Betting odds are a numerical expression of the likelihood of an event occurring and determine the potential payout. They are crucial in gambling and sports betting.
- Decimal Odds: These are popular in Europe and Canada. For example, if the odds are 2.00, a $10 bet would return $20 ($10×2.00).
- Fractional Odds: Common in the UK and Ireland. If the odds are 5/1, a $10 bet yields $50 profit plus the original stake.
- Moneyline Odds: Predominant in the United States. Negative values indicate favorites (e.g., -150) and positive values represent underdogs (e.g., +250).
Understanding these formats helps bettors make informed decisions and increase their chances of winning.
