Hong Kong odds, known as HK odds, are commonly used in Hong Kong and parts of Asia
What Are Hong Kong Odds?
Hong Kong odds are a popular format for expressing the potential winnings of a bet. The format is widely used in Hong Kong and some other Asian countries.
Hong Kong odds are presented as a positive number with two decimal places, such as 0.50 or 1.75. Although very similar to the decimal odds format, Hong Kong odds represent the potential winnings (profit) per unit staked, not the return; this is the fundamental difference.
The formula for calculating profit from a bet using Hong Kong odds is as follows:
Profit = stake x odds
For example, if you bet HK$100 at odds of 0.50, your potential profit would be HK$50 (HK$100 x 0.50 = HK$50), with a return of HK$150 (HK$50 profit + HK$100 stake).
It’s important to note that the higher the Hong Kong odds, the lower the implied probability of the bet winning. To calculate the implied probability of Hong Kong odds, you can use the following formula:
Implied Probability = (1 / (odds + 1)) x 100
Let’s say you have Hong Kong odds of 0.50 for an event. The implied probability is calculated as: (1 / (0.50 + 1) x 100 = 0.666 x 100 = 66.67%
Manchester United to win against Chelsea at odds of 0.75 with a stake of HK$500:
- Return = stake x (odds + 1) = HK$500 x (0.75 + 1) = HK$875
- Profit = stake x odds = HK$375
Rafael Nadal to win the French Open at odds of 1.25 with a stake of HK$1,000:
- Return = stake x (odds + 1) = HK$1,000 x (1.25 + 1) = HK$2,250
- Profit = stake x odds = HK$1,250
Golden State Warriors to win the NBA Championship at odds of 0.5 with a stake of HK$2,000:
- Return = stake x (odds + 1) = HK$2,000 x (0.5 + 1) = HK$3,000
- Profit = stake x odds = HK$1,000
Pros & Cons of Hong Kong Odds
Here are the main pros and cons of using the Hong Kong odds format in betting:
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