Do you want to understand how each of the different sports betting odds formats work?

In this article I provide the formulas to calculate the potential winnings using any format of your choice. I also explain how to convert any format to/from the, preferable, Decimal odds format.

Article Contents

## Decimal Odds

Decimal odds are the default format across Europe — hence the name “European Decimal Odds”. They’re the easiest and most transparent odds to use, and the go-to format for most professional bettors and traders.

Note that profit calculations using decimals odds show the potential **return **of a bet*,* with the stake included.

### Profit Calculation

**Formula**: [Stake x Decimal -1]

#### Examples

- 2.0 = £100 profit on a £100 stake.
- 5.0 = £400 profit on a £100 stake.
- 10.0 = £900 profit on a £100 stake.

During the remainder of this article I provide details for how all other odds formats can be translated to and from European Decimal Odds.

## Fractional Odds

In the UK and Ireland Bookmakers have always used fractional odds as the default (e.g. 6/4, 1/3, 2/1). They’re simple to use — but do not always make it easy to quantify/compare the value of the prices on offer.

Importantly, unlike decimals odds, calculations made on Fractional odds give the potential **profit***,* without the stake included.

### Profit Calculation

**Formula**: [Stake x Fraction]

#### Examples

- 2/1 = £200 profit on a £100 stake.
- 1/2 = £50 profit on a £100 stake.
- 1/1 = £100 profit on a £100 stake (“evens” or “even money”).

### Convert to Decimal

**Formula**: [Fraction + 1]

#### Examples

- 3/1 = 3.0 + 1 = 4.0 decimal odds
**.** - 1/2 = 0.5 + 1 = 1.5 decimal odds.
- 1/1 = 1 + 1 = 2.0 decimal odds.

To convert decimal odds to fractions: Decimal Odds - 1.0, and then find the nearest whole integers (e.g. 3.75 - 1 = 2.75/1, or 11/4).

## American Odds

American odds are of course very popular at US sportsbooks. They’re often called “money line” or “lines”. Importantly, the odds are different for underdogs and favourites — but are both represented in units of $100. Favourites are represented by negative (-) odds, and underdogs by positive (+) odds.

**If the odds are lower than evens (2.0 decimal)**, then American odds are negative. This shows how much money must be wagered to win $100.**If the odds are higher than evens (2.0 decimal)**, then American odds are positive. This shows how much money will be won on a wager of $100.

American odds are barely recognised in the UK and across Europe because the format is confusing and more difficult to grasp than the Fractional or Decimal formats.

### Profit Calculation (Favourites):

**Formula**: [-100/Odds x Stake]

#### Examples

- -200 = (-100/-200) = 1/2. Therefore, $50 profit on $100 staked.
- -400 = (-100/-400) = 1/4. Therefore, $25 profit on $100 staked.
- -500 = (-100/-500) = 1/5. Therefore, $10 profit on $50 staked.

### Profit Calculation (Underdogs)

**Formula**: [Odds/100 x Stake]

#### Examples

- 200 = (200/100) = 2/1. Therefore $200 profit on $100 staked.
- 300 = (300/100) = 3/1. Therefore $300 profit on $100 staked.
- 500 = (500/100) = 5/1. Therefore $250 profit on $50 staked.

### Convert to Decimal (Favourites)

**Formula**: [-100/Odds + 1]

#### Examples

- -500 = (-100/-500) +1 = 1/5 + 1 = 1.2 decimal odds.
- -400 = (-100/-400) + 1 = 1/4 + 1 = 1.25 decimal odds.
- -100 = (-100/-100) + 1 = 1 + 1 = 2.0 decimal odds.

### Convert to Decimal (Underdogs)

**Formula**: [Odds/100 + 1]

#### Examples

- 500 = (500/100) +1 = 5 + 1 = 6.0 decimal odds.
- 400 = (400/100) + 1 = 4 + 1 = 5.0 decimal odds.
- 200 = (200/100) + 1 = 3.0 decimal odds.

To convert Decimal odds of 2.00 or greater to American odds: (Decimal Odds – 1) x 100To convert Decimal odds of less than 2.00 to American odds: (-100)/(Decimal Odds -1)

## Hong Kong Odds

Hong Kong odds are adopted by many Asian bookmakers. The odds are simple to work out, and are a cross between decimal and fractional odds. Essentially the profit calculation works just the same as fractional odds — except they’re presented in a decimal format.

### Profit Calculation

**Formula**: [Stake x odds]

#### Examples

- 2.0 = £200 profit on a £100 stake.
- 0.5 = £50 profit on a £100 stake.
- 3.0 = £150 profit on a £50 stake.

### Convert to Decimal:

**Formula**: [Odds + 1]

#### Examples

- 0.4 = 0.4 + 1 = 1.4 decimal odds.
- 5.0 = 5.0 + 1 = 6.0 decimal odds.
- 1.5 = 1.5 + 1 = 6.5 decimal odds.

To convert decimal odds to Hong Kong odds:(Decimal Odds -1)

## Indonesian Odds

These are like US odds — except instead of being experssed in terms of $100, it’s in terms of $1. So whenever you see a negative value, it shows how big the wager is needed for a profit of $1. And when it’s positive, it shows the profit from a wager of $1.

