Understanding Odds
When you first enter the world of sports betting, understanding how odds work can feel confusing — especially when you see terms like decimal or fractional. Odds show how likely an outcome is and how much you could win if your bet is successful.
This guide explains what odds mean, with a particular focus on decimal odds, how they work, and how to calculate your returns.
What are odds?
Odds represent the likelihood of a specific outcome happening and determine how much you’ll be paid if your bet wins.
In simple terms:
- Lower odds = more likely to happen, smaller returns
- Higher odds = less likely to happen, bigger returns
What are decimal odds?
Decimal odds are shown as a single number, such as 1.75, 2.50 or 5.00.
They represent the total return you’ll receive for every £1 staked — including your original stake.
How returns are calculated:
Stake × Decimal Odds = Total Return
Examples:
- £10 at 2.00 odds = £20 total return
- £5 at 4.50 odds = £22.50 total return
How do I calculate the probability of my bet winning from decimal odds?
You can work out the implied probability of a bet winning using decimal odds with the following formula:
100 ÷ Decimal Odds
Examples:
- 5.00 decimal odds → 100 ÷ 5.00 = 20% chance of winning
- 2.50 decimal odds → 100 ÷ 2.50 = 40% chance of winning
This percentage shows the bookmaker’s estimated chance of that outcome happening.
What are the different types of odds?
- Fractional Odds – shown as a fraction, such as 6/4 or 2/1.
- Example: £10 at 6/5 = £22 total return (£12 profit + £10 stake)
- Decimal Odds – shown as a decimal number, such as 1.83 or 3.00.
- Example: £20 at 3.00 = £60 total return
- American Odds – mainly used in the US and show how much you need to stake (or could win) to return £100.
Can I change the odds format I use?
Yes — you can choose the odds format that works best for you.
Go to the My Bets section, select Settings at the bottom of the page, and choose between Decimal, Fractional, or American odds.