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Decimal or “European” odds are a popular and intuitive format for expressing the potential winnings of an a bet. The format is used across Europe, and is the default format on sports betting exchanges.
Unlike other odds formats such as Fractional or American odds, decimal odds represent the total amount that will be paid out to the bettor if their bet is successful, including the original stake.
Decimal odds are presented as a number with two decimal places, such as 2.50 or 1.75. Calculating potential winnings with decimal odds is simple: you multiply the amount of the bet by the decimal odds. For the profit, you then subtract the stake as follows:
Profit = (stake x decimal odds) – stake
For example, if you bet €50 at odds of 2.00, your potential payout would be €100 (€50 x 2.00 = €100). The potential profit would be €50 (€100 return – €50 stake).
As decimal odds represent the total payout, it’s easy to compare odds across different bookmakers. Essentially the higher the decimal odds are, the higher the potential payout is.
Decimal odds can be converted into percentages (known as the implied probability) using the following formula:
Manchester City to win against Chelsea at odds of 1.85 with a stake of €100:
Rafael Nadal to win the French Open at odds of 3.50 with a stake of €50:
Lewis Hamilton to win the Monaco Grand Prix at odds of 2.25 with a stake of €200:
Here are of the main pros and cons of using decimal odds in sports betting:
Decimal odds are very straightforward to understand and calculate. The number represents the total payout including the original stake, making it easy to determine potential winnings and compare odds across different bookmakers.
Decimal odds are transparent, and it is easy to see how much the bookmaker is charging for their services. This makes it easier for bettors to make informed decisions.
Decimal odds are used by many bookmakers and betting sites around the world, making them a common and familiar format for sports bettors.
Decimal odds can be easily converted into probabilities by dividing 1 by the decimal odds and multiplying by 100.
Some bettors may be unfamiliar with decimal odds, particularly if they are used to other formats such as fractional or American odds. This could lead to confusion and mistakes when placing bets.
Decimal odds do not provide any indication of which team or player is considered the underdog. Bettors need to look at all outcomes to determine which is most likely to win.
