The decimal format is the most common format offered by most betting houses. It’s also the easiest format to read and understand just how much you could win.
Basically the way it works is:
– A lower Decimal number means higher probability that the team will win.
– A higher Decimal number means a lower probability of the team winning.
So let’s say Evil Geniuses had odds of 1.600, and Team Secret had odds for 2.500. This means the bookmaker thinks Evil Geniuses is more likely to win.
The nice thing about Decimal odds is that they are easy to calculate. To figure out how much you’ll win, you simply multiply the Decimal odds by the amount you want to bet.
Let’s take a look at an example of how Decimal Odds works. For the example we’ll use a “match win” type of bet, since it’s the most common.
Here we have a hypothetical match between Evil Geniuses and Team Secret:
If you were to bet $100 on Evil Geniuses, the potential return would be $160.00. This is calculated as:
This includes your original $100 bet known as a “stake”, so the real profit is $60
If you placed a bet of $100 on Team Secret, the potential return would be $250.
When you are using Decimal Odds for match win bets, the amount you deposit (in this example the $100) is also known as the “Risk”. When you’re placing a bet, the ticket will show the potential win amount. (This would be the $250 shown in the example)
With the Decimal information, you can also work out the probability of a certain outcome. This is done by dividing 1 by the decimal odds. Example:
One thing you may notice is that the two probabilities, 62.5% and 40%, add up to 102.5%. This is to compensate for what is called the “bookmaker’s margin”. It’s basically the amount of money the bookmaker is aiming to earn from taking bets. In this case, 2.5%
The lower the margin a bookmaker offers, the better value the consumer is getting.
Interested in betting? Check out the odds tables to get started.