Betting Odds are simply a measure of probability. They represent the most likely outcome of a particular event.

Calculating the implied probability in negative American odds is fairly straightforward: Implied probability = negative odds divided by (negative odds – 100) So in our example, the Bulls are at odds of -140 to win the game. What is the implied probability of these odds? The odds will change heavily if the team makes a late swap. Vegas Odds & Betting Lines. Betting is popular across the US, with many forms taking differing priorities. With Nevada seen as the hub of betting in the country, gamblers flock to Las Vegas to experience the thrills of betting, both on casino games and sporting events.

Probability

Probability is the likelihood of an event happening.

Low Probability means that the event is unlikely to happen, and the betting odds will be higher.

High probability means that the event is likely to happen, and the betting odds will be lower.

Below is how bookmakers display their odds:

Fractional betting odds are the traditional way of showing odds in the UK. They show the total to be paid out for a successful bet in relation to the stake.

Betting £1 at Odds of 5/1 would return £6. You win £5 plus your stake of £1.

Be careful you are looking at the fraction correctly because:-

Betting £1 at Odds of 1/5 would return £1.20. You win 20p plus your stake of £1.

Decimal betting odds are more common in Europe. They show an outcome equivalent to the decimal value of the fractional odds plus one.

5/1 would be Decimal 6.
Betting £1 on Decimal 6 would return £6.

1/5 would be Decimal 1.2.
Betting £1 on Decimal 6 would return £1.20.

American betting Odds are also known as Moneyline or US Odds. The figure quoted will be either positive or negative.

If they are shown with a + sign it means how much you would win on a £100 stake.

If they are shown with a – sign it means how much you would have to stake to win £100.

5/1 (Decimal 6) would be +500.
Betting £1 on US +500 would return £6.

1/5 (Decimal 1.2) would be -500
Betting £1 on Us -500 would return £1.20

what does 2 / 1 odds mean in betting

2 to 1 odds or 2/1 is a way of displaying the decimal odds 3.

In probablitiy terms, there is 1 in 3 chance of the selection winning.

If you place a bet of £10 on odds of 2/1 and your selection wins, you will win £20 plus your stake of £10 will be returned. So the outcome would be £30.

what does 1 / 2 odds mean in betting

1 to 2 odds or 1/2 is a way of displaying the decimal odds 1.5.

In probablitiy terms, there is 2 in 3 chance of the selection winning.

If you place a bet of £10 on odds of 1/2 and your selection wins, you will win £5 plus your stake of £10 will be returned. So the outcome would be £15.

what does 5 / 2 odds mean in betting

5 to 2 odds or 5/2 is a way of displaying the decimal odds 3.5.

In probablitiy terms, there is 28.57% chance of the selection winning.

If you place a bet of £10 on odds of 5/2 and your selection wins, you will win £25 plus your stake of £10 will be returned. So the outcome would be £35.

what does 2 / 5 odds mean in betting

2 to 5 odds or 2/5 is a way of displaying the decimal odds 1.5.

In probablitiy terms, there is 71.42 chance of the selection winning.

If you place a bet of £10 on odds of 2/5 and your selection wins, you will win £4 plus your stake of £10 will be returned. So the outcome would be £14.

Best way to display odds

We find that changing the odds format to decimal really helps new bettors understanding odds. Fractions can get confusing especially during a time sensitive time like before a race.

Convert Fractions to Decimal

We have put together a great odds conversion table to help you change fractions to decimals.

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