Odds are the prices offered by bookmakers that tell you how much you can win on a given bet. In general, the higher the odds, the lower the chance of winning and the team is not expected to play as well.
Different bookmakers in different countries offer their odds in different ways depending on local customs. You can view odds presented in UK (fraction), Europe (decimal), US (moneyline) and formats that are popularly used in Asian betting markets, including Indonesia, Malaysia and Hong Kong style odds formats.
In live betting (also known as in-play betting, in-play, ongoing betting), the odds tell a story. The ability to decipher the odds to identify betting opportunities is the secret to making money, and understanding the different odds formats is essential to be able to place decisive bets at the right time.
Below is a brief conversion table of the different odds formats. Since it is very difficult to present the graph in tabular form with ordered tabulations, follow the sequence of probabilities according to the probabilities formats:
UK=>Europe=>USA=>Indonesia=>Malaysia=>Hong Kong
5/1 => 6.00 => +500 => +5.00 => -0.20 => 5.00
3/2 => 2.50 => +150 => +1.50 => -0.67 => 1.50
1/1 => 2.00 ==> 100 ==> 1.00 ==> 1.00 => 1.00
8/11 => 1.73 => -137 => -1.37 => +0.73 => 0.73
1/2 => 1.50 => -200 => -2.00 => +0.50 => 0.50
Please take note of the following points:
1) For UK and European odds, any payouts greater than 1/1 and 2.00 respectively are negative odds in the Malaysian format.
2) Indonesia’s odds are like the US odds, just divided by 100.
3) Note that for the US and Indonesian odds vs. the Malaysian odds, the interpretation of the positive (+) and negative (-) numbers are opposite to each other. For example, US +500/Indonesia +5.00 is Malaysia -0.20; US -200/Indonesia -2.00 is Malaysia +0.50 etc.
Understanding the format of various probabilities
Let’s take an example of a match between Sydney vs Adelaide with a level handicap and the odds offered are as follows:
Match: Sydney vs Adelaide (level handicap) and the odds in the following formats:
UK=>Europe=>USA=>Indonesia=>Malaysia=>Hong Kong
Sydney Win => 3/2 ==> 2.50 => +150 => +1.50 => -0.67 => 1.50
Adelaide winner => 8/11 => 1.73 => -137 => -1.37 => +0.73 => 0.73
It is important to note the difference between your payout after a win and your win, which is the payout minus your bet amount.
UK odds (fractional)
UK Odds X Your Bet = Your Profit.
Sydney 3/2 (level handicap) Adelaide 8/11
If the bet is $100, the scenarios will be the following:
* If you take Sydney and win, your win will be $150
* If you take Sydney and lose, you will lose $100
* If you take Adelaide and win, your profit will be $73
* If you take Adelaide and lose, you will lose $100
European Odds (Decimal)
European Odds x Your Bet = Your Payout.
Sydney 2.50 (level handicap) Adelaide 1.73
If the bet is $100, the scenarios will be the following:
* If you take Sydney and win, your payout will be $250 (win will be $150)
* If you take Sydney and lose, you will lose $100
* If you take Adelaide and win, your payout will be $173 (win will be $73)
* If you take Adelaide and lose, you will lose $100
US Installments (Moneyline)
US odds are expressed in positive (+) and negative (-) figures. The positive numbers show the amount you would win for a $100 bet. Negative figures show how much you need to bet to win $100.
Sydney +150 (level handicap) Adelaide -137
If the bet is $100, the scenarios will be the following:
* If you take Sydney and win, your win will be $150
* If you take Sydney and lose, you will lose $100
* If you take Adelaide and win, your win will be $100
* If you take Adelaide and lose, you will lose $137
Malaysia odds
Malaysia’s odds are also in plus and minus numbers. The positive numbers show the amount you would win for a $100 bet. The negative numbers show how much you would lose if you won $100.
Sydney -0.67 (level handicap) Adelaide +0.73
If the bet is $100, the scenarios will be the following:
* If you take Sydney and win, your win will be $100
* If you take Sydney and lose, you will lose $67
* If you take Adelaide and win, your profit will be $73
* If you take Adelaide and lose, you will lose $100
Indonesian odds
Indonesian odds are like US odds, just divided by 100.
Sydney +1.50 (level handicap) Adelaide -1.37
If the bet is $100, the scenarios will be the following:
* If you take Sydney and win, your win will be $150
* If you take Sydney and lose, you will lose $100
* If you take Adelaide and win, your win will be $100
* If you take Adelaide and lose, you will lose $137
Hong Kong odds
HK Odds x Your Bet = Your Win.
Sydney 1.50 (level handicap) Adelaide 0.73
If the bet is $100, the scenarios will be the following:
* If you take Sydney and win, your win will be $150
* If you take Sydney and lose, you will lose $100
* If you take Adelaide and win, your profit will be $73
* If you take Adelaide and lose, you will lose $100
Conclusion
The various types of odds formats seem confusing at first. It’s just a matter of getting used to one that you feel most comfortable with to allow you to earn money on time by making decisive bets in your live betting business.