How to Read Betting Odds: American, Decimal, and Fractional Formats
Sports betting odds come in different forms typically based on where you live you will see a different format. At a very basic level, you will see decimal odds if you live in Canada and Europe and also fractional odds more common in Europe than in North America while American odds are seen mostly in, well, America.
These three common formats of sports betting odds will look this for what would be considered a pick’em game: decimal format 1.91, fraction 10/11 and american -110. How are these odds calculated and how to understand them?
| American | Decimal | Fractional | Meaning |
|---|---|---|---|
| -110 | 1.91 | 10/11 | Pick'em (after vig) |
| -150 | 1.67 | 2/3 | Favorite |
| +100 | 2.00 | 1/1 | Even Odds |
| +125 | 2.25 | 5/4 | Underdog |
| +200 | 3.00 | 2/1 | Bigger Underdog |
How To Read American Odds
| Odds | Bet | Profit | Total Return |
|---|---|---|---|
| -150 | $150 | $100 | $250 |
| -180 | $180 | $100 | $280 |
| +125 | $100 | $125 | $225 |
| +200 | $100 | $200 | $300 |
To understand American odds, it’s best to look at them from a $100 perspective with favorite and underdog odds being treated slightly differently. Starting with the favorite, which would be indicated by negative (-) odds such as -150, tells you how much you would need to bet to make $100 in this case, $150 bet to profit $100. For an underdog, which would be indicated by positive (+) odds such as +125, tells you that if you were to bet $100 you could make an additional $125 in profit.
Once again for the favorite, anytime you see the negative sign in front of the number, that would be how much you would need to bet to profit $100. So, -180 you would have to bet $180, -200 wager $200 and so on. If you’re more conservative in your unit size perhaps want to profit $1 then the same principle applies: for a -180 favorite you would have to bet $1.80 to profit an extra $1.
For the underdog, anytime you see the positive sign in front of the number, that tells you how much money you could make with a $100 bet. So, +125 if you wagered $100 the payout could be $225, your initial $100 + $125 of profit. On a $1 bet size it would be the same, bet $1 and the payout would be $2.25, your $1 back + $1.25 of profit.
Quick cheat sheet to remember American Odds
✅ Negative (-)
- Favorite
- Risk more to win $100
✅ Positive (+)
- Underdog
- Risk $100 to win more
How To Read Decimal Odds
| Decimal Odds | $100 Bet | Profit | Total Return |
|---|---|---|---|
| 1.50 | $100 | $50 | $150 |
| 1.80 | $100 | $80 | $180 |
| 1.91 | $100 | $91 | $191 |
| 2.00 | $100 | $100 | $200 |
| 3.00 | $100 | $200 | $300 |
Unlike American odds where you’re basing wagers on $100 profit or how much profit I can make on a $100 wager, decimal odds tell you what your total return would be with your original bet. I’ll start with the most simple example 2.00 decimal odds and use a $100 wager, the total payout would be $200, your original $100 + $100 of profit. If you were to see 1.50 odds then with a $100 bet your payout would be $150, your initial wager + $50 of profit.
Once you surpass 2.00 decimal odds, you’re in underdog territory where as less than 2.00 (such as the 1.5 example above) you’re looking at a betting favorite. A true pick’em line in decimal odds would be represented at 1.91. A larger underdog let’s say 2:1 would be shown as 3.00, meaning your original $100 + $200 of profit for a total payout of $300.
The same calculations can be made at a lower unit size, for example $1. If you saw odds of 1.80 then your payout would be $1.80, your initial $1 bet + $0.80 of profit.
How To Read Fractional Odds
| Fraction | $100 Bet | Profit | Total Return |
|---|---|---|---|
| 1/2 | $100 | $50 | $150 |
| 10/11 | $110 | $100 | $210 |
| 1/1 | $100 | $100 | $200 |
| 2/1 | $100 | $200 | $300 |
Fractional odds are most common in the UK and bring you back to grade school math. Essentially these odds are showing you the profit based on your bet size. The easiest example to understand fractional odds is on the underdog side of things, seeing 2/1 would represent profiting $200 on your $100 original bet for a total payout of $300. A 1/1 fractional odds would be profiting the same as your original bet such as a $200 payout from your original $100 wager + $100 profit.
When you get into the favorites the fractional odds take a second to understand such as ½ meaning you earn $1 for every $2 wagered. That’s a generally easy favorite but it could be ⅓ which would be profit $1 for every $3 wagered or more complex like a true pick’em odds 10/11, profit $10 on $11 wagered. If you’re a craps player and play the insider you’ll understand these fractions very easily based on betting 4’s, 5’s, 6’s etc.
When in doubt, there are plenty of free online odds calculators that can help you convert to whichever odds you feel most comfortable with. Additionally, most sportsbooks have the option in the settings to let you switch the odds display on their app.
Which Odds Format Should I Use?
| Format | Best For |
|---|---|
| American | North American Bettors |
| Decimal | Quick payout calculations |
| Fractional | Traditional UK Sportsbooks |
While there are no real 100% answer for which odds format you should use because people look at numbers differently so whatever works for you is perfectly fine. That said, Decimal odds are a great way to see the final payout with little mental math required. Personally, I like American odds the best as I can understand the payout well enough in my head and being able to recognize larger favorites/underdogs and value comes easier to me in that format compared to the others.