Let’s assume the odds for Real Madrid CF 4/6 are, and RCD Mallorca are 6/5. So, the sportsbook will do the calculations based on that and give you odds. The underdog and the favourite in this situation would be predicted based on the clubs’ recent performance, whose home ground the match is taking place in, and other external or internal factors. Let’s assume a La Liga matchup is to take place this season between clubs Real Madrid CF and RCD Mallorca. To understand it better, let’s take a look at an example. One set is for the underdog, and one is for the favourite to win. Underdog/ FavouriteĪny sportsbook will give you two sets of odds for a matchup. You can use a fractional odds calculator to calculate your winnings in case you’re confused. To break it down, your initial stake was 10, and your profit was 5, bringing your total winnings to 15. So, if your stake is 10, your winnings will be (10 x (3/2)) = 15. The numerator is the amount you can potentially win, and the denominator is the amount you bet or stake. For example, if your odds are 3/2, where 3 is the numerator, and 2 is the denominator. These odds are written in the format of a proper or improper fraction. These odds have been used for a long time, and if you’re going to bet on sports, we suggest you take the time to learn about them. However, most online sportsbooks will give you the option to change the default odds to fractional odds. Not all sportsbooks use the same odds format, and sometimes it can get complicated trying to understand what the odds mean while simultaneously placing a bet.įractional is not the most commonly used odds format. We also gave some in-depth analysis on how to understand the kinds of odds, how to read them and what each of them means. And we’re going to be discussing those for this article. There are usually three types of odds that are commonly used at most offline or online sportsbooks. Of course, we’re not saying that you absolutely have to understand the mathematical aspect of it, but it sure helps.Īmong the betting terms, sports betting odds and understanding the types should be your primary focus. Sports betting is an activity that requires the bettor to have a sound understanding of all the sports betting terms and mathematical calculations related to sports betting. Betting Odds Explained – Detailed Guide Fractional Odds Explained Decimal Odds Explained Percentage Odds Explained Money Line Odds Explained Betting Odds FAQs

Understanding odds in sports betting