There are 3 major types of odds formats: the decimal one, the fractional one and the american one. Though you can choose your preffered odds format at virtually any bookmaker online, it`s always a good idea to be informed. So let`s see how the “Big 3” odds formats work.
The Decimal format (european)
This is the most widespread and easy to understand odds format. You simply multiply the odds with the stake: for example, if you bet 100$ on odds of 1.75 you will win a grand total of 175$, with 75$ being the net profit.
The Fractional format (british)
Still very popular in british countries, this odds format uses, as the name says, fractions.
You can easily do the transformation to decimal odds. For example, if you have odds of 5/4, what you need to do is ad “5” and “4” and then divide by “4”. You will get a result of 2.25, wich is the equivalent of 5/4 in the decimal format. More clearly, the formula to transform fractional odds of a/b into decimal odds is (a+b)/b.
If you don`t want to convert the fractional odds into decimal this is what you do: let`s say you want to bet 20$ on the same 5/4 odds. What you need to do is to multiply 20 by 5, and then divide by 4. You will get a result of 25, this being the profit you will make on your bet. So, the formula to calculate your winnings for fractionall odds of a/b is a*stake/b.
The american format
Less used in modern times, the american odds format is still existent in the industry, especially in the United States (not surprisingly). It can seem complicated, but it`s not. It uses the “100$” system.
If you have a positive odds value (like +200), this is the net profit you will make for a 100$ bet. So, you bet 100$ on odds +200 and you win a total of 300$, 200$ being the profit.
If you have a negative odds value (like -200), this is the amount of money you need to invest in order to make a profit of 100$. So you bet 200$ on odds -200 and you win a total of 300$, 100$ being the profit.