Different Types Of Betting Odds

• October 11,2022
• -
• Bruce Williams

Different Types Of Betting Odds

Punters can access different betting odds depending on the type of wager and the betting service. A punter needs to understand how other odds are listed and calculated. They also need to know the comparison and conversion of odds and the probability and profitability of any betting event. Odds are listed in different formats depending on the type of numbering system used by a country or region. For example, most countries such as the UK use the metric system while the USA uses the imperial system. With such differences in measurements in time, distance, and space, punters across different regions also utilize other betting odds listed in decimals, fractions, whole numbers, mixed odds, handicap odds, and more. Punters need to understand the importance and variations in different measurement systems to become efficient and profitable punters.

Types Of Betting Odds

Some types of betting odds punters utilize across different betting markets, and wagers include the decimal system, fraction-based numbers, whole-numerals, mixed-odds, and handicap-odds.  

1. Decimals Odds

Decimals are the most commonly used system to list betting odds for different sports and outcomes. In math and statistics, decimals are the most popular format for listing odds, percentages, and fractions. Odds listed in decimal format are easy to calculate and understand by just looking at the number. Decimals are fractions after actually dividing the numerator by the denominator. For example, the odds for a 1x2 wager between Everton and Tottenham are as follows:

• A bet on Everton pays 3.5.
• A chance on a draw pays 2.5.
• A gamble on Tottenham pays 1.4.

Each of the odds is listed in decimal format with a point and numbers following the end.  

2. Fractions Odds

Fractions are the most commonly used betting system bookies in the USA for sporting events such as American football, college football, rugby, baseball, tennis, and other sporting events. Fractions are easy to understand and convert to decimals by dividing the actual numbers by the fraction. For example, in a game between Everton and Sunderland, the odds for a 1x2 wager are listed as follows:

• A bet on Everton pays 6/7.
• A chance on a draw pays 7/2.
• An event on Sunderland pays 9/2.

Each of the odds is in a fraction format with a numerator and a denominator.

3. Whole Numbers

Whole numbers are numbers that are neither listed in fractions nor decimals. Total numbers include numerals such as 1, 5, 7, 22, 49, 150, and so on. While most odds are rarely in whole numbers, bookies and betting providers use real numbers from time to time. For example, punters may utilize whole numbers to tip the RTP for casino and slot games. However, most RTPs are in percentage format, which gives a punter an indication of how much they could win based on their wagers.

4. Mixed Odds

Mixed odds utilize features of fractions, whole numbers, and or decimals. For example, platforms soccer tipsters list odds in varied formats to make the platform more accessible to punters from different regions across the globe. A punter can utilize a slider to change the listed odds on the platform from one format to another so that a punter can easily understand the wager and odds. For example, variable odds change based on how different teams perform after a game has begun.

5. Handicap Odds

Handicap odds apply to the handicap betting market, including the mixed handicap betting market, the Asian handicap betting market, and the European handicap betting market. For handicap wagers, the weaker opponent is at an advantage, while the stronger opponent is given a handicap before the start of a game. A punter needs to understand how to handicap goals and odds are listed and calculated to win consistently in the handicap betting market. Another critical distinction with how odds are listed is the elimination of draw results in Asian handicap odds and the inclusion of draw results in European handicap odds.