How To Use Decimal Odds, American Odds And How To Convert Them

Most UK bookmakers use fractional odds to price bets but betting exchanges such as Betfair use decimal odds.

Fractional odds such as 6/4 or 2/1 are what most people are used to but decimal odds are preferable to some because they are more accurate and offer greater transparency to punters.

Where fractional odds might take a bit of figuring out, decimal odds are straightforward - the bigger the number, the higher the possible return.

The first factor to bear in mind when working with decimal odds is that the backer’s stake is included - so 2.0 is evens (1/1) and 3.0 is 2/1.

Switching To Decimal Odds

Most major bookmakers allow users to switch to decimal odds. How to do this varies between bookmakers - some have it as an option on the front page, others require users to go into their account settings to toggle the preference.

Similarly, when using exchanges like Betfair, it is possible to switch to fractional odds. Betfair, for example, shows fractional odds when the mouse pointer is hovered over a price and offers an odds conversion tool with every market.

How To Use Decimal Odds And Matched Betting

We use decimal odds when matched betting because of the high level of accuracy offered and that the exchanges have decimal odds as their default setting.

This means that, whenever the Matched Betting Calculator is used, decimal odds for both the bookie and the exchange must be input.

Converting To Decimal Odds

To convert fractional odds to decimal, divide the first figure by the second figure and then add 1.00.

For example, 11/4 is 11 divided by four, which is 2.75, plus 1.00, equals 3.75.

To convert decimal odds to fractional, subtract 1.00 and convert to a fraction, reducing to the simplest form.

For example, 1.75-1 = 75/100 or 3/4.

How To Use American Odds

The other way of displaying bookmaker prices are American odds. Unsurprisingly, this is the presentation style in the US.

They state either a plus or a minus sign The negative number shows the amount one would have to wager to make £100 profit and a positive number shows how much you would win if you bet £100.

So, if an outcome is priced at -124, you need to bet £124 to make £100 profit (your stake would also be returned.

If a team is +112, then a winning £100 wager would return £112 profit (plus the £100 stake back).

Decimal To Fractional Odds Conversion Table