Odds are the foundation of any sports betting, which means understanding odds is crucial for becoming an expert bettor.

Additionally, understanding how to handle odds, and how they work makes the entire process even more fun.

Betting Odds Explained

Even though they look complicated, calculating betting odds can be difficult, especially for beginners. The first problem that newbies come across is the different odds formats.

There are three ways that the odds are represented by the bookies.

• Moneyline – American
• Decimal
• Fractional

Each odd format is calculated differently, which is why you need to understand the process behind each odd type. Remember, the odds are only used to calculate your potential winnings. In most cases, they are not an accurate representation of the probability in a match.

Bookies have well-developed systems that allow them to predict the probability of certain things happening in a sporting event. However, if they reflect that probability in the odds, it would reflect negatively on their business, since people will avoid low probability sporting outcomes.

Once we got that out of the way and found out what odds are and what they represent, it is time to dig a bit deeper into fractional odds and try to understand how they work and how to calculate them. If you need help you can get the TwinSpires sports betting calculator to assist you.

How Fractional Odds Work?

Fractional odds are also known as traditional are popular with Irish and British bookies. They are typically displayed with a slash (/) or hyphen (-) and some of the world’s largest bookmakers use such odd calculation systems.

At first glance, it might look difficult to calculate your earnings, but don’t worry, the process is fairly simple once you get the hang of it.

To understand fractional odds better, here is a way to see them.

The first part of the fraction (the denominator), represents the profit you’ll earn if you bet the second part of the fraction (the nominator).

For example, if you see a 5/1 (five-to-one) odds, you should expect to get a $5 profit for every $1 you bet. Additionally, you’ll get your original stake back.

This sounds very simple, but most people don’t wager $1, and they don’t have a clear idea of how much money they will earn.

Fortunately, there is another way to calculate fractional odds.

To find out how much money you’ll earn, you should multiply your stake by the first number of the fraction, and divide it by the second number. This way of calculating fractional odds is very helpful, especially for complicated numbers like 9/4.

If you wager $100 on a 9/4 odds, the formula should look like this:

(100 x 9) / 4 = 225

In order to get a better idea about which team is favored to win through fractional odds, you should compare the first and second numbers. The lower the first number compared to the second number, means that the team or athlete is more favored to win.

Remember, the odds don’t reflect the true possibility of a certain thing happening or not happening, which is why you shouldn’t take them too much into consideration.

How to Convert Fractional Odds into Other Formats

If fractional odds are too complicated for you, or your favorite bookie uses them, you can convert them into other types of odds such as Decimal or Moneyline.

To convert fractional odds into Moneyline odds, the process is a bit difficult since Moneyline odds have can be positive or negative.

If the fractional odds are higher than evens, this means that the Moneyline odd will be positive.

Formula: (fractional odds) x 100 and since it is a positive Moneyline odd, add the + sign in front.

Fractional odds that are lower than evens are negative Moneyline odds.

Formula: 100 / (Fractional Odds) and all that is left is to add the – sign at the beginning.

The formula for converting fractional odds into decimal, all you need to do is divide the fractions and add one.

For example: 7/2 = 3.5 + 1= 4.5 decimal odd.

The process is quite straightforward and easy to understand. So, no matter how your odd are displayed you can easily convert them in the odds you understand the most.