Betting odds help you understand how likely an event is to happen and what your potential winnings could be. Here's a straightforward explanation of the different types of odds and how to use them.

Decimal Odds

• What They Look Like: Numbers with a decimal point, such as 1.50, 2.00, or 3.50.

• How to Understand Them: These odds show the total amount you get back per ₹1 bet if you win, including your original bet. For instance, a ₹1 bet at 3.00 odds will return ₹3 in total (₹2 profit plus the original ₹1 bet).

Fractional Odds

• What They Look Like: Numbers separated by a slash, like 5/1.

• How to Understand Them: The first number (5 in this example) is how much you win from a bet of the second number (1 in this example). So, for every ₹1 you bet at 5/1, you win ₹5 if your bet is successful.

American Odds

• What They Look Like: Numbers with a plus or minus sign, like +300 or -150.

• How to Understand Them: Plus (+): The profit you'd make on a ₹100 bet. +300 means you win ₹300 profit on a ₹100 bet. Minus (-): How much you need to bet to win ₹100. -150 means you must bet ₹150 to win ₹100 profit.

Probabilities with Odds

• Higher Odds Mean Lower Probability: If the odds are high (whether it's 10/1, 11.00, or +1000), it means the event is less likely to happen but you could win more.

• Lower Odds Mean Higher Probability: Lower odds (like 1/2, 1.50, or -200) indicate a higher chance of the event happening, but your potential winnings are smaller.

Calculating Winnings

Most online betting uses decimal odds, so it's useful to know how to calculate your potential winnings:

Formula: (Your Bet × Decimal Odds) - Your Bet = Your Profit

For example, if you bet ₹100 on odds of 3.00:

• ₹100×3.00 = ₹300 (Total Return)
• ₹300 (Total Return) - ₹100 (Your Bet) = ₹200 (Your Profit)

Using Odds Effectively

• Comparing Odds: Different bookmakers have different odds for the same events. Look around to find the best odds to maximize your potential winnings. Use sites like OddsChecker and OddsPortal to see at a glance where the best opportunity lies.

• Value Betting: Sometimes, if you believe the probability of an event is higher than what the odds suggest, it represents a "value" bet. This means there might be a good opportunity to make a profit over time. See our guide on spotting the wrong odds.

Conclusion

Odds are a fundamental part of betting, offering insights into the likelihood of outcomes and potential winnings. Understanding the differences between fractional, decimal, and American odds can help you make informed decisions, whether you're discussing bets in person or placing them online. Always use the odds to assess the risk versus the reward and to determine whether a bet is worth placing.

Learn how betting odds work in India - decimal, fractional, and American types explained to maximise your betting strategy and winnings.