What are Odds? Odds allow you to calculate the profit you make in relation to a bet. In technical terms, it represents the inverse of the result occurrence probability.
A simple explanation is the higher the odds, the higher your wins.
For example: if you win a £10 bet with odds of 3.5 you get: 10 x 3.5 = £35
There are several types of odds
- European odds: In decimal form. Odds are either in whole numbers or in decimals (2 or 3.3).
To calculate the win the formula is:
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For example: France winning at home against England, odds at 1.4 with a £100 bet
Win |
Bet x European odds |
= £160 |
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100 x 1.6 |
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Profit |
Bet x (European odds - 1) |
= £60 |
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100 x (1.6 - 1) |
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- English odds: A type of fraction. This is the most common form of odds on horse racing.
To calculate the win the formula is:
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For example: France win at home against England, odds at 1/4 with a £100 bet.
Win |
Bet x (English odds + 1) |
= £125 |
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100 x (1/4 + 1) |
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Profit |
Bet x English odds |
= £25 |
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100 x 1/4 |
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- American odds: Odds expressed as a positive or negative number (ex: -300 or 300). Negative odds indicate the Bet necessary for a profit of 100. Positive odds indicate the profit corresponding to a bet of 100.
To calculate the odds associated with American odds you need to use these formula:
Negative odds (Bet necessary for a profit of £100)
Example: France beat England at home, Odds of -200 (Bet of £100)
Win |
Bet x (1+ 100/American odds) |
= £150 |
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100 x (1+ 100/200) |
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Profit |
Bet x (100/American odds) |
= £50 |
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100 x 100/200 |
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The negative sign before the Odds is modified during the operation. So the result is positive.
Oddss positives (Profit for a £100 bet)
Example: France draw against England, Odds at +150 with a £100 bet.
Win |
Bet x (1+ 100/American odds) |
= £166 |
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100 x (100/150 + 1) |
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Profit |
Bet x (100/American odds) |
= £66 |
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100 x 100/150 |
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