Demystifying Sportsbook Betting Odds and Payouts: Your Ultimate Guide
Betting odds can be presented in three main formats: fractional (British) odds, decimal (European) odds, and money line (American) odds. While these formats look different, they ultimately convey the same information about potential payouts.
British/Fractional Odds
Overview:
Fractional odds, also known as "British" or "U.K." odds, are commonly used by bookmakers in the UK and Ireland. These odds are presented as a ratio, such as 6/1, and indicate the profit you will make on a bet relative to the stake.
Example:
Odds: 6/1 (six-to-one)
For every $1 wagered, you will win $6 in profit.
Total Payout: A $1 bet returns $7 ($6 profit + $1 stake).
Calculation:
Bet $10 at 6/1: You win $60 in profit.
Total Payout: $70 ($60 profit + $10 stake).
European/Decimal Odds
Overview:
Decimal odds, also known as "European" or "continental" odds, are popular in Europe, Australia, New Zealand, and Canada. These odds are straightforward, showing the total payout for every $1 wagered, including the stake.
Example:
Odds: 2.00 for Manchester United and 2.60 for Liverpool.
A $100 bet on Manchester United returns a total of $200.
Profit: $100 ($200 total payout - $100 stake).
A $100 bet on Liverpool returns a total of $260.
Profit: $160 ($260 total payout - $100 stake).
Calculation:
Manchester United: $100 x 2.00 = $200 total payout.
Liverpool: $100 x 2.60 = $260 total payout.
Higher decimal odds indicate a less likely outcome but offer a higher payout if successful.
American/Money Line Odds
Overview:
Money line odds, also known as "American" or "U.S." odds, are prevalent in the United States. These odds are presented with either a positive (+) or negative (-) sign. Positive odds indicate the potential profit on a $100 bet, while negative odds show the amount you need to bet to win $100.
Example:
Steelers: +585
Chiefs: -760
Calculation:
Betting $100 on the Steelers (+585):
Profit: $585.
Total Payout: $685 ($585 profit + $100 stake).
Betting $760 on the Chiefs (-760):
Profit: $100.
Total Payout: $860 ($100 profit + $760 stake).
Positive odds suggest an underdog, offering a higher payout for a less likely outcome. Negative odds indicate a favorite, requiring a larger bet for a smaller profit.
How to Change Odds Format on Bombastic Sportsbook
To change the odds format, scroll to the bottom of the Bombastic Sportsbook page. On the bottom left-hand side, use the drop-down menu to select your preferred format (Fractional, Decimal, or American).
