When it comes to sports betting, many people believe that the key to winning lies in the ability to pick out the right winners. However, the biggest myth in sports betting is that there’s some magical way to predict which team or player will win. In reality, even top experts, bookmakers, and tipsters don’t know the outcome of games with absolute certainty.
What you can control, however, is understanding the odds. Betting odds are the foundation of every successful betting strategy, and without mastering them, you’re essentially playing blind. In this guide, we’ll break down the different types of odds — American, decimal, and fractional — and show you how to use this knowledge to increase your chances of winning. So, whether you’re just starting or looking to fine-tune your betting skills, you’re in the right place. Let’s dive into the world of odds and learn how they can work in your favor.
What Are Betting Odds?
In the simplest terms, betting odds represent the probability of an event happening. They help you calculate how much profit you could make based on the amount you wager. Different regions and platforms (like 1xBet, 1Win, and BC.Game) may use different formats of odds, but they all convey the same fundamental information.
Betting odds are a reflection of how likely an outcome is — and how much money you stand to make based on that likelihood. This article will teach you everything you need to know about these three main formats: American odds, decimal odds, and fractional odds.
The Three Main Types of Betting Odds Explained
1. American Odds: A Homegrown System for U.S. Bettors
American odds, sometimes referred to as moneyline odds, are commonly used in the United States. They’re either a positive or negative number, and they make it simple to see how much you’ll win or how much you need to bet to earn a certain amount of profit.
- Positive American Odds: These show you how much you would win if you bet $100. For example, if the odds are +150, a $100 bet would return a $150 profit (plus your initial stake).
- Negative American Odds: These indicate how much you need to bet to win $100. For instance, if the odds are -200, you’d need to bet $200 to win $100.
Example: Let’s say you’re betting on a soccer match between Bayern Munich and PSG. The American odds for Bayern Munich might be -125. This means you’d have to risk $125 to win $100 if Bayern Munich wins.
2. Decimal Odds: The Global Standard
Decimal odds are widely used in Europe, Canada, Australia, and are a favorite of online platforms like 1xBet and 1Win. They’re easy to understand, and the number you see is the total payout (including your stake) for every dollar you bet.
Formula: The total payout = Bet amount x Decimal odds
For example, if the odds are 1.8 and you place a $100 bet, you’d receive $180 in total ($100 stake + $80 profit).
Decimal odds are often considered the most straightforward because they combine both your profit and your original wager into one number.
3. Fractional Odds: A Traditional British Favorite
Fractional odds are commonly used in the UK and Ireland. They show the profit relative to your stake, making them a favorite among traditional bettors.
Example: If the fractional odds are 4/5, this means for every $5 you bet, you’ll make $4 in profit. So, a $100 bet would return $180 (your $100 stake plus $80 in profit).
Many sportsbooks, including BC.Game, offer fractional odds, especially if they cater to a UK audience.
How Betting Odds Reflect Probability
All betting odds — regardless of format — are essentially a reflection of probability. The higher the odds, the less likely an event is to occur, and vice versa.
To calculate the implied probability of an event, you can use the following formulas for each type of odds:
- American Odds (positive): Implied probability = 100 / (positive odds + 100)
- American Odds (negative): Implied probability = negative odds / (negative odds + 100)
- Decimal Odds: Implied probability = 1 / decimal odds
- Fractional Odds: Implied probability = denominator / (denominator + numerator)
For instance, if Bayern Munich’s odds to win are 1.8 (decimal), the implied probability of them winning is about 55.6% (1 divided by 1.8). This is key to understanding whether a bet offers value.
Why Understanding Odds Is Crucial for Profitable Betting
Now that you understand how odds work, the next step is learning how to spot profitable bets. Bookmakers, like those at 1xBet, 1Win, and BC.Game, set odds with a margin in their favor. This is how they ensure profitability over the long term.
For example, in a match between Bayern Munich and PSG, the bookmaker might offer odds of 1.8 for Bayern to win. Based on our earlier calculation, that implies a 55.6% chance of winning. However, by looking at a betting exchange or market data, you might find that Bayern Munich’s fair odds are actually closer to 1.895, or a 52.8% chance of winning.
This difference — between the bookmaker’s offered odds and the fair odds — represents their margin. In this case, the bookmaker is offering you a “price” that’s higher than the actual value, ensuring they make a profit regardless of the outcome.
To win consistently in sports betting, you need to look for opportunities where the bookmaker’s margin is low or when they’ve mispriced an event — giving you odds that are better than the true probability.
Finding Value in Special Promotions and Bonuses
One of the best ways to swing the odds in your favor is by taking advantage of special promotions and bonuses offered by bookmakers. Sportsbooks like 1xBet, 1Win, and BC.Game often run promotions such as boosted odds, risk-free bets, or deposit bonuses that can provide extra value.
- Boosted Odds: These promotions increase the odds for specific outcomes, giving you a better potential return without increasing your risk.
- Risk-Free Bets: These allow you to place a bet without worrying about losing your money. If your bet loses, you’ll be refunded in the form of a free bet.
- Deposit Bonuses: Many sportsbooks offer deposit bonuses, where they match a percentage of your initial deposit, giving you extra funds to bet with. This can significantly increase your bankroll, giving you more opportunities to place smart bets.
Conclusion: Mastering Betting Odds to Win Long-Term
Understanding types of odds — whether they’re American, decimal, or fractional — is essential to becoming a successful sports bettor. By knowing how to interpret odds and spot value, you can gain a critical edge over the bookmaker. While luck will always play a role in the outcome of individual bets, a strong understanding of odds and how they reflect probability can help you make more informed decisions and increase your chances of winning in the long run.
If you’re ready to start putting your newfound knowledge into practice, platforms like 1xBet, 1Win, and BC.Game offer competitive odds and a wide variety of promotions to give you an edge. Whether you’re betting on soccer, basketball, or esports, understanding the key to profitable betting starts with understanding odds.
Remember to always gamble responsibly, and if you enjoyed this article, feel free to explore our other guides on profitable betting strategies.