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Betting Tutorial - Part 3 - Odds

Odds - What is Odds and How it calculate

Odds are numbers, which are used to calculate how much you can win at a given stake. In general the rule is the higher odds the lower probability of winning. Basically odds can be presented in three different formats. Depending on which markets the bookmaker targets, odds are presented by either the European, British or the American standard. Some bookmakers support more than one of these standards.

Please note, that when converting odds into the British standard, round-off errors may occur, since some odds don't have an exact translation into British-style fractions. Here, will show the nearest fractional odds. Below is an example of how odds are presented in different ways.

Example: Brazil vs. England (Soccer)
	Europe	UK
1: Brazil	1,40	2/5
x: Draw	3,75	11/4
2: England	5,00	4/1

Calculations with the various odds formats are done with a stake of $200 on Brazil to win.

It is important to distinguish between the payout to your betting account after a win, and your winnings, which is the payout minus your stake.

European Odds (decimals)
European odds multiplied by your stake equals the payout. The odds show how many units the bookmaker pays out per unit staked.

Example: Home win to Brazil over England, Euro odds 1.40
Payout:	Stake x Euro odds = $200 x 1.4	= $280
Winning:	Stake x Euro odds = $200 x 1.4	= $280

UK Odds (fractions)
US odds can be divided into positive odds and negative odds. Negative odds show how big a stake is needed for a winning of 100 units. Positive odds show how big your winnings are if you bet 100 units.

Example: Home win to Brazil over England, UK odds 2/5
Payout:	Stake x (UK odds+1) = $200x(2/5+1)	= $280
Winning:	Stake x UK odds = $200 x 2/5	= $280

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Football Betting Tutorial

Part 1 - Rules Of Thumb

Part 2 - Types of Bettings

Part 3 - Odds Calculation

Part 4 - Special Formula

Part 5 - Asian Handicap Odds

Part 6 - What Is Fixed Odds

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