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Decimal Odds Review

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Betting odds are a numerical expression of an event happening, typically in a sporting event or horse race. The Decimal odds represent the likelihood of something happening and something not happening. The most basic betting market is for the toss of a coin in which both outcomes have an even chance of happening and not happening.

There are six different odds formats, which are mainly used in countries of their origin. The methods by which odds are expressed are as follows:

Decimal Odds include the stake with the winnings and they are most often used to express probabilities in a betting market in mainland Europe. The calculation is just the stake by the odds, which makes decimal format the simplest.

Profit Margin

The art of bookmaking is to create a market that attracts business while having a built-in profit margin for the bookmaker. A market is said to be over round when the odds represent a book of over 100%. Here is the calculation for the Decimal Odds profit margin in a three-way market:

Outcome 12.15100 divided by 2.15 = 45.51
Outcome 23.40100 divided by 3.40 = 29.41
Outcome 33.75100 divided by 3.75 = 26.67

TOTAL: 102.59

This book has an over round or theoretical profit margin of 2.59%.

Odds Conversion

Here is an odds conversion table for odds-on, Evens and odds-against.

Decimal1.52.003.0
Fractional1/2Evens2/1
American-200-100+200
Hong Kong0.50001.00002.0000
Indonesian-2.00001.00002.0000
Malay0.50001.0000-0.5000

Examples

Here are examples of Decimal Odds for three of the most popular betting sports and the most basic betting market, which is the win single:

Football

Home Win2.80100 divided by 2.80 = 35.71
Draw2.40100 divided by 2.40 = 41.67
Away Win3.20100 divided by 3.20 = 31.25

TOTAL: 108.63.

This book is over round or has a profit margin of 8.63%.

Tennis

Player 12.00100 divided by 2.00 = 50.00
Player 21.80100 divided by 1.80 = 55.56

TOTAL: 105.56.
This book is over round or has a profit margin of 5.56

Horse Racing

Horse 13.00100 divided by 3.00 = 33.33
Horse 25.00100 divided by 5.00 = 20.00
Horse 34.33100 divided by 4.33 = 23.09
Horse 49.00100 divided by 9.00 = 11.11
Horse 58.50100 divided by 8.50 = 11.76
Horse 610.00100 divided by 10.00 = 10.00

TOTAL: 109.30

This book is over round or has a profit margin of 9.30%.

The same calculation applies regardless of the total number of potential outcomes. As a rough guide, a typical betting market will be compiled with a profit margin of about 1.5% to 2% per runner or possible outcome.


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