Types of Odds
One needs to be well versed with betting odds in order to bet on a player. Oddsandstats.com provides advice on betting odds for its readers. Following paragraphs explain betting odds types in a simple and concise manner.
The betting odds set for a particular bet determine the potential profit of a player. The more probable the outcome the lower the return provided. It is widely known that various betting companies (especially the on line and internet based ones) do not offer – provide the same odds on each bet.
Odds are highly correlated with your long term profit margins. The punter who searches for the company which provides the highest odds, will maintain the highest profit all else equal. The goal of the team of Oddsandstats.com is to maximize your profits by providing reliable, accurate and up-to date information and advice.
Oddsandstats does extensive research of the odds offered through the various bookmakers and presents them in a concise way. We are the aggregators of the bets and the odds offered from the largest and best known betting companies in the world. Oddsandstats will be your partner in studying and analyzing thoroughly the odds, the teams, the statistics in an effort to make the right choices in terms of picking the bet and consequently picking the bookmakers.
We believe that it is important to present the different ways in which odds are stated for bets in various sites globally.
Odds Types
There are three fundamental types of odds. These are the European, the English-UK and the North American odds.
The European odds (decimal one) are widely used in the European countries. Because betting and especially the on-line betting is widely popular in
Example of Types of Odds
Assume that we bet a Capital of 100 Euros to the game Liverpool – Man City, at the point 1 (Victory of Liverpool).
| Odds Types | 1 | X | 2 |
| European | 1,40 | 3,75 | 5,00 |
| English – | 2/5 | 11/4 | 4/1 |
| American - US | -250 | +275 | +400 |
European Odds
With the European odds, the following formulas apply
Income=Capital * European Odds
Profit = Capital * (European Odds-1)
This means that on the game case mentioned above and based on the odds stated at the above table, we will receive 100 * 1,40=140 Euros as income, hence profit of 100 *(1,40-1)=40 Euros, betting an initial capital of 100 Euros.
English –
With the
Income = Capital * (
Profit = Capital * (
This means that on the game case mentioned above and based on the odds stated at the above table, we will receive 100*(2/5+1) =140 Euros as income, hence profit of 100*2/5=40 Euros, betting an initial capital of 100 Euros.
The
The difference between the European one of 1,40 compared to the UK one of 2/5 is that the European ones includes the initial capital in the calculation, while the UK ones refers exclusively to the profit generated as an outcome of a successful bet.
North American – US Odds
The North American odds can be positive as well as the negative. These odds lead to different types of calculations.
A. Positive Return
Income=Capital *(1+Odd – US/100)
Profit = Capital * Odds – US/100
B. Negative Return
Income =Capital *(1+100/Odds – US)
Profit = Capital * 100/Odds – US
This means that on the game case mentioned above and based on the odds stated at the above table, we will receive (we do have a negative return) 100 *(1+100/250) =140 Euros. Our profit is 100* 100/250=40 Euros, generated from an initial capital of 100 Euros.