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Decimal odds are often called European odds, as they are most commonly used by sports bettors in Europe, but they are also widely used in Australia and Canada. They are simple to understand, making them a favorite across the world for bookmakers and sports bettors. If you choose to bet with an offshore sportsbook, the chances are you’ll come across decimal odds. These odds (also known as European odds) are popular in Europe, Canada and Australia. The good news is that decimal odds are easy to understand, with a little help from our experts.
On this page, you can learn about how decimal odds work and how to understand them. We’ve also provided a few examples to get you off to a flying start. Read on to master decimal odds today.
Decimal odds are the standard and most popular method for specifying odds across the globe, particularly in Europe, Canada and Australia. As such, Decimal odds can also be called European Odds or Continental Odds.
Decimal odds show the total amount you will get back if your bet wins for every 1 unit you stake. Unlike other types of odds, decimal odds always include the initial stake in the return rather than just the profit. If 1 unit is £10.00, then you would get back £25.00 if the decimal odds were on offer at 2.50. This £25.00 return would be made up of £15.00 profit and £10.00 initial stake.
With decimal odds, 2.00 is seen as evens. This means that you would double your money if you were to place a bet at 2.00 – that is your initial stake back as well as the amount you staked as profit. Anything under decimal odds of 2.00 is described as ‘odds on’ and is seen as being more likely to happen as it has a greater than 50% chance of winning. Where a bet is ‘odds on’, you need to stake more than you will make in profit – for example, decimal odds of 1.40 would see a profit of 0.4 units for every 1 unit wagered. Anything above decimal odds of 2.00 is described as ‘odds against’ and is seen as being less likely to occur due to having less than 50% chance of winning. When a bet is ‘odds against’, you will make a profit of more than your initial stake should the bet win – for example, decimal odds of 2.75 would see a return of 2.75 units – including a profit of 1.75 units – for every 1 unit staked.
The majority of online bookmakers have built in functionality on their websites to allow you to easily change the format of odds should you wish to. This is usually found either in your account settings or as an option to choose from when looking at the available bets via a drop-down box. This takes the hard work out of manually converting odds as the websites do it for you automatically.
Should you wish to convert decimal odds to fractional though, this can be done by:
Decimal odds also make it very easy to find the best price when comparing the same bet across multiple bookmakers, unlike other odds formats. The best odds are represented by the highest number – find the biggest number and you know that you will get the best return for your stake.
As decimal odds usually are written to two decimal places, this provides the bettor with even more accuracy.
Stake x Odds = Return
In baseball, if New York Yankees are favourites at odds of 1.66 to beat New York Mets who are the underdogs at odds of 2.35 and you stake $50.00 on New York Yankees to win:
$50.00 stake x 1.66 odds = $83.00 return
You would win $83.00 if New York Yankees win, which is made up of your initial $50.00 stake and $33.00 profit.
In cricket, if Australia are favourites to win the World Cup at odds of 4.50 and you stake £100 on them to lift the trophy:
£100.00 stake x 4.50 odds = £450.00
You would win £450.00 if Australia win, which is made up of the £100.00 stake and £350.00 profit.
In football, if Real Madrid are favourites at odds of 2.10 to beat Atletico Madrid and Barcelona are favourites at odds of 1.45 to beat Sevilla and you stake €20.00 on a double of Real Madrid and Barcelona:
2.10 odds x 1.45 odds = 3.045
€20.00 stake x 3.045 odds = €60.90
You would win €60.90 if Real Madrid AND Barcelona win, which is made up of the €20.00 stake and €40.90 profit.
Just remember that when using decimal odds, your original stake is calculated into your potential winnings. When determining your potential net profit, always remember to account for your original stake.
The break-even odds for decimal are 2.0, as these odds will simply double your stake. Decimal odds below 2.0 are less than even money odds, meaning the potential return will be less than your stake. Odds above 2.0 are positive odds, meaning your potential return will be more than your stake.
Decimal odds are also the most economical way to bet parlays, because the true odds will be calculated. Unlike traditional parlays which are calculated by the number of teams, parlays bets placed with decimal odds with give sports bettors the fairest and most accurate odds, maximizing their edge, so keep this in mind when using the best betting sites.
Decimal odds are the most widely used odds across continental Europe and continue to spread to other parts of the world. It is imperative for the modern day sports bettor to understand decimal odds, as they are used at many online betting sites and betting exchanges. Decimal is one of many odds formats used by sports betting companies to present the likelihood of something happening or not happening. Decimal odds are always presented in decimal format and may have no, one, or two decimal places. For example, you may see decimal odds of 2, 2.0, or 2.00.
The equivalent of even odds (1/1) in decimal is 2.00. This simply means you are betting one unit to win one unit (1 1 = 2). For instance, a $100 bet at odds of 2.00 would return $200 ($100 in winnings your $100 stake). Fractional odds of 1/2 equal 1.50 in decimal odds. A line that is odds-on in decimal format will always be a decimal of 1. As fractional odds of 1/2 mean you will receive £1 for every $2 you bet, the decimal equivalent is 1.50 and the implied probability remains 66.7%.
