a 2.00 price represents an EVEN line and that’s equivalent to +100 American odds and a 1/1 Fractional line. Any side with a price of 2.01 or higher is a favorite while odds of 1.99 or lower indicates an underdog.

Possible returns are universal with the big three standard odds formats but doing the proper research and having an understanding of the terms is key. Thats why we're here, to help make you a better gambler!

Make sure to book mark Sports Illustrated's glossary of terms and tune in for another Gambling 101 here on SI.com.

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