Odds are the prices the bookmakers offer which tell you how much you can win in a bet at a given stake. In general,the higher the odds the lower the probability of winning and the team is not expected to play as well.
Different bookmakers in different countries offer their odds in different ways depending on local custom. You can see odds presented in UK (fractional), European (decimal), US (moneyline) and the formats popularly used in the Asian betting markets which include Indonesian, Malaysian and Hong Kong-style odds formats.
In live betting (also known as bet in play, in-game, in-running betting), the odds tell a story. The ability to decode the odds to identify the betting opportunities is the secret to make money, and it is crucial to understand the various odds formats to enable you to make timely decisive bets.
Below is a brief conversion chart of the different odds formats. As there is much difficulty to present the chart in a table form with neat tabulations, please do follow the sequence of the odds in accordance with the odds formats:
UK=>European=>US=>Indonesian=>Malaysian=>Hong Kong
5/1 => 6.00 => +500 => +5.00 => -0.20 => 5.00
3/2 => 2.50 => +150 => +1.50 => -0.67 => 1.50
1/1 => 2.00 ==> 100 ==> 1.00 ==> 1.00 => 1.00
8/11 => 1.73 => -137 => -1.37 => +0.73 => 0.73
1/2 => 1.50 => -200 => -2.00 => +0.50 => 0.50
Please take note of the following points:
1) For the UK and European odds, any payouts above 1/1 and 2.00 respectively are the negative odds in the Malaysian format.
2) The Indonesian odds are like US odds, just divided by 100.
3) Take note that for the US and Indonesian odds vs the Malaysian odds, the interpretation of positive (+) and negative (-) figures is the opposite of each other. For example, US +500/Indonesian +5.00 is Malaysian -0.20; US -200/Indonesia -2.00 is Malaysian +0.50, etc.
Understanding The Various Odds Format
Let’s take an example of a match between Sydney vs Adelaide at level handicap and the odds offered are as under:
Match: Sydney vs Adelaide (level handicap) and the odds in the following formats:
UK=>European=>US=>Indonesian=>Malaysian=>Hong Kong
Sydney To Win => 3/2 ==> 2.50 => +150 => +1.50 => -0.67 => 1.50
Adelaide To Win => 8/11 => 1.73 => -137 => -1.37 => +0.73 => 0.73
It is important to note the difference between your payout after a win, and your profit, which is the payout minus your staking amount.
UK Odds (Fractional)
UK odds X Your stake = your profit.
Sydney 3/2 (level handicap) Adelaide 8/11
If the stake is $100, the scenarios will be as under:
* If you take Sydney and win, your profit will be $150
* If you take Sydney and lose, you will lose $100
* If you take Adelaide and win, your profit will be $73
* If you take Adelaide and lose, you will lose $100
European Odds (Decimal)
European odds x Your stake = your payout.
Sydney 2.50 (level handicap) Adelaide 1.73
If the stake is $100, the scenarios will be as under:
* If you take Sydney and win, your payout will be $250 (profit will be $150)
* If you take Sydney and lose, you will lose $100
* If you take Adelaide and win, your payout will be $173 (profit will be $73)
* If you take Adelaide and lose, you will lose $100
US Odds (Moneyline)
US odds are expressed in positive (+) and negative (-) figures. Positive figures show the amount you would win for a $100 stake. Negative figures show how much you need to stake to win $100.
Sydney +150 (level handicap) Adelaide -137
If the stake is $100, the scenarios will be as under:
* If you take Sydney and win, your profit will be $150
* If you take Sydney and lose, you will lose $100
* If you take Adelaide and win, your profit will be $100
* If you take Adelaide and lose, you will lose $137
Malaysian Odds
The Malaysian odds are also in positive and negative figures. Positive figures show the amount you would win for a $100 stake. Negative figures show how much you would lose to win $100.
Sydney -0.67 (level handicap) Adelaide +0.73
If the stake is $100, the scenarios will be as under:
* If you take Sydney and win, your profit will be $100
* If you take Sydney and lose, you will lose $67
* If you take Adelaide and win, your profit will be $73
* If you take Adelaide and lose, you will lose $100
Indonesian Odds
Indonesian odds are like US odds, just divided by 100.
Sydney +1.50 (level handicap) Adelaide -1.37
If the stake is $100, the scenarios will be as under:
* If you take Sydney and win, your profit will be $150
* If you take Sydney and lose, you will lose $100
* If you take Adelaide and win, your profit will be $100
* If you take Adelaide and lose, you will lose $137
Hong Kong Odds
HK odds x Your stake = your profit.
Sydney 1.50 (level handicap) Adelaide 0.73
If the stake is $100, the scenarios will be as under:
* If you take Sydney and win, your profit will be $150
* If you take Sydney and lose, you will lose $100
* If you take Adelaide and win, your profit will be $73
* If you take Adelaide and lose, you will lose $100
Conclusion
The various types of odds formats do appear confusing at first. It is just a matter of getting used to one that you are most comfortable with to enable you to make timely money making decisive bets in your live betting business.
