Decimal odds or European Odds Like the name would indicate, these odds are expressed in the form of decimal numbers (1.50, 3.62). They are also known as European oddsand are used by most sports bookiesaround the world. Decimal odds are the most common way online bookmakers present their odds to customers. Decimal odds are often called European odds, as they are most commonly used by sports bettors in Europe, Australia, and Canada. They are simple to understand, making them a favorite across the world for bookmakers and sports bettors.
Read decimal odds by simply multiplying the odds by the stake.
Example:
Odds = 1.75
Stake = 50
Total Payout = Price x Stake = 1.75 x 50 = 87.50
Decimal odds are the simplest format of odds to read and usually the preferable odds format for educating new bettors on how to read sportsbook prices. Lets look at a tennis matchup between Novak Djokovic and Rafael Nadal: Football betting lines explained.
Nadal – 1.66
Djokovic – 2.20
Using Decimal odds, the underdog is the team with the higher of the numbers, making the favorite the team with the lower of the two numbers. Pretty straightforward!
If you were to risk 100 on Nadal at odds of 1.66, you simply multiply the amount you risked (100) by the odds (1.66). The result is 166, which includes the 100 you risked, leaving you 66 in profit.
With Djokovic, risking the same 100 as before at odds of 2.20 would return you 220 (100 * 2.20). This includes the 100 you risked, so that leaves you with 120 in profit.
Prices including and above 2.00 mean that the side is considered less likely to win than the other, referred to as the ‘underdog'. Prices below 2.00 are for sides which are considered more likely to win, called the ‘favourite'.
Decimal odds are called that because, well, they are provided as a number followed by 2 decimal places! The number will never be below 1.00. If the number was below 1.00 that would mean you wouldn't even get your original stake back in a win, and no one would bet on that!
To convert any odds formats check out Pinnacle's odds converter.
Decimal Odds Formula
By convention only a set of fractions are used in fractional odds betting markets. The set does not include exact mathematical equivalents to all possible decimal and American odds. We use the closet fraction that is used in betting markets.
For example, the exact mathematical equivalent of decimal odds 30 is fractional odds 29/1. Dubai thoroughbred horse racing. However 29/1 is not used in betting markets, instead 30/1 is used, so that is what appears in this converter.
Decimal Odds
For an explanation of the odds types on this table see decimal, fractional and American odds. To find out what the numbers really represent see understand odds as probability with overround.
Decimal Odds Table
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