Anyone who has, at least, once set foot in a local bookmaker knows what the most commonly used odds look like and can easily calculate a possible win. These odds are known as decimal odds, but they are not the only ones used in online bookmakers. In addition to them, there are also fractional, American, Hong Kong, Malaysian, and Indonesian odds.
Here we give an overview of all six types of betting odds and when you figure out how are they calculated, here choose an online bookmaker that provides odds you prefer using the most…
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1. Decimal Odds
They are also known as European odds because they are mainly used in European (except Great Britain and Ireland) bookmakers. Payment is calculated very simply – by multiplying the odd and the payment. Net profit is the payout.
Example:
- If your bet is € 10 on a win of Team 1 with odds of 9.00, then the payout is 9.00 x 10 = € 90.
- If your bet is € 10 on a draw with odds of 5.00, then the payout is 5.00 x 10 = € 50.
- If your bet is € 10 on a win of Team 2 with odds of 1.25, then the payout is 1.25 x 10 = € 12.5.
2. Fractional Odds
They are also known as British odds because they are mainly used in Great Britain and Ireland. The odds are represented as fractions (e.g. 3/4) and the easiest way to understand them is that the number in the denominator represents the stake and the number in the numerator the gain. This would mean, for 3/4, that for the 4 units invested, the gain is 3 units.
The conversion of fractional odds into decimals is done by dividing the fraction and adding 1, so 3/4 = 1.75 (0.75 + 1). The odds of 2.00 are known as Evens.
Example:
- If you bet € 1 on a Team 1 to win, your winnings are € 8 and the total payout is € 9 (€ 1 bet + € 8 winnings).
- If you bet € 1 on a draw, your winnings are € 4 and the total payout is € 5 (€ 1 stake + € 4 winnings).
- If you bet € 4 on a Team 2 to win, your winnings are € 1 and the total payout is € 5 (€ 4 bet + € 1 win).
3. American Odds
They are used in U.S. bookmakers, and their feature is that they can be both positive and negative.
The positive ones say how much you will get if you invest $ 100, and they are converted to decimal by dividing by 100 and adding 1 (e.g.: American odds +250 = 250/100 + 1 = 2.5 +1 = 3.5 decimal odds). The negative ones say how much you need to invest to get $ 100, and are converted into decimal ones by dividing 100 by the American odds without minus and adding 1 (e.g.: American odds -250 = 100/250 +1 = 0.4 +1 = 1.4 decimal odds).
The odds of 2.00 can be written in the American way as +100, -100, or Evens.
Example:
- If you bet $ 100 on a win of Team 1, your winnings are $ 800 and the total payout is $ 900 ($ 100 bet + $ 800 winnings).
- If you bet $ 100 on a draw, your winnings are $ 400 and the total payout is $ 500 ($ 100 stake + $ 400 winnings).
- If you bet $ 400 on a Team 2 to win, your winnings are $ 100 and the total payout is $ 500 ($ 400 stake + $ 100 winnings).
4. Hong Kong Odds
They are also known as the HK odds or even somewhere as the Chinese odds, and are the most popular form in Asian bookmakers. These odds show what the gain per unit of stake is, so it is essentially equal to the fractional odds, only it is written in decimal form.
It is recalculated in the form of decimal odds by adding 1 (e.g.: HK odds 0.7 = 0.7 + 1 = 1.7 decimal odds).
Example:
- If you bet € 10 on a Team 1 to win, your winnings are € 80 (€ 10 x 8) and the total payout is € 90 (€ 10 bet + € 80 winnings).
- If you bet € 10 on a draw, your winnings are € 40 (€ 10 x 4) and the total payout is € 50 (€ 10 stake + € 40 winnings).
- If you bet € 10 on a Team 2 to win, your winnings are € 2.5 (€ 10 x 0.25) and the total payout is € 12.5 (€ 10 bet + € 2.5 win).
5. Malaysian Odds
They are also known as Malay odds and are one of the forms that can be found in Asian bookmakers. Like American odds, these can be both positive and negative.
The positive ones show gain per unit of stake and are converted to decimal by adding 1 (e.g.: Malaysian odds 0.3 = 0.3 + 1 = 1.3 decimal odds). The negative ones show how many units need to be invested to get one unit. They are converted to decimal according to the formula 1 + 1 / Malaysian odds (e.g.: Malaysian odds – 0.3 = 1+ 1/3 = 1 + 0.33 = 1.33 decimal odds). In the calculations, the Malaysian odds are always taken without minus, i.e. as a positive value.
Example:
- If you bet € 0.125 on a Team 1 to win, your winnings are € 1 and the total payout is € 1,125 (€ 0.125 bet + € 1 win).
- If you bet € 0.25 on a draw, your winnings are € 1 and the total payout is € 1.4 (€ 0.25 stake + € 1 winning).
- If you bet € 1 to a win of Team 2, your winnings are € 0.25 and the total payout is € 1.25 (€ 1 bet + € 0.25 winnings).
6. Indonesian Odds
Also known as the Indo odds, they are found in Asian bookmakers and are essentially equal to the American odds, only divided by 100. Just like the American odds, they can be both positive and negative.
The positive ones show the profit per unit of stakes and are converted into decimal ones by adding 1 (e.g.: Indonesian odds 2.2 = 2.2 + 1 = 3.2 decimal odds). The negative ones show what the stake must be in order to receive a unit of stake and are recalculated according to the formula: 1 + 1 / Indonesian odds (e.g.: Indonesian odds -5 = 1+ 1/5 = 1 + 0.2 = 1.2 decimal odds).
In the calculations, the Indonesian odds are always taken without minus, i.e. as a positive value.
Example:
- If your bet is € 1 to a win of Team 1, your winnings are € 8 and the total payout is € 9 (€ 1 bet + € 8 winnings).
- If your bet is € 1 on a draw, your winnings are € 4 and the total payout is € 5 (€ 1 bet + € 4 winnings).
- If your bet is € 4 to a win of Team 2, your winnings are € 1 and the total payout is € 5 (€ 4 bet + € 1 win).
