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

Last Updated on January 16, 2023
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 Racecard? Racecard Explained in 2 minutes
What is a Race card? Each race meeting in Britain has a ...
What is American Odds? American Odds Explained in 2 minutes
What Are American Odds? American odds are also known as moneylines, and, ...
SI Sportsbook Promo
What is Decimal Odds? Decimal Odds Explained in 2 minutes
The odds on a bet represent the bookie’s calculation of how likely ...
What is an Odd Even Bet? Odd Even Bet Explained
What is an Odd Even Bet? An odd even bet refers to ...
What is Balloted Out? Balloted Out Explained for New Horse Racing Bettors
What is Balloted Out? Balloted Out is a term used on sports ...
Sportsbook of the month
SI Sportsbook - Get your Free Bet now! Get your Free Bet now!
Top Betting Sites
Top Betting Bonuses
SI Sportsbook
SI Sportsbook
SI Sportsbook Review
97/100
DraftKings
DraftKings
DraftKings Review
96/100
FanDuel
FanDuel
FanDuel Review
94/100
PointsBet
PointsBet
PointsBet Review
94/100
BetMGM
BetMGM
BetMGM Review
93/100
SI Sportsbook
SI Sportsbook Bonus
BET $20 GET $200 IN FREE BETS
T&Cs apply
9.7/10
First deposit only | 21+ & located in VA | Promo code as seen| A qualifying bet is $20 or more | Min odds of +120 or more | Free Bet Tokens credited after bet is settled and expire after 7 days | Free Bet stakes not included in winnings | Please Gamble Responsibly - Gambling Problem? VA: CALL 1-888-532-3500 | Full T&C apply
DraftKings
DraftKings Bonus
20% up to $1000
T&Cs apply
9.6/10
FanDuel
FanDuel Bonus
Bet $5, Get $150 in Bonus Bets
T&Cs apply
9.4/10
BetMGM
BetMGM Bonus
100% up to $1000
T&Cs apply
9.3/10
BetRivers.com
BetRivers.com Bonus
100% up to $500
T&Cs apply
9.2/10
All Odds Categories
Show More
Latest News
Texas woman pleads guilty to stealing $1m lottery jackpot
A Texas woman has admitted to stealing her ...
Aruze Gaming signs new gaming content deal with BetMGM
Aruze Gaming recently agreed to supply gaming content ...
The Best Sweepstakes Slots Games – As Rated By Us
Go to pretty much any sweepstakes casino and ...
Rise in scoring forces sports betting markets to readjust
A significant increase in NBA scores in 2023 ...
Fanduel Sportsbook goes online, provides legal sports betting in Ohio
On January 1, Fanduel Sportsbook officially went online ...
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.

ccwww
Move to Top
Close
Our Sports Pros recommend these awesome Social Casino sites this week:
×
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