The Three Types of Betting Odds Most Popular Online

Sports betting is a time-honored tradition, that dates back to the ancient world. For many, placing a wager is a simple matter of who would win. However, professional punters understand that betting, for the most part, relies on one thing and one thing alone; mathematics. That is why odds makers work tirelessly to crunch the numbers and come up with fair and sensible odds. But, different odds makers create odds differently. For the most part, betting odds differ based on the region. In this article, we would like to look at the three most popular types of odds online.

Moneyline Odds
Moneyline odds are often called American or US odds, due to the fact that they are most popular in the United States of America. American bookies, both online and offline, mostly rely on moneyline odds, and that is what most American bettors are familiar with. So, how do they work? When creating moneyline odds, the odds makers assign certain numbers to the favorite and the underdog. These numbers are either positive or negative, and start at 100. As an example, moneyline odds may look like the example below:

Team X: +320
Team Y: -230

In this case, the “+” indicates that Team X is the underdog. The number “320” means that for each $100 wager you place on Team X, you are going to win $320 (for a total of $420 return), provided the underdog team wins. On the other hand, the “-“ indicates that Team Y is the favorite. Meaning that the “230” is the amount you have to wager in order to win $100 (for a total return of $330). While it may look complicated, once you understand them, moneyline odds aren’t as tough as they seem at first.
Decimal Odds
In Europe’s mainland, most people are familiar with decimal odds, which is why they are often called European. As the name suggests, decimal odds rely on decimal number points. In this case, the higher decimal number indicates that a team or athlete is the underdog, and the lower one indicates the
favorite to win the game. Furthermore, the decimal numbers also indicate the amount of money you will win, per each 1 Euro wager, should your chosen team win. For example, if a player has a 3,15 odds to win a tennis match, and you wager 100 Euros, then on a win, you would get 315 Euros.
Fractional Odds
Though Europe relies mostly on decimal odds, in Great Britain and Ireland, the bettors are most familiar with fractions. Like the rest of the odds mentioned, fractional odds have a specific formula, which can help you better understand how they work.

For simplicity’s sake, we are going to look at the basics of fractional odds in this article though. In fraction odds, the higher number represents the amount of cash you can win, whereas the lower number represents the amount you have to wager. As an example, we can look at the following;

Team A: 6/1
Team B: 3/2

In this case, Team A is the underdog, as they require a single 1 Pound bet for a 6 Pound payout. On the other hand, Team B requires a 2 Pound bet, for a 3 Pound payout.