Gambling on sports competitions is available all over the world. Whether you are in Las Vegas or Maastricht, you can place bets on sports matches anywhere. Still, there are some regional differences in the offering of odds. If you know the differences, you can bet with any international bookmaker.
European way with decimal odds when betting is arguably the most popular. The odds for a bet would then be, for example, 2.07 or 3.5.
If you want to calculate what you can win, all you have to do is multiply the odds by your bet. If you bet €5 with odds of 3.0, you will be paid €15.
European odds cannot, therefore, be lower than 1.0. You could never make a profit with odds lower than 1.0.
In Great Britain and Ireland, they work with fractional odds. At first glance, they seem difficult, but it is a normal mathematical equation.
With 3/1 odds, the first number x bet represents the net profit you can achieve. So with a bet of €1, that is €3.
These are used in the American bookies and the “sportsbooks” of Las Vegas. You have positive and negative odds here, and they are shown with a + and – sign.
The negative odds are next to the favorite. The higher the negative odds, the bigger the favorite wins. The negative number indicates how much you have to bet to win €100. With odds of -167, you have to bet €167 to win €100.
Positive odds represent the underdog. There is a + in a bet, and then you have less chance of winning. You calculate this differently. Let us explain it with an easy example. If you bet €100 on odds of +280, you win €280.
How to Convert Odds?
You can easily find a conversion tool on the internet. If you still want to calculate it yourself, follow the following logical steps.
Let’s say you want to bet €10 on a 2.50 decimal odds with a European bookmaker. With these odds, you hope for a payout of €25. That is a net profit of €15 plus your stake of €10.
Suppose you want to know which odds at a British bookmaker can give you €15 profit with a bet of €10. You can calculate it like this. The British work with fractions and this bet could be written as 15/10. If you then simplify the fraction, you get fractional odds of 3/2.
To convert decimal odds to American odds, you can follow a simple trick. Just subtract 1.00 from your European odds and multiply it by 10. The following formula applies: American odds = (European odds -1) x 10. In this example, the American odds are calculated as follows: (2.50 – 1) x 10 = +15.
Are There Any Other Odds Elsewhere in the World?
Yes, especially in Asia you can find other types of odds. We are talking about the Hong Kong odds, Malaysian odds, and Indonesian odds. You will not come across these at the European bookmakers.