How to read betting odds
In short
Odds tell you how much you get back for every unit you stake. At decimal odds of 2.50, a 100 stake returns 250 if you win, a profit of 150. The same price in fractional odds is 6/4. The probability the odds imply is one divided by the decimal odds.
What the number means
Most international sites show decimal odds. To see your return, multiply your stake by the odds. The figure you get includes the stake itself.
Example: 100 at 1.80 returns 180, a profit of 80. 100 at 4.00 returns 400, a profit of 300.
Decimal and fractional odds
UK bookmakers often show fractional odds. 6/4 means you win 6 for every 4 you stake, plus your stake back. To convert, divide the fraction and add 1: 6/4 is 1.5, plus 1 gives 2.50. Evens (1/1) is 2.00, and 3/1 is 4.00.
Odds and probability
You can turn odds into an implied probability: divide 1 by the decimal odds. Odds of 2.00 imply a 50% chance. Odds of 4.00 imply 25%. Short odds mean the outcome is expected, long odds mean it is less likely.
Remember this is the market's estimate, not a promise.
What the bookmaker's margin is
Add up the implied probabilities of every outcome in a match and you get more than 100%. The difference is the site's built-in margin. When you compare sites, the higher odds on the same outcome are better for you.
Odds on an acca
In an accumulator, all the odds are multiplied. Three selections at 2.00 each give odds of 8.00, but if just one fails, the whole bet is lost.
Frequently asked questions
What do betting odds mean?
They show how much you get back for every unit you stake, including the stake, if your outcome wins.
How do I work out my winnings?
Multiply your stake by the decimal odds. A stake of 50 at 3.00 returns 150, a profit of 100.
How do I convert fractional odds to decimal?
Divide the top number by the bottom number and add 1. So 5/2 is 2.5 plus 1, which gives 3.50.
Why do odds change during a match?
Because the match changes. A goal, a red card or an injury shifts the chances, and the odds update straight away.
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These guides are general information, not financial or legal advice. Gambling is for adults aged 21 and over only, subject to the law and availability where you live. Please gamble responsibly.