Understanding Fractional, Decimal and Moneyline Odds
Fractional Odds
Fractional odds are also known as British Odds, UK Odds, and Traditional Odds. They are expressed as a fraction, and typically look like this: 5/1. This means that for every $1 you bet, you will win $5 plus your original bet back ($1 + $4).
The beauty of fractional odds is that they offer a very simple way to calculate your potential profits or losses. To figure out how much you would win on a bet with fractional odds of 5/1, for example, just multiply your stake (the amount you bet) by the fraction on the left-hand side of the odds (5), then divide it by the fraction on the right-hand side (1).
Conversely, fractional odds of 1/5 would mean for every $5 you bet, you would only win $1 plus your original stake back.
Decimal odds
Decimal odds are expressed as a number followed by a decimal point and then a number. For example, 2.5 would be expressed as 2.50 in decimal odds.
The number after the decimal point is how much you will win if you bet $100 on that outcome. So, in the example above, if you bet $100 on the outcome and it wins, you would receive $250 (your original $100 plus $150 in winnings).
Conversely, if you bet $100 on an outcome with decimal odds of 2.00 and it loses, you would lose your entire $100 stake.
Moneyline (and point spread)
Moneyline odds are the most popular form of betting odds in the United States. In a moneyline bet, the gambler is simply betting on who will win the game.
For example, let's say that you want to place a moneyline bet on the New England Patriots to beat the Miami Dolphins. The Patriots are listed as -280 favorites, while the Dolphins are +240 underdogs. This means that a $100 bet on New England would net you a total of $28 if they win, while a $100 bet on Miami would net you $240 if they pull off the upset.
Point spread odds are used in sports betting to predict who will win a game and by how much. Bettors use point spread odds to calculate their potential payouts. The favorite team is typically given a handicap, or point spread, of a certain number of points. The underdog is given a head start of the same number of points. So, if the favorite is favored by 6 points, then they must win by 7 or more points for bettors who bet on them to collect; otherwise, those who bet on the underdog will win their bets. In most cases, the point spread odds will be listed alongside the moneyline odds.