Betting odds are quite complicated for most people to understand, so it is important for them to be understand where those odds come from. The purposes of these odds are to determine the probability of the betting outcomes, and how much money you can earn through wagers. American style, decimal style, and fractional style are the different formats of these odds.
American style as a way to set odds
This kind of style is most commonly used among betting sites. What you need to learn about this kind of format are the positive and negative signs used because these will serve as your clue if you can place bet on the betting outcome to earn more money.
A negative odd means that the betting outcome has a high probability of occurring while a positive odd has a lower probability to occur. The easiest technique to remember is that if you place bet on the negative odd means you will have less amount of money to earn, but if you place bet on the positive odd means you will have more amount of money to earn.
Decimal style as a way to set odds
The decimal style is easy to learn because in order for you to know your payout, just simply multiply the amount of money you have bet by the odds that are in decimal form.
However, if you are an American citizen, you cannot have this kind of odd style as you will not see this in online betting sites in America. This style is preferred in Europe, that is why it is also called as European odds. Even today, this kind of style is also popular among betting sites and thriving in different parts of the world because of its convenience and easy to use.
Fractional style as a way to set odds
Using this kind of odd stye helps you know the amount of profit you can make compared to other styles, but you just need to be careful as this can be tricky. With right knowledge, you will not get lost trying to understand how this style works.
The fractional style was established for a very long time in some countries that has horse racing, as seen with some of the newer UK betting companies. It is important to note that a simple math is the only solution to this; simply multiply your bet by the numerator. The result of this will be divided by the denominator. To easily understand, just think of the numerator as the amount you have won while the denominator as the amount you have placed your bet.