Being new to the system of betting on European Sports Betting Odds is quite more easier, but to understand how odds are working is difficult and it make your time on bet and experiences so frustrating.

With this article, whether you're betting in a casino, sports, or on any other event, knowing how to read and interpret different types of odds is key to place a smart bets.

If peradventure, a team has odds of -150, you'd need to bet $150 to win $100. If the odds are +200, a $100 bet would win you $200. In both cases, your original bet is returned along with your winnings. The larger the gap between the favorite and underdog odds, the higher the favorite's chances of winning.

Popular and type of betting odds

Decimal Odds (European)
Fractional Odds (British)
Moneyline Odds (American)

Key Takeaways

The three main types of betting odds are fractional (British) odds, decimal (European) odds, and moneyline (American) odds.

These formats are alternate ways of presenting the same thing and have no difference in terms of payouts.
British fractional odds are the ratio of the amount won (profit) to the bettor's stake.

Depending on the negative or positive sign, American moneyline odds either indicate the amount one needs to wager to win $100 or the amount one would win for every $100 staked.

Betting on the Moneyline

A betting website  also known as an online sportsbook, priced an NFL game between the Pittsburgh Steelers and the Kansas City Chiefs with the following moneyline odds.

The bookmaker has offered odds of +585 for the Steelers, which indicates that the bookmaker has placed a much lower probability (about 15%) that the Steelers will win the game. Therefore, if you risk $100 on the Steelers, you could win $585.

If the Steelers pull off the upset, you get back your initial stake of $100 in addition to the $585 you won, for a total payout of $685.

If you decide to bet on the Chiefs—the team that, according to the bookmaker, has a higher probability of winning the game—you would need to bet $760 to win $100. If the Chiefs are victorious, you will win $100, for a total payout of $860 (initial stake of $760 + profit of $100).

In this matchup, there is a big difference between the two odds, indicating a much higher probability of the Chiefs winning the game. Often the odds are much closer.

How Do Odds Impact Payout

Simply put, the greater the odds against a team, the larger the payout will be for anyone who bets on that team and wins. For example, 7 to 2 odds mean that for every $2 you wager, you could win $7 if your bet is successful, while 5 to 1 odds mean you could win $5 for every $1 you bet.

What Do the + and - Mean in Sports Betting?
In American sports betting, odds are typically expressed with a plus (+) or minus (–) symbol followed by a number. For example, +200 signifies the amount a bettor could win if wagering $100. If the bet works out, the player would receive a total payout of $300 ($200 profit + $100 initial stake).

What Does It Mean When Odds Are Negative?
Negative numbers (in American moneyline odds) are reserved for the favorite on the betting line and indicate how much you need to stake to win $100. Conversely, positive numbers are attached to the underdog and refer to the amount you could win if you bet $100. You stand to make more money on positive odds, but the chances of a win are lower.

What Are Vegas Odds?

Vegas odds (aka "Las Vegas odds") are a form of American moneyline odds used in sportsbooks. They can include a point spread representing the expected margin of victory. This allows bettors to wager not only on the winner but over or under the bookmaker's predicted point spread.

American, British, and European odds are three different ways of expressing the same thing and can be converted from one to another. By understanding all three and how they work, you'll increase your own odds of placing well-informed (if not always successful) bets.

If you or someone you know has a gambling disorder, please call the National Problem Gambling Helpline at 1-800-GAMBLER (1-800-426-2537) or visit ncpgambling.org/chat to chat with a helpline specialist.

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Insights

European sports betting odds refer to the probability of an event happening in a sports match, usually presented in decimal or fractional formats. These odds help bettors understand the likelihood of a particular outcome and calculate potential winnings.