What are Betting Odds That Use Decimals?
Decimal odds are more common in European betting markets and are a little more confusing than American or Fractional odds. Once you get the hang of it though, they are actually quite simple. Let’s look at an example:
Odds To Win the Superbowl:
- Giants: 1.50
- Patriots: 2.45
When looking at decimal odds, the same principal applies as in other forms of odds when trying to figure out who is favored. The lowest number tells you which team is favored. In our example, the Giants at 1.50 are favored over the Patriots, priced at 2.45.
Here’s how to figure out the payouts using decimal odds:
If the Giants win, they would pay an additional $.50 for every $1 bet, so you would win $1.50. The math equates to:
So for a $20 bet, you would win $20 * 1.50 = $30. A $100 bet would get you $100 * 1.50 = $150.
If the Patriots come out on top, you would win an additional $1.45 for every $1 bet. So if you bet $20 on New England, you would win $20 * 2.45 = $49.
Once again, the team with the lower decimal odds are the favorite to win!