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How do the different betting odds work? (European, English, American)
betting odds formats (European, English, American)
The different betting odds
European oddsEnglish odds
American odds
Most of the time, the bookmakers will propose you the so-called "traditional" odds which are the European odds, and especially the sites approved by the Arjel which all work in European odds in all logic since we are in Europe.
THE EUROPEAN/DECIMAL FORMAT
The European odds also called "decimal odds" are the simplest odds and those used by bookmakers.
European odds are presented in the following format: 1.10 or 1.20 or 2.10 or 15.50, they usually stop at 2 digits after the decimal point and must be greater than 1, because if they were less than 1 it would mean that you could never make a profit when your bets are winning.
How European/Decimal Odds Work?
To calculate your winnings with European odds, you simply multiply your bet amount by the odds. For example, if you want to double your bet, your odds must be at least 2.00.
Here is an example to better understand with a football match between Liverpool and Arsenal:
Odds for Liverpool to win: 1.65
Odds for a draw: 3.10
Odds for an Arsenal win: 4.50
So if you place 1usd on Liverpool winning and Liverpool wins you win 1.65 usd, if you had placed 100 usd the win would have been 165 usd.
In the same way for the draw or 1 usd placed you earn 3.10 usd and for the victory of Arsenal 1 usd placed you earn 4.50 usd it is very simple.
Be careful to distinguish between your total win and your net win:
Total win = stake multiplied by the odds.
Net win = stake multiplied by the odds minus your stake.
ENGLISH FORMAT/FRACTIONAL
Fractional odds ( “British” odds, “U.K.” odds, or “traditional” odds) are popular among British and Irish bookies. They are typically written with a slash (/) or hyphen (-).
How British/Fractional Odds Work ?
For our example, an English odds of 11/17 corresponds to a European odds of 1.65, to find this equivalence you just add 1 to the fraction:
11/17 + 1 = 1,65.
Let's take the Liverpool - Arsenal match from our previous example, in English odds, this gives:
Odds for Liverpool to win: 11/17
Odds for a draw: 19/9
Odds for an Arsenal win: 7/2
So the profit for a 100 usd bet on the Arsenal win is: 100 * 7/2 = 350 usd.
THE AMERICAN FORMAT/MONEY LINE
American odds are - or + style odds. For plus odds this means that if you bet £100 you will win the indicated amount and negative odds means that you will have to bet that amount to win £100. For example if you bet £100 on + £300 odds you will win £300 and on - £200 odds you will have to bet £200 to win £100...Read More
https://www.wawbetting.com/2022/08/how-do-different-betting-odds-work.html
