Fractional odds of 4/5 are therefore equivalent to American odds of -125 and decimal odds of 1.80. If the fraction is smaller than 1, it is known as odds-on. Calculator users will notice that. 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).
Decimal odds are predominantly used in continental Europe, Australia and Canada. The format is a simple numerical representation of the potential return of a bet, which includes the stake amount.
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:
Nadal – 1.66
Djokovic – 2.20
Decimal Odds To American
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!
Decimal Odds Chart
To convert any odds formats check out Pinnacle’s odds converter.