Knowledge of how to interpret sports betting odds stands as an essential ability, for which a sports punter must develop. When bookmakers formulate odds. these numbers serve as statistical indicators about what will happen in sports events like the English Premier League. Multiple odds including their various purposes exist in betting scenarios.

Today, we will discuss the three main variations of sports gambling odds that are being used by sportsbooks across the world.

Different Types of Sports Betting Odds

Moneyline Odds (American)

Also known as American odds, Moneyline bets are the most popular form of betting odds but it is predominantly being used in the United States. Most online sports betting platform nowadays display their odds in Moneyline odds format.

Most beginners in sports betting may find the Moneyline odds confusing at first. However, once you fully understand the basics of this format, reading them will be just a breeze. There are two types of Moneyline odds: the one with the number next to a plus sign and the one with the number next to a negative sign. 

In a sporting game such as the English Premier League, the odds for the favorite team are shown based on the negative (-) sign beside it. That is to say, the amount that you have to bet in order to get a $100 return. On the other hand, the odds for the underdog team are indicated by a positive (+) sign, that is, the amount that you will receive for each $100 bet.

For example: 

• Liverpool (Favorite Team) -185 
• Fulham (Underdog Team) +500 

If you rooted for Liverpool FC in the English Premier League, the odds mean that you have to place a bet of $185 in order to win a payout of $100.

Decimal Odds (European)

Decimal odds are the type of betting odds that are represented in decimal numbers. This variant of sports betting odds is mostly being used in Europe (hence being called the European odds), as well as bookmakers in New Zealand, Australia, and Canada. 

Out of all the three sports betting odds variations, the Decimal odds is the easiest to grasp and the most straightforward because the number itself indicates the amount of total payout you will get once you win the wager. 

Simply put, the Decimal odds are the value that indicates the amount of the total payout including the returns or the amount that you wagered that will be paid back to you. 

For example:

• Arsenal 1.393 
• Newcastle United 7.250

If you place a wager for Newcastle United to win in the English Premier League, you will receive $7.250 for every $1 you stake. It’s as simple as that!

Fractional Odds (UK)

Also known as British odds or U.K. odds, Fractional odds are the variation of sports bets that are typically indicated with a slash (/) or hyphen (-). 

The Fractional or British odds are most predominantly being used by sportsbooks or bookies in the United Kingdom and Ireland. The Fractional odds are slowly becoming popular among international bookmakers, especially the most reputable ones. 

In this sports betting odds type, the value is represented by a fraction. In the functional odds, the number in the numerator represents the amount of your returns. Meanwhile, the denominator represents the amount of your stake. Combined, it means the ratio of the amount between the profit and stake. 

For example:

• Manchester United 9/20 
• Wolverhampton 5/1 

If you back Man United in this particular match in the English Premier League, the odds mean you will win $9 for every $20 stake you place.

Out of all the three sports betting odds types, the Fractional odds are the most difficult to understand. The main reason is that the amount of payout is not indicated right away just like the Decimal odds. Instead, you have to calculate both the numerator and the denominator to get the total payout. 

Final Words

If you are still a novice in sports betting, it is important to know how to read and understand all the types of betting odds. You need to be acquainted with the conversions between the variants of sports odds as well. Once you know how to read sports betting odds, you are now ready to place your wager on sporting events like the English Premier League. at 12BET!