Online sports betting is available at thousands of internet sportsbooks in 2018. You can gamble on thousands of markets, from NFL and AFL to the English Premier League, the NBA to the Olympics, and just about everything in between. If there’s a sport happening somewhere in the world, chances are good that you can bet on it! However, with many gamblers from different places all over the world online betting odds online, odds are displayed in a variety of ways that are usually specific to location.
As we’ll see below, those odds translate to the same thing and are almost always heavily influenced by Las Vegas betting odds. Let’s take a look at how to calculate each type of odds, how you can use a sports odds calculator to improve your gambling and where to find the best odds converter on the net. Before you start checking out Las Vegas sports odds or betting on sports on the web, the most important thing to know is how odds work and how to read sports lines. If you can’t understand odds, or don’t know how to convert between different types of odds, it’s highly unlikely that you’ll ever have any sports betting success because you’ll constantly be asking questions like «wait, what does 3 to 1 odds mean again? Luckily, as you’ll see below, getting to grips with odds isn’t all that difficult. Using an online sportsbook means that you can bet on sporting events taking place anywhere in the world, which is fantastic, but a big disadvantage is that odds on some sites may be presented in a format that you are not familiar with.
But, no matter what type of odds are shown, they all indicate the same thing: a bet’s chance of winning. You can use our betting odds calculator to see how the different types of odds represent this chance, but many seasoned gamblers end up being able to convert between various types of odds in their head! As the name suggests, American Odds are mostly popular with sportsbooks here in the United States. American sports betting odds work differently for favorites and underdogs, and are sometimes known as Moneyline Odds. You may notice that this is similar to ‘odds-on’ bets in UK markets. If you see the letters PK alongside the odds offered on a game, it means that there is no favorite and you should «pick» the winner of the game without the need to worry about any point spread. Understanding Fractional Odds Fractional Odds are popular in the United Kingdom but are also often used in horse racing.
Understanding Decimal Odds Decimal Odds are most popular in Europe, Australia and Canada, and many think that they’re the easiest format to understand. Almost all online sportsbooks will offer the option of displaying their odds in the decimal format, which is sometimes known as European Odds in the UK. With decimal odds, the figure quoted is the exact amount that will be paid out if the bet is a winner. Decimal odds are essentially equivalent to the decimal value of the fractional odds, plus one.
You bet on an Aussie Rules team with decimal odds of 2. Armed with the above knowledge, you should now have a pretty good idea of how to read sports lines. However, as we’ve mentioned elsewhere, sportsbook odds can appear in any of the above formats so it’s helpful to be able to be able to compare and convert between them. Comparing Odds It’s not uncommon for the same odds to appear over and over again in relation to different games or events. Most internet sportsbooks in 2018 will let you change between Fractional, American OR Decimal odds on their markets, but we’ve provided this easy chart to convert between some of the most common decimal and fractional odds you’ll see when betting on sports online.