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Step 6 - Understanding Odds (Part 1)

Understanding Odds and Conversions

Odds are numbers used to calculate how much money punters can win on their stakes for a particular bet. There are three different odd formats that are widely used around the world and they are decimal odds, fraction odds, and whole odds. In Australia we use the decimal format when quoting odds, but other countries use the other two formats as well.

If your betting overseas particularly around Europe, then you will quite often see the fraction odds format in use. While if your betting in America, you’ll need to understand the whole odds format as that is the main method used in America.

Below is some information about each format and an odds conversion table to help you understand. We will use the odds below in an Australian soccer match as an example:

	Decimal	Fraction	Whole
Melbourne Win	1.70	7/10	-143
Draw	3.40	12/5	240
Queensland Win	5.00	4/1	400

Decimal Odds

Decimal odds (aka European Odds) are calculated by multiplying your stake by the odds quoted. If you staked $100 on Melbourne to win in the match above, your return would be $170 if successful. A $100 stake on the draw would return you $340 and the same stake on a Queensland win would return you $500.

Fraction Odds

Fraction Odds (aka British Odds) are calculated differently than decimal odds. When calculating fractional odds you must multiply your stake by the odds, the result will be your profit instead of your return. For example, if you staked $100 on Melbourne to win using the fraction odds format, your profit would be $70 (ie. $100 x 2/5 (or 0.7) = $70). Staking $100 on the draw would return you a profit of $240 ($100 x 12/5 = $240) and the same stake on a Queensland win would earn you $400 ($100 x 4/1 = $400).

Whole Odds

Whole Odds (aka American Odds) are different again as they are divided into negatives and positives, they are also calculated differently again. Whole odds are split into positives and negatives. Negative odds show how big a stake is needed for winning 100 units when betting on a favourite. Positive odds show what the winnings are if you wager 100 units on the non-favourite.

If you wager $100 on Melbourne with the odds above at -143 and your bet is successful, your earnings would be $70, ie ($100 x (100/143) = $70). If wagering $100 on the draw at odds of 240, the profit would be $240 ($100 x (240/100) = $240). Earnings on a $100 stake on odds of 400 would return a profit of $400 ($100 x (400/100) = $400).

Odds Conversion Table

To help you understand odds conversion, we here at Free Bet Info have provided you with the table printed below. You can use this table as a quick guide for converting decimals odds over to fractions and whole odds, or vice versa:

Decimal	Fraction	Whole
1.20	1/5	-500
1.22	2/9	-455
1.25	1/4	-400
1.28	2/7	-358
1.30	3/10	-334
1.33	1/3	-304
1.35	7/20	-286
1.36	4/11	-278
1.40	2/5	-250
1.44	4/9	-228
1.45	9/20	-223
1.47	40/85	-213
1.50	1/2	-200
1.53	8/15	-189
1.57	4/7	-176
1.60	3/5	-167
1.62	8/13	-162
1.63	5/8	-159
1.66	4/6	-152
1.70	7/10	-143
1.72	8/11	-139
1.80	4/5	-125
1.83	5/6	-121
1.90	9/10	-112
1.91	10/11	-110
1.95	20/21	-106
2.00	1/1	100
2.05	21/20	105
2.10	11/10	110
2.20	6/5	120
2.25	5/4	125
2.30	13/10	130
2.38	11/8	138
2.40	7/5	140
2.50	6/4	150
2.60	8/5	160
2.63	13/8	163
2.70	17/10	170
2.75	7/4	175
2.80	9/5	180
2.88	15/8	188
2.90	19/10	190
3.00	2/1	200
3.10	21/10	210
3.13	85/40	213
3.20	11/5	220
3.25	9/4	225
3.30	23/10	230
3.38	95/40	238
3.40	12/5	240
3.50	5/2	250
3.60	13/5	260
3.75	11/4	275
3.80	14/5	280
4.00	3/1	300
4.20	16/5	320
4.33	10/3	333
4.50	7/2	350
4.60	18/5	360
5.00	4/1	400
5.50	9/2	450
6.00	5/1	500
6.50	11/2	550
7.00	6/1	600
7.50	13/2	650
8.00	7/1	700
8.50	15/2	750
9.00	8/1	800
9.50	17/2	850
10.00	9/1	900

Step 7 - Understanding Odds (Part 2) »