Odds Explained

Those new to the world of sports betting will have to quickly get used to how bookmakers price different markets, which are generally known as odds. Customers in India will generally be able to choose between American, decimal or fractional odds, with each varying in format. Our experts have broken down each odds format, perfect for both beginners and experienced betting customers.

Odds

Odds Comparison / Image by Shutterstock / WaveBreakMedia

American Odds

Let’s start by taking a look at what is perhaps the most popular format of odds when it comes to Indian betting, American. American odds look at the favourites and underdogs, with the favourites generally coming with a – symbol, with the higher the number following it, the better their chances of winning are believed to be. An example of this is a cricket team being backed at -200, against an underdog who’s chances are rated at +100 ahead of the first ball being bowled.

American odds use a baseline value of $100, meaning that customers are always risking money to win this amount when betting on favourites, while with underdogs, you risk $100 to win the amount. For example, betting on a -125 favourite means that you must risk $135 in order to win $100 from the bookmaker. Meanwhile, with a +250 underdog, you risk just $100 in order to win $250.

The most common odds in this format are -110, while American odds can also be converted into a percentage, which is helpful when looking to achieve long-term targets using certain odds. American odds are most commonly found from sports including American Football and basketball, with this giving bookmakers influence over the point spread.

Decimal Odds

Decimal style odds are more common in Europe, with calculating them being simple due to the fact that all that is required is to multiply the amount to wager by the price displayed by the bookmaker. The figure in which this equals will be your potential payout, for instance, backing Brazil to win a football match at odds of 1.50 with a bet worth 1000 INR will bring about a total win worth 1500 INR. Decimal odds are available with most online bookmakers, however they are unlikely to be the default setting for most American betting sites. 

Fractional Odds

Fractional odds are commonly used in the UK, originally being found in horse racing markets. This style of odds shows the amount of profit relative to your stake. The number on the left-hand side of the fraction shows how much profit you will make if you stake the amount shown on the right-hand side of the fraction. For example, when betting on a tennis match where your fancied player is backed at odds of 3/1, you will receive the equivalent of £3 for every £1 staked.