Decimal odds
Favoured in continental Europe, Australia and Canada, decimal odds differ from fractional odds in that the bettor must first part with their stake in order to make a bet, the figure quoted is the winning amount that would be paid out to the bettor. Therefore, the decimal odds of an outcome are equivalent to the decimal value of the fractional odds plus one. Thus even odds 1/1 are quoted in decimal odds as 2. The 4/1 fractional odds discussed above are quoted as 5, while the 1/4 odds are quoted as 1.25. This is considered to be ideal for parlay betting, because the odds to be paid out are simply the product of the odds for each outcome wagered on. Decimal odds are also favoured by betting exchanges because they are the easiest to work with for trading.
Decimal odds are also known as European odds, or continental odds in the UK.
Odds
Odds for different outcomes in a single bet are presented either in European format (decimal odds), UK format (fractional odds), or American format (moneyline odds). European format (decimal odds) are favoured in continental Europe, Canada, and Australia. They are the ratio of the full payout to the stake, in a decimal format. Decimal odds of 2.00 are an even bet. UK format (fractional odds) are favoured by British bookmakers. They are the ratio of the amount won to the stake. Fractional odds of 1/1 are an even bet. US format odds are favoured in the United States. They are the amount won on a 100 stake when positive and the stake needed to win 100 when negative. US odds of 100 are an even bet.
| Decimal | Fractional | US |
| 1.50 | 1/2 | -200 |
| 2.00 | 1/1 | +100 |
| 2.50 | 3/2 | +150 |
| 3.00 | 2/1 | +200 |
| x | To | Do this |
|---|---|---|
| Decimal | Fractional | x-1 , then convert to fraction |
| Decimal | US | 100*(x-1) if x>=2; -100/(x-1) if x<2 |
| Fractional | Decimal | divide fraction, then x+1 |
| Fractional | US | divide fraction, then 100*x if x>=1; -100/x if x<1 |
| US | Decimal | (x/100)+1 if x>0; (-100/x)+1 if x<0 |
| US | Fractional | x/100, then convert to fraction if x>0; -100/x, then convert to fraction if x<0 |
In Asia betting markets, other frequently used formats for expressing odds include Hong Kong, Malay, and Indonesian-style odds formats. Odds are also quite often expressed in terms of implied probability, which corresponds to the probability with which the event in question would need to occur for the bet to be a breakeven proposition (on the average).
Many online tools also exist for automated conversion between these odds formats.
This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia.
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