There are three types of odds specifications, they are: Decimal Odds , also know as European Odds, Fractional odds, also known under the name UK odds, and American odds. Perhaps because of their correct depiction of the situation they are the Decimal types are considered to be the standard specification method. The goal of odds specifications, in whatever form they are given, is to relate the amount bets a gambler makes to the amount he/she wins. In order to do this, one has to be familiar with three terminologies: stakes, winnings, and pay-outs. Stakes are the amount wagered, winnings are the amount that is won from the bet, and payouts are the total amount paid when a bet is successful. Pay-outs represent the sum of winnings and stakes. Although these terms might seem insignificant, they are the heart and soul of odds calculations.
Additionally, it is essential to be aware of three additional terms about the strength of teams in a match; they are Evens, Odds-on, and Odds-against. Evens occur when two contestants are equally strong and thus there is no winner or loser; you bet $1 to win $1, if no commissions are involved. Odds-on refers to the odds of the favorite , and the winnings in this case are less than the stakes. Odds-against is that of the underdog, in which the winnings will usually be more than stakes. In the most common case of sports betting on the match between two rival players (evens odds) The odds that are assigned to both will be 1.90 in decimal odds 9/10 in fractions, and -111 in American odds, all of which translate to "bet one dollar to win 90 cents". The odds, even if there was no commission or bets made between friends would be 2.0, 1, and 100 for all three kinds. They are "bet one cent to win one dime".
Decimal Odds (European).
These are simply factors that indicate how-many-times-the-stake will the pay-out be. For instance odds of 2.50 means that the payout will be two and a half times the stake. For each dollar wagered, it will be $2.50.
Pay-out = stake * Decimal Odds
Win = stake * (Decimal Odds-1)
Fractional Odds (UK)
The fractions show that a stake that is equivalent to the denominator would yield a prize equal to the numerator. For instance, odds of 10/11 mean that 10 units will be taken home when you stake 11 units. That is, for each $111 wagered, the winnings will be $10.
Win = Stake * Fraction Odds
Pay-out = Stake (Fraction Odds + 1)
American Odds (US)
American odds are denoted by numbers that are always greater than 100 or equal to 100. They are preceded by the "+" or"-" sign. These symbols aren't mathematical signs, but are symbolic of your winnings in relation to stakes. The positive sign is used to signal an underdog where winnings are greater than stakes, or that it is an odds-against bet; while the negative sign is for favorites or odds-on betting. The two odds have totally different definitions, and therefore employ calculations that are not related.
Negative odds tell you how much you must wager to win $100. For example odds of -110 indicate that to win $100, the bet must be $110.
Winning = 100/negative American Odds
Pay-out = stake * (100/negative American Odds+ 1)
If $100 is bet, the odds of winning are positive. If player games is wagered and odds of +110 are present, this means that $110 is the prize.
Winning = Stake * positive American Odds/100
Pay-out = Stake * (positive American Odds/100 + 1)
They have unique features.
Decimal odds are always greater than 1.0 since '1' represents the stake.
American odds are always greater than or equal to 100 (remember that + and – are symbols, not mathematical numbers).
Fractional and American odds can be used to determine winnings, while decimal odds indicate the payouts.
Even visit our website , with regard to fair bets, are when you get the same amount of money as the stake. Thus, even odds are represented by 2.0 in decimal form, by 1/1 in fractional odds and 100 in US odds(-100 and +100 are the same).
The odds-on decimal odds are those where the winnings are greater than stakes. This is usually the case when a favorite team has many wins. In play free games , they can be defined by the fact that the numerator (winning) is lower than the denominator (the stake) In US odds, they are negative odds.
In the case of odds-against that is, when winnings exceed stakes, as is typically the case with an underdog team the decimal odds will be greater than 2.0 The numerator will be greater than the denominator of fraction odds, and they are positive odds in US odds.
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