Betting Odds Explained: How to Read Odds and Calculate Payouts
Odds show the price of a bet — how likely a sportsbook thinks an outcome is, and how much a winning bet pays out.
American Odds
Most common in the US
A favorite shows a minus number, an underdog shows a plus number. Your stake is always returned on a win.
Favorite —
-150
Bet $150 to win $100 profit
Underdog —
+130
$100 bet wins $130 profit
Decimal Odds
Europe, Canada, Latin America
Decimal odds show the total return, including your original stake.
Stake × Decimal Odds = Total Return
$100 at 1.67 → $167 total
Fractional Odds
UK and Ireland
The right-hand number is the stake, the left-hand number is the profit.
4/6
A $6 bet wins $4 profit, $10 total return
Quick Comparison
| American | Decimal | Fractional | Meaning |
|---|---|---|---|
| -150 | 1.67 | 4/6 | Risk $150 to win $100 |
| +130 | 2.30 | 13/10 | Risk $100 to win $130 |
Key Takeaways
Remember these basics before moving on to implied probability and sportsbook pricing.
- Odds show price, probability, and potential payout
- American odds use plus and minus numbers
- Decimal odds show total return, fractional odds show profit vs stake
- Odds do not guarantee an outcome