How to Read Betting Odds (UK Guide): Fractional, Decimal & American

How to Read Betting Odds

In online sports betting, one of the critical points of interest is the usage of odds throughout different betting markets. These odds help prospective players decipher between a plethora of markets in order to find the best bets at the most valuable price, something we at Football Park aim to do with every one of our football betting predictions.

However, understanding betting odds can be an overwhelming task for new players in the industry. Prices are not laid out as simply as providing a return profit for a certain stake, but instead are laid out either fractionally or decimally - meaning that a lack of comprehension behind what odds mean could lead to losses by way of a misplaced stake.

To help you through, here is our comprehensive guide behind betting odds, how to read them and how to use them effectively throughout your betting journey.

What are Betting Odds?

Betting odds are prices, provided by bookmakers, regarding a certain outcome on a particular betting market. For example, Bournemouth have been priced at 7/1 odds to defeat Liverpool on the opening day of the 25/26 Premier League season. Essentially, betting odds are a ratio between the amount of money staked by the bookies on an outcome, and the amount staked by a player on the same outcome.

In our provided example, 7/1 odds means that the bookies will stake seven times the amount the player wagers on a bet. If the player wins this bet - the outcome they bet on materialises - they will take seven times the amount of their bet from the bookmaker (in this example, anyway). Specifically, if you were to stake £1 on a bet at this price, then you would receive £8 back from the bookmaker of choice - your bet multiplied by seven by the bookmaker (their wager) plus the £1 that was placed on the bet by yourself (your wager).

How to Read Betting Odds

There are two main formats of betting odds that you will likely find in the UK online betting industry, though a third format, American odds, is also useful to know. Fractional odds, which we used in the example given above, is the most common format of betting odds, as well as being the format in which most bookmakers will present their odds when you join them for the first time, or if they advertise any prices online.

Decimal odds are the next most common in the UK, and the format of betting odds that we utilise in all of our free football betting predictions.

Fractional Odds

Fractional Odds are the most common format of betting odds on the market. They are characterised by displaying the amount that you would stake on the right of the fraction (the denominator) and the amount this stake would return on the left of the fraction (the numerator).

Here are some examples of fractional odds:

• 7/1 = Bet £1, receive £7 in profit
• 13/2 = Bet £2, receive £13 in profit
• 5/3 = Bet £3, receive £5 in profit
• 1/1 = Bet £1, receive £1 in profit.
  

The first two bets would be known as “odds-against” bets. These are bets that the bookmakers believe are unlikely to happen, and thus offer a more rewarding price should the market return as a winner.

The third option is an “odds-on” bet. This is a market that the bookmakers believe is likely to return as a winner. As such, in contrast to “odds-against” bets, the odds for this are shorter, and will not return as much profit from a single £1.

The final option is an “evens” bet. This means that anything you stake on this bet will be doubled should the bet win. For example, if Mohamed Salah was priced at 1/1 to have a Shot on Target in his next match, and I staked £5 on this happening, I would receive £10 if the bet was to be a winner, which would be my £5 of profit and my £5 initial stake.

It is important to know that with this format of odds, the numerator in these fractions is showing your profit, and not the overall amount of money that will be given to you for a winning bet. All winning bets will return you the profits from the odds as well as your initial stake.

Decimal Odds

Decimal odds are our preferred way of presenting prices here at Football Park, as we believe they are the easiest to understand. With decimal betting, the odds provided are a multiplier for whatever your stake may be. A good rule of thumb to calculate your returns on decimal odds is to view everything with a £10 stake. As such, here are some examples of decimal odds:

• 3.25 = Bet £10, receive £32.50 in total
• 1.23 = Bet £10, receive £12.30 in total
• 12.00 = Bet £10, receive £120 in total
  A difference between decimal odds and fractional odds is that fractional odds tend to display your profit only, whereas decimal odds display your returns including your stake. In the second example, a £10 bet on 1.23 odds would return £12.30 to your account should the bet be a winner. However, only £2.30 of this is profit from the bookmakers.

Moneyline Odds (American)

While less common in the UK, you may encounter American odds, also known as moneyline odds, especially on international betting sites. They are based on a £100 stake and can be positive or negative.

• Positive Odds (+): The number shows how much profit you will win from a £100 bet. For example, odds of +150 mean you win £150 for every £100 you stake. This is used for outcomes considered less likely to happen (odds-against).
• Negative Odds (-): The number shows how much you must stake to win £100 in profit. For example, odds of -200 mean you must stake £200 to win £100. This is used for favourites that are considered likely to happen (odds-on).

From Odds to Probability

Beyond showing potential winnings, odds also represent the bookmaker's assessment of an outcome's probability. This is known as "implied probability". Understanding this helps you judge whether the odds offer good value. You can calculate it as follows:

• Fractional Odds: Denominator / (Denominator + Numerator) * 100. For odds of 7/1, the calculation is 1 / (1 + 7) * 100 = 12.5%.
• Decimal Odds: (1 / Decimal Odds) * 100. For odds of 3.25, the calculation is (1 / 3.25) * 100 = 30.8%.
  

If you believe the true probability of an event happening is higher than the implied probability shown in the odds, you may have found a "value bet". This is the key to using odds effectively in your betting journey.