The following page is dedicated to one of the most used formats of odds which sportsbooks name decimal. Stay tuned to get acquainted with this particular type of odds. However, for other betting slang terms, head to our comprehensive vocabulary text page and get to know the whole spectrum of terms related to betting.
What are Decimal Odds
The decimal type is very popular in European and African countries. Such a format is straightforward to learn as you only need to multiply your stake by the values displayed in the odds field. Let us explain how the calculations work: imagine that you bet on football with two completely opposite teams in terms of winning chances. Such a big difference also creates a big difference in winning ratios. So, you bet $10 on the underdog with odds 4.5. To calculate your potential earnings, you take odds of 4.5 and multiply it by $10, which will result in a $45 payout. To wrap up, your payouts will depend on your stake only. When choosing other outcomes, always remember to check the odds. Also, you can check your potential payouts in the bet slip window. The sportsbook will make the calculations automatically.
How to Display Decimal Odds in Your Sportsbook
Generally, all sportsbooks are designed to display ratios in different ways. So, almost all modern sportsbooks allow you to switch them for your convenience. To do this, you need to open your sportsbook and go to the settings (profile sections). Then, find the ” format” page and select decimal. After that, go back to the sports page and check if the format has changed.
Advantages of Decimal Odds
Unlike other formats, decimal odds have the biggest advantage in the convenience of quick math. All bettors will be able to evaluate the approximate payouts from winning on a certain betting market from a quick look at the ratios. The idea is to look through the betting options presented on the sportsbook page, quickly run your eyes over the displayed likelihoods, and calculate what you will be earning if you bet on this or that outcome.
Why Understanding the Odds is Essential
Generally, sportsbooks announce odds to determine the probabilities of each team winning or losing the game or other outcomes happening. Therefore, it’s important to learn how odds work, how they are calculated, and how to make predictions based on them.
- For instance, it shows you the likelihood of the event to occur. Sportsbooks evaluate the chances, inputting the values that refer to the probability of an event to happen. Bettors will have a visual representation of who is the favorite in the game and who is the underdog.
- Secondly, based on the ratio, you can calculate your potential payout. Taking into account each coefficient, you will be able to get how much money will be paid.
- Thirdly, there is usually a difference between the real chances of each team and the odds. Your expertise and in-depth analysis can help you determine which outcomes will likely have higher chances.
F.A.Q.
The decimal format makes it easy to calculate the odds and your potential payouts.
There is a quick formula: you need to divide the first figure by the second one and add 1.00 to the result. Here is an example: there are fractional values that equal 1/2. Divide 1 by 2 and add 1.00. Your decimal odds equal 1.50.
If the decimal format of formulas seems easy, then yes, you should switch.
