There are various types of betting odds available for different sports and events. The most common forms of betting odds are fractional, decimal, and American formats. Each type has its own rules and regulations that must be followed in order to place a successful bet.
Fractional Odds: Also known as British Odds or Traditional Odds, this type of betting is the oldest form of gambling used by bookmakers in the UK. Fractional Odds represent a ratio between the amount you would win if your wager succeeds versus the amount you need to stake. For example, if a team has 2/1 (2-to-1) fractional odds then it means that for every £1 staked, a successful bet would return £2 in winnings plus the original stake (£1).
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Decimal Odds
Also known as European Odds, this type of betting is popular with many continental Europe countries. Decimal odds represent the ratio between your total winnings (including your original stake) and the amount that you need to wager. For example, if a team has 3.00 decimal odds then it means that for every £1 staked, a successful bet would return £3 in winnings including the original stake (£1).
To work out your potential winnings using decimal odds, simply multiply the amount you stake by the decimal indicated. For example, if you were to bet £20 on a team with 3.00 decimal odds then you would return £60 (£20 x 3).
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American Odds
Also known as Moneyline Odds or US Odds, this type of betting is most commonly used by sportsbooks in America and Canada. American odds are written in the form of a positive or negative number followed by a slash. A negative sign (-) indicates the amount you need to wager in order to win £100, whereas a positive sign (+) signifies the amount you will be paid out for every £100 staked should your bet succeed. For example, if a team has -120 American Odds then it means that for every £120 staked, you would return a total of £100 in winnings (including the original stake).
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British Odds
Fractional odds are the most common form of betting used in the UK. To work out your potential winnings, simply multiply the amount you stake by the fraction indicated. For example, if you were to bet £20 on a team with 2/1 (2-to-1) odds then you would return £40 (£20 x 2).
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What Are 7 to 2 Odds?
7 to 2 odds means that if you bet £2, you will receive a return of £14 (including the original stake of £2). To work out your potential winnings using 7/2 fractional odds, simply multiply the amount you stake by the fraction indicated. For example, if you were to bet £20 on a team with 7/2 odds then you would return £70 (£20 x 7).
Odds with a negative sign
Odds with a negative sign (-) indicate the amount you need to wager in order to win £100. For example, if a team has -120 American Odds then it means that for every £120 staked, you would return a total of £100 in winnings (including the original stake). To work out your potential winnings using negative odds, simply multiply the amount you stake by 100 and divide it by the negative number indicated. For example, if you were to bet £15 on a team with -120 American Odds then you would return £12.50 (£15 x 100 / – 120 = £12.50).
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Vegas odds
Vegas odds are the types of betting odds used by sportsbooks in Las Vegas. They are written in the form of a positive or negative number followed by a slash and then two numbers separated by a hyphen. A negative sign (-) indicates the amount you need to wager in order to win £100, whereas a positive sign (+) signifies the amount you will be paid out for every £100 staked should your bet succeed. For example, if a team has +150 Vegas Odds then it means that for every £100 staked, you would return £150 in winnings (including the original stake). To work out your potential winnings using Vegas odds, simply multiply the amount you stake by the decimal indicated. For example, if you were to bet £20 on a team with +150 Vegas Odds then you would return £30 (£20 x 1.50).
Conclusion
Betting odds identify the amount of money that you could win by placing a wager. Different types of betting odds are used in different countries and regions around the world, including Decimal Odds, American Odds, British Fractional Odds and Vegas Odds. To work out your potential winnings using different types of betting odds, simply multiply the amount you stake by the fraction or decimal indicated. It is important to note that odds with a negative sign (-) indicate the amount you need to wager in order to win £100, whereas odds with a positive sign (+) signify the amount you will be paid out for every £100 staked should your bet succeed.
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