BTA University • Betting Basics
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.
4 Min Read
Beginner Level
American Odds
Decimal Odds
Fractional Odds
Quick Comparison
Key Takeaways
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American Odds
Most Common in the USA 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
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Decimal Odds
Common in Europe, Canada, Latin AmericaDecimal odds show the total return, including your original stake.
Stake × Decimal Odds = Total Return
$100 at 1.67 → $167 total
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Fractional Odds
Most Common in the UK and IrelandThe 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
- ✓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
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