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Hong Kong odds are a popular format for expressing the potential winnings of a bet. The format is widely used in Hong Kong and some other Asian countries.
Hong Kong odds are presented as a positive number with two decimal places, such as 0.50 or 1.75. Although very similar to the decimal odds format, Hong Kong odds represent the potential winnings (profit) per unit staked, not the return; this is the fundamental difference.
The formula for calculating profit from a bet using Hong Kong odds is as follows:
Profit = stake x odds
For example, if you bet HK$100 at odds of 0.50, your potential profit would be HK$50 (HK$100 x 0.50 = HK$50), with a return of HK$150 (HK$50 profit + HK$100 stake).
It’s important to note that the higher the Hong Kong odds, the lower the implied probability of the bet winning. To calculate the implied probability of Hong Kong odds, you can use the following formula:
Implied Probability = (1 / (odds + 1)) x 100
Let’s say you have Hong Kong odds of 0.50 for an event. The implied probability is calculated as: (1 / (0.50 + 1) x 100 = 0.666 x 100 = 66.67%
Manchester United to win against Chelsea at odds of 0.75 with a stake of HK$500:
Rafael Nadal to win the French Open at odds of 1.25 with a stake of HK$1,000:
Golden State Warriors to win the NBA Championship at odds of 0.5 with a stake of HK$2,000:
Here are the main pros and cons of using the Hong Kong odds format in betting:
Hong Kong odds are very easy to understand for beginners. The format is similar to decimal odds, except it represents the profit instead of total winnings.
Hong Kong odds are the standard odds format in many Asian countries, particularly in Hong Kong, where they are commonly used in horse racing and football betting.
Hong Kong odds are used at Asian sportsbooks which are known to offer better value than equivalent selections available in other regions. So it's beneficial for bettors to understand how to interpret them.
Hong Kong odds are not as widely available as other odds formats. Many betting sites do not have it as an option.
Hong Kong odds are often displayed in Chinese characters, which can make it difficult for non-Chinese speaking bettors to interpret them.
Hong Kong odds do not include negative odds, which makes it harder for US sports bettors to adapt to the format.
