Three different formats express the same information: how much you'll be paid and what probability the market assigns to this outcome. Understanding all three makes you a better bettor, especially when betting on international sports markets.
American Odds
The standard in US sportsbooks. Negative numbers indicate favorites; positive numbers indicate underdogs.
Negative odds (-150): How much you must bet to win $100
- Bet $150, win $100 profit ($250 returned)
- Implied probability: 150 / (150 + 100) = 60%
Positive odds (+200): How much $100 wins you
- Bet $100, win $200 profit ($300 returned)
- Implied probability: 100 / (200 + 100) = 33.3%
Decimal Odds
Used throughout Europe, Australia, and Canada. Expressed as the total payout per $1 wagered including your stake.
- 1.67 = -150 American (bet $1, get $1.67 back = $0.67 profit)
- 3.00 = +200 American (bet $1, get $3.00 back = $2.00 profit)
- 2.00 = +100 American (even money)
Implied probability from decimal odds: 1 / decimal odds
- 1.67 → 1 / 1.67 = 59.9% ≈ 60%
Converting American to decimal: Negative odds → 1 + (100 / |American|). Positive odds → 1 + (American / 100).
Fractional Odds
Standard in UK horse racing and traditional bookmakers. Shows profit relative to stake.
- 1/2 = win $1 for every $2 wagered = -200 American
- 2/1 = win $2 for every $1 wagered = +200 American
- Evens (1/1) = even money = +100 American
Quick Conversion Reference
| American | Decimal | Fractional | Implied Probability | |—————|————-|——————|——————————-| | -200 | 1.50 | 1/2 | 66.7% | | -110 | 1.91 | 10/11 | 52.4% | | +100 | 2.00 | 1/1 | 50.0% | | +150 | 2.50 | 3/2 | 40.0% | | +300 | 4.00 | 3/1 | 25.0% |
[Oddible converts odds and shows implied probability automatically →]