Personally I prefer this format to US odds, as it’s more useful to calculate profit in terms of $1 units rather than $100.

### Profit Calculation (Favourites)

**Formula**: [-1/Odds x Stake]

#### Examples

- -2.0 = (-1/-2) = 0.5. Therefore, $0.5 profit on $1 staked.
- -1.25 = (-1/-1.25) = 0.8. Therefore, $80 profit on $100 staked.
- -1.5 = (-1/-1.5) = 2/3. Therefore, $40 profit on $60 staked.

### Profit Calculation (Underdogs)

**Formula**: [Odds x Stake]

#### Examples

- 4.0 = $400 profit on $100 staked.
- 3.0 = $300 profit on $100 staked.
- 5.0 = $250 profit on $50 staked.

### Convert to Decimal (Favourites)

**Formula**: [-1/Odds + 1]

#### Examples

- -5.0 = (-1/-5) +1 = 1/5 + 1 = 1.2 decimal odds.
- -4.0 = (-1/-4) + 1 = 1/4 + 1 = 1.25 decimal odds.
- -1 = (-1/-1) + 1 = 1 + 1 = 2.0 decimal odds.

### Convert to Decimal (Underdogs)

**Formula**: [Odds + 1]

#### Examples

- 5.0 = 5 +1 = 6.0 decimal odds.
- 4.0 = 4 + 1 = 5.0 decimal odds.
- 2.0 = 2 + 1 = 3.0 decimal odds.

To convert Decimal odds of 2.00 or greater to Indonesian odds: (Decimal Odds – 1)To convert Decimal odds of less than 2.00 to Indonesian odds: (-1)/(Decimal Odds -1)

## Malaysian Odds

Malaysian odds are the opposite of the US and Indonesian formats. This time the negative (-) and positive (+) odds are switched over. Negative odds represent the underdog, while Positive odds represent the favbourite. All other calculations remain the same.

### Profit Calculations (Favourites)

**Formula**: [Odds x Stake]

#### Examples

- 5.0 = $500 from on $100 staked.
- 4.0 = $400 profit on $100 staked.
- 1.0 = $50 profit on $50 staked.

### Profit Calculations (Favourites)

**Formula**: [-1/Odds x Stake]

#### Examples

- -2.0 = (-1/-2) = 0.5. Therefore, $0.5 profit on $1 staked.
- -1.25 = (-1/-1.25) = 0.8. Therefore, $80 profit on $100 staked.
- -1.5 = (-1/-1.5) = 2/3. Therefore, $40 profit on $60 staked.

### Convert to Decimal (Positive)

**Formula**: [Odds + 1]

#### Examples

- 5.0 = 6.0 decimal odds.
- 4.0 = 5.0 decimal odds.
- 1.0 = 2.0 decimal odds.

### Convert to Decimal (Negative)

**Formula**: [-1/odds +1]

#### Examples

- -5.0 = -1/-5 + 1 = 1.2 decimal odds.
- -4.0 = -1/-4 + 1 = 1.25 decimal odds.
- -0.6 = -1/-0.6 + 1 = 2.67 decimal odds.

To convert Decimal odds of 2.00 or less to Malay odds: (Decimal Odds – 1)To convert Decimal odds of greater than 2.00 to Malay odds: (-1)/(Decimal Odds -1)

## The Probability (Implied Odds)

Probabilities aren’t used by Bookmakers or the betting exchanges — but if you want to earn from sports betting it’s vital to know how to translate odds into the implied chance (%). The implied chance tells us the % chance, according the odds on offer, of an event happening.

Once you convert your odds, from whatever format you use, into decimal odds then you can very quickly convert them into a implied % value.

### Convert **From** Decimal

**Formula**: [1 / Decimal Odds]

#### Examples

- 5.0 = (1/5) = 0.2 = 20% chance
- 2.0 = (1/2) = 0.5 = 50 % chance
- 1.5 = (1/1.5) = 2/3 = 66.67% chance

### Convert **To** Decimal

**Formula**: [100/Chance %]

#### Examples

- 40% chance = 100/40 = 2.5 decimal odds
- 90% chance = 100/90 = 1.11 decimal odds
- 25% chance = 100/25 = 4.0 decimal odds

## Final Words of Advice

Without a doubt the easiest way to convert your odds is to use a ready-made calculator, such as the Odds Calculator from AceOdds. However, if you’re using excel (or similar) to formulate your own betting strategy, you’ll need to know the formulas behind odds conversions. The above information will help you.

If you have a choice of format, I highly recommend that you get used to using decimal “European” odds — it’s the easiest to work with and, in my opinion, is the most intuitive. Unlike many of the other odds formats listed in this article, decimal odds have no layers to decrypt. Quite simply: the higher the number, the least likely it is to win.

There is one other format that you might wish to learn about: Spread Betting odds. This works much differently to the fixed odds formats shown above, so I’ve published a separate article about it. Check out: Spread Betting Odds Explained.

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