# All You Need to Know About Sports Betting Odds

#### How to Choose the Right Sports Betting Match

Find out how to choose the right sport and match to bet on. Know the different kinds of sports betting matches a...

Find out moreAll You Need to Know About Sports Betting Odds

Find out what sports betting odds are and the different kinds of odds there are. Learn how to compute the odds and see your possible profit.

Winning a bet isn’t simply a case of successfully picking the right team, person, or league with luck. You need to take into consideration the sports betting odds that are laid out for you before you start wagering.

## WHAT ARE SPORTS BETTING ODDS?

Sports Betting Odds is the probability of success where you can determine the amount you can possibly win. With the thousands of online sportsbooks in different countries, there is no one way of understanding the odds.

Most sportsbooks have more than one way of showing the odds for the matches you want to bet on. However, you would have an easier time wagering if you are familiar with the most common betting odds formats.

## BEST ODDS

There are various sports and leagues you can bet on in online sports betting sites. Some of the sports you can bet on are:

- Cricket
- Boxing
- Ice Hockey
- Football
- Basketball
- Baseball
- Horse Racing, and more.

## SPORTS BETTING MARKETS

Different markets for these sports are available on online bookmakers' sites so you would be informed about your chances before you wager on. For cricket sports betting odds, Betwala has you covered for Indian and international matches and leagues.

## Different Kinds of Odds

Decimal

Decimal Odds is one of the most commonly seen odds on betting sites like Sportsbet.io. It’s easy to understand and is usually offered as an option for those who prefer this rather than the fraction odds.

Decimal odds number you will see in betting represents the amount you will win for every €1 you bet. This makes calculating it much easier. You would only take the amount you will use to wager and multiply it to the odds you see.

It’s like this:

**Decimal Formula**

Odds * Stake = Total Payout

Delhi Capitals: 1.40

You wager: €50

Using the formula: 1.40 * €50 = €70 Total Payout

So let’s say that you see your favorite Rajasthan Royals on a sports betting website with a 1.70 odds. You want to wager €100. Using the simple formula above (1.70 * €100 = €170), we can calculate that if Rajasthan Royals win, you would have a total of €170 winnings.

When the odds are higher, it means that there is a lower probability for the team or league to win.

Fraction

One of the most popular formats commonly used in UK Sportsbooks is fractional format. It is as easy as the decimal format with only two things to keep in mind:

- The potential profit is larger than the amount staked if the first number of the fraction is larger than the second number.
- The amount staked is larger than the profit if the second number is larger than the first number.

The formula then would be:

**Fraction Formula**

**First Number is Larger**

(Stake x Odd = Profit) + Initial Stake = Total Payout

**Second Number is Larger**

(Stake/Odd = Profit) + Initial Stake = Total Payout

Keeping these two in mind, let’s say you want to bet on Sunrisers Hyderabad who has the odds of 3/1 and you want to wager €100. Based on the simple formula above ((€100 * 3 = €300) + €100 = €400), then your total payout would be €400.

Now if Sunrisers Hyderabad had an odd of 1/3 then based on the second formula ((€100 / 3 = €33.3) + €100 = €133.3), then your total payout would be €133.3.

Malay

Sports betting is one of favorite pastimes of Malaysians which led to them having their own odds format: the Malay odds.

It is quite similar to Moneyline in that it shows which odds are the favorite and the underdog. Except that it is inverted. By this it means that the favorite takes on the positive (+) sign while the underdog has the minus (-) sign.

No worries though since the calculation is still quite easy to remember. Malay odds for the favorite means that you have over 50% of success in winning. And the underdog has a probability of winning under 50%.

Keeping these in mind, the formula for the total profit is like this:

**Favorite Odd**

(Stake x Odd = Profit) + Stake = Total Payout

**Underdog Odd**

(Stake / Odd = Profit) + Stake = Total Payout

Indonesian

Betting continues to be a common hobby in Indonesia despite it being illegal in their country.

The favorite is still shown with a minus (-) sign and the underdog is accompanied with a positive (+) sign.

Indonesian odds are easier to remember because it shows you how much you will win per €1 stake.

For favorite odd, it shows how much the wager needed for a profit of 1. Then it shows the profit from a wager of 1 for the underdog.

**Indonesian Formula**

**Favorite Odds**

(Stake / Odd = Profit) + Initial Stake = Total Payout

**Underdog Odds**

(Stake x Odds = Profit) + Initial Stake = Total Payout

To understand it better, let’s say that you want to be player of the season in IPL: MS Dhoni vs. Suresh Raina.

**The Odds**

MS Dhoni: -7.14

Suresh Raina: +4.4

You want to compute the possible payout for the two so you are prepared before you wager. Computation for the favorite odd is that you would have to risk 7.14 unit for each unit you won.

So if you bet: €1

The potential win: €1.14

While if you bet: €50

The potential win: €57

For underdog, then the potential win is the betting odd number plus the stake you have.

So if you bet: €1

The potential win: €5.40

While if you bet: €50

The potential win is €270.

Moneyline

Moneyline Odds or American Odds are commonly used around the United States. It’s one of the three popular formats seen in betting sites. It’s quite similar to how decimal odds work. Except that you would be able to easily determine which odds are the favorite or the underdog.

For those of you who are unfamiliar with the terms, the favorite which is accompanied with the minus (-) sign, is the odd which is favored to win. The underdog is a term used for the odd with the less probability of winning. It’s accompanied with a positive (+) sign.

The numbers following the favorite odd indicates the amount you need to risk in order to win €100. The opposite goes for the underdog odd. The amount you see following it shows the amount you will win if you stake €100.

It goes like this. When you go to a sports betting site and you want to wager on your favorite sport: baseball. Then you see there was a game between Kolkata Knight Riders and Rajasthan Royals.

**The Odds**

Kolkata Knight Riders → +340

Rajasthan Royals → -500

In order to know how much your payout will be like then your computation will be like this:

**The Computation**

Kolkata Knight Riders: Since this is the underdog then you would need to wager €100 to possibly win €340. When you add the initial stake of €100 then the total payout would be **€440**.

Rajasthan Royals: If you want to vote on the favorite odd then you will need €500 to win €100. Adding your initial stake into the mix then your **total payout** would be **€600**.

## Profit Calculator

If you are too excited about the chance to win along with your favourite team to compute your possible payout, then you don't have to worry because most online sportsbooks got you covered. This is because some of them have a built-in profit calculator you can use. It shows how much your potential win is once you clicked on the betting odd you want and placed your stake. This means you can just place your wager in a matter of seconds and wait for the results of the match.

This built-in calculator was created to make your betting experience easier. However, you need to check if it is available because not all sports betting sites have this feature.

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