No matter where you play, the decimal odds value represents the amount of money you can expect in return for every $1 (or corresponding currency) you bet. It enables you to clearly spot the favorite and the underdog and assess their balance just by looking at their respective decimal numbers. This is primarily because this betting odds format is also the simplest of the three. With that in mind, let’s go over each of the three types of betting odds formats: Decimal Oddsĭecimal odds, also known as European or continental odds, are the most popular format globally. Still, if you’d like to use any of them, you need to understand how they work. They all work the same and refer to the same thing, just in a different format and visual presentation. To answer this, we need to look at the three main types of betting odds featured in the best sports to bet on. Understanding what betting odds mean, we can move on to another key question, how do odds work in betting? How Do Bets Work: Three Main Types of Odds Thus, you can know what kind of return to expect, depending on how much money you bet. Not only this, but betting odds can help you calculate your particular winning amount. This is crucial to know if you want to avoid making bad sports bets. Odds matter in betting because they help you understand the potential likelihood of the outcome you want to bet on. They are based on many possible events and aspects that influence the potential outcome of a sports game, match, or event. In simple terms, odds provide a measure of the likelihood of a betting outcome. What Do Betting Odds Mean?īefore we can dive deeper into the three main examples of betting odds, we first need to understand the meaning of odds in betting. In this detailed guide, we will explain each of the three types, go over useful examples, and help you understand how they really work. These are fractional or UK odds, decimal or European odds, and moneyline or American odds.

There are three main types of sports betting odds.

Without solid comprehension of how betting odds work, you can’t expect consistent and profitable results when betting on sports.

If you’re a beginner bettor, one of the first and most important things you need to understand is how different types of betting odds formats work.

What do the odds mean in gambling