Decimal Odds Review

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z OTHER

Betting odds are a numerical expression of an event happening, typically in a sporting event or horse race. The 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
  • Fractional
  • American
  • Hong Kong
  • Indonesian
  • Malay

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 1 2.15 100 divided by 2.15 = 45.51
Outcome 2 3.40 100 divided by 3.40 = 29.41
Outcome 3 3.75 100 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.

Decimal 1.5 2.00 3.0
Fractional 1/2 Evens 2/1
American -200 -100 +200
Hong Kong 0.5000 1.0000 2.0000
Indonesian -2.0000 1.0000 2.0000
Malay 0.5000 1.0000 -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 Win 2.80 100 divided by 2.80 = 35.71
Draw 2.40 100 divided by 2.40 = 41.67
Away Win 3.20 100 divided by 3.20 = 31.25

TOTAL: 108.63.

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

Tennis

Player 1 2.00 100 divided by 2.00 = 50.00
Player 2 1.80 100 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 1 3.00 100 divided by 3.00 = 33.33
Horse 2 5.00 100 divided by 5.00 = 20.00
Horse 3 4.33 100 divided by 4.33 = 23.09
Horse 4 9.00 100 divided by 9.00 = 11.11
Horse 5 8.50 100 divided by 8.50 = 11.76
Horse 6 10.00 100 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.


MOST POPULAR ONLINE CASINO & SPORTSBOOK WIKI TERMS

Agent

What is Agent ? In the casino, there are terms for beginners to understand. One of those is…

Chance Interactive

Online game development produced many games from slot games to poker games. If you like to experience fun,…

Asian Handicap

What Is Asian Handicap ? One of the peculiar methods of betting particularly in football is Asian Handicap.…

GTECH G2

Online casino is one of the most favourite pastimes of people from all over the world. However, with…

Ganapati

Ganapati is a gaming development company branching out into various sections of the online casino industry. The company…

BetConstruct

As an award-winning software provider, BetConstruct has over 16 years of experience in the global market. During which…

Felt Gaming

There are many casino table games nowadays. Some are extraordinary while others are below-par. Felt Gaming ensures that…

Abaqoos

Fast Funding of Betting Accounts with High Security and Protection When funding a betting account, you probably think…