by Alex Thomas | The Gamble Times, updated 16th of May, 2025
TL;DR:
Not sure what 2.50 odds mean? Or why someone’s talking about 5/2 like it’s normal? You’re not alone. Betting odds come in three main formats: Decimal, Fractional, and American. They all do the same thing — show how much you can win — just in different ways. This guide breaks it down in simple terms, so you’ll never be confused again. Let’s make odds easy.
Let’s be honest — odds can be confusing at first. You log onto a sportsbook, excited to place your bet, and then… boom. Numbers everywhere. 2.00, 5/1, +300. What does it all mean?
If you’ve ever asked yourself “how do I read betting odds?” — this post is for you. I’ll walk you through the three major types of betting odds, how to read them, and which one makes the most sense (spoiler: I have a favorite).
Let’s crack it open.
Why Odds Matter
Odds tell you two things:
- How much you can win
- How likely something is to happen (according to the bookmaker)
Understanding odds means better bets and fewer rookie mistakes. So let’s break down the formats.
1. Decimal Odds (a.k.a. The International Favorite)
Example: 2.50
This is the easiest format in my book — and most of Europe agrees. Here’s how it works:
- Decimal odds = total payout per €1 wagered (includes your stake)
- So, a 2.50 odds bet means:
€1 x 2.50 = €2.50 return (that’s €1 profit + €1.50 winnings)
Why it’s good:
- Super simple math
- Great for quick comparisons
- Used at most online sportsbooks and casinos (check out my Wildsino review — they use decimal)
Who uses it?
Europe, Australia, Canada — and pretty much every online betting site worth its salt.
Alex’s take:
If you’re just starting out, stick with decimal odds. They’re clean, quick, and require zero mental gymnastics.
2. Fractional Odds (a.k.a. The UK Classic)
Example: 5/2
If you’ve watched horse racing in the UK, you’ve seen this. It looks like math homework — but it’s not so bad:
- Fractional odds = profit / stake
- So, 5/2 means:
For every €2 you bet, you get €5 profit
Total return = €7 (€5 winnings + €2 stake)
Quick cheat sheet:
- 1/1 = Even money (you double your money)
- 2/1 = You win €2 for every €1 bet
- 10/1 = You win €10 per €1 (long shot)
Who uses it?
UK and Irish sportsbooks, especially for racing and traditional sports.
Alex’s take:
I grew up on decimal odds, so these feel clunky. But if you’re betting on the Grand National, you’ll want to get comfy with these.
3. American Odds (Moneyline Odds)
Examples: +200 or -150
This format is common in the U.S. and takes a bit of mental switching — but it’s powerful once you get it.
If the odds have a plus (+):
- +200 = You win €200 on a €100 bet
If the odds have a minus (–):
- –150 = You need to bet €150 to win €100
Think of it like this:
- Plus odds = Underdog = bigger payouts
- Minus odds = Favorite = more risk for less reward
Who uses it?
U.S. sportsbooks, especially for NFL, NBA, MLB, and all the rest of the alphabet soup.
Alex’s take:
This format is tricky at first, but I’ve come to respect it. It really shines for parlays and underdog bets, where you can see the value spike.
Converting Odds Formats
Most good betting sites let you switch formats in your settings — a lifesaver. But here’s a quick feel:
| Decimal | Fractional | American |
|---|---|---|
| 2.00 | 1/1 | +100 |
| 1.50 | 1/2 | –200 |
| 3.00 | 2/1 | +200 |
| 1.91 | 10/11 | –110 |
(Pro tip: bookmark this chart)
Which Odds Format Should You Use?
Here’s my rule of thumb:
- New to betting? Go decimal
- UK sports fan? Learn fractional
- In the U.S. or betting on U.S. sports? You’ll need American
At the end of the day, they all show the same truth — just styled differently. So pick the one that works for your brain.
Final Thoughts
Understanding how odds work is step one to being a smarter bettor. It’s not just about winning — it’s about knowing what you’re risking and what you stand to gain.
And hey — once you’ve got this down, you’re halfway to being the sharpest bettor in your group chat.
FAQ: Betting Odds Explained
What’s the easiest odds format for beginners?
Decimal. It’s straight math and easy to read.
Why do odds change before a game?
Bookmakers adjust odds based on bets coming in, injuries, weather, and more. It’s how they stay balanced.
Can I switch odds format on my sportsbook account?
Yes — most sites let you toggle between decimal, fractional, and American in your settings.
Are higher odds always better?
Higher odds mean bigger potential payout, but also lower chance of winning. It’s a trade-off.
Is there a best format for live betting?
Decimal is usually fastest to interpret when things move quickly.
Got more questions about betting odds or just want to talk shop? Drop me a comment below or hit me up in the next post. I’ll be around — odds are, you’ll see me again soon.
