As known from:
The SunFootball365Sportskeeda
Alerts
Latest Deals
Write a Review
Write a Review
Nothing Found
About betting.net
  • Betting.net on YouTube
  • About betting.net
  • The betting.net Crew
  • How We Rate
  • Play Responsibly
  • Contact us
  • Writers Wanted
  • Content Disclaimer
  • Affiliate Disclosure
Contains commercial content
Alerts
Latest Deals
Write a Review
Write a Review
Nothing Found
About betting.net
  • Betting.net on YouTube
  • About betting.net
  • The betting.net Crew
  • How We Rate
  • Play Responsibly
  • Contact us
  • Writers Wanted
  • Content Disclaimer
  • Affiliate Disclosure
Betting.net / What is Odds? Odds Explained in 2 minutes

What is Odds? Odds Explained in 2 minutes

Publish Date: March 31, 2021
Fact checked by: Jesse M Cox

Betting odds are a numerical indicator of the probability of an event happening – and also a way to work out how much can be won by betting on the odds in question.

Traditionally – in the UK – odds were presented as fractions. For example, a horse may be priced at 4/1 to win a race. But now many bookmakers and bettors use the decimal format (in this case the horse would have odds of 5.0). There is also an American version that can be used as well.

How are Odds used in Sports Betting?

Odds are vital in sports betting, as they are the way every single market is listed – indicating the probability of an event occurring. Anyone new to betting should first learn what the odds mean and also what they indicate.

To work out the probability percentage of odds a simple formula can be used:

Probability % = B / (A+B)

With the earlier example of 4/1 the 4 is ‘A’ and the 1 is ‘B’ meaning that:

1 / (4 + 1) = 0.20

This means that a 4/1 price suggests that there is a 20% chance of that horse winning the race. The skill in studying the odds is to find the value and bet accordingly. Obviously longer odds will give bettors more winnings but there is less chance of the prediction coming true.

Did you know…

Leicester City were famously 5,000/1 to win the 2015-16 Premier League – and some lucky bettors made a lot of money thanks to one of the greatest upsets in modern football. But as Leicester started that season so well their odds had already shrunk to 10/1 by Christmas and they were odds-on to win by the middle of March.

See also

Best Odds Guarantee

Enhanced Odds

Favourite

Fixed Odds

Fractional Odds

Odds-against

Outsider

Read Also
What is Short Price? Short Price Explained in 2 minutes
The price of a horse in any given race refers to the ...
What is Racecard? Racecard Explained in 2 minutes
Each race meeting in Britain has a race card, which lists the ...
BetMGM Promo
What is Distance in Horse Racing?
The term distance has two meanings in horse racing: the journey covered ...
What is American Odds? American Odds Explained in 2 minutes
American odds are also known as moneylines, and, like other odds, are ...
What are Even Money Odds? Even Money Odds Explained
What are even odds in betting? Even money – or evens – ...
Sportsbook of the month
PointsBet - Get your Bonus Bet now!
-
Top Betting Sites
Top Betting Bonuses
DraftKings
DraftKings
DraftKings Review
4.6/5
FanDuel
FanDuel
FanDuel Review
4.6/5
BetMGM
BetMGM
BetMGM Review
4.5/5
Bet365
Bet365
Bet365 Review
4.5/5
BetRivers.com
BetRivers.com
BetRivers.com Review
4.5/5
DraftKings
DraftKings Bonus
No Sweat First Bet up to $1,000
T&Cs apply
4.6/5
FanDuel
FanDuel Bonus
Bet $5 Get $150 in Bonus Bets
T&Cs apply
4.6/5
BetMGM
BetMGM Bonus
Bet $5 Get $150 Instantly in Bonus Bets
T&Cs apply
4.5/5
Bet365
Bet365 Bonus
First Bet Safety Net up to $2000 OR Bet $5 and Get $150
T&Cs apply
4.5/5
At bet365 we don't do ordinary, that's why if you sign up now you'll get the choice of two great New Customer Offers, the First Bet Safety Net up to $2000 or Bet $5 and Get $150 in Bonus Bets. Deposit required. Bonus Bets wager excluded from returns. T&Cs, time limits and exclusions apply. Gambling Problem? Call 1-800-Gambler 21+
BetRivers.com
BetRivers.com Bonus
100% up to $500
T&Cs apply
4.5/5
All Odds Categories
Show More
Latest News
Gates of Bitcasino grants a max win, worth $2.5 million
A lucky player won $2.5 million on Gates ...
Thunderkick partners with Betway, strengthening foothold in UK
Independent slot developer Thunderkick signed a partnership deal ...
Delaware Park re-opens with new Vegas glamor after $10M upgrade
The Delaware Park Casino recently unveiled its upgraded ...
Petersburg awaits casino vote, Richmond faces setback
Petersburg, Virginia, seeks to host a commercial casino ...
Vermont greenlights sports betting, approves three major operators
Vermont officially legalized sports betting on Thursday, January ...
Get the latest updates in Sports and Casino via our Newsletter
Poker & Bingo

Full coverage of poker and bingo, from reviews of providers to guides and much more besides!

Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.

Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

This site is using Cloudflare and adheres to the Google Safe Browsing Program. We adapted Google's Privacy Guidelines to keep your data safe at all times.

21+NCPG
Close
Players accepted in the US US Flag
Stake.us Exclusive Bonus
$55 Stake Cash + 260K Gold Coins + 5% Rakeback
Promo Code
Copy
Visit Site
T&Cs apply, 18+
Payment Methods
Bitcoin
Litecoin
Ethereum
Dogecoin
Highlights
  • Exclusive promo code: BETCRYPTO
  • Drake loves this social casino!
  • Play for free with Gold Coins!
Stake Originals
Dice
Crash
Plinko
Mines
×
Your Bonus Code:
The bonus offer of was already opened in an additional window. If not, you can open it also by clicking the following link:
Visit Site