What are Decimal, Fractional and American Betting Odds?
If you've ever placed a bet here at JILIBEE Sportsbook, you may have noticed there are multiple ways to view your odds. But do you fully understand what they mean and how they differ from each other? In this guide, we'll explain the distinctions between the three main types of betting odds: decimal, fractional, and American.
What are Sports Betting Odds?Let's start with the basics: what are sports betting odds? If you've never placed a bet on live sports, you might not be familiar with the terminology or how to interpret the numbers. Essentially, odds show the likelihood of various outcomes in a game or event and help you calculate the potential payout you could receive if your bet is successful, once you understand how to read them.
What are Decimal, Fractional and American Odds & Examples?At JILIBEE, there are three primary formats for displaying odds. The most common type can vary depending on your location. For instance, American odds are typically favored in the United States for sports like American football; decimal odds are widely used in Europe, Canada, and Australia for games like basketball and ice hockey; and fractional odds are the standard in the UK, especially for soccer. But what do each of these odds look like, and how do they work?
How Do Decimal Odds Work?Decimal odds are likely the most universally recognized and widely used format, owing much of their popularity to their simplicity compared to other formats. To calculate your total return, including your original JILIBEE, when betting with decimal odds, you simply multiply your JILIBEE by the decimal figure.
It's also straightforward to identify the favorite outcome – the lower the number, the more likely it is to happen! Here's an example of how decimal odds look in a moneyline bet:
| Selection | Bet Amount | Return |
|---|---|---|
| Liverpool - 1.80 | $10 | $18.00 |
| Draw - 3.50 | $10 | $35.00 |
| Manchester City - 5.00 | $10 | $50.00 |
Fractional odds are the preferred format in the UK and can be a bit more mathematically involved than decimal odds. While they aren't as immediately intuitive, understanding them isn't overly difficult.
For fractional odds, the numerator (the first number) represents the profit you'd make if the denominator (the second number) were your JILIBEE. For instance, 10/1 means you'd earn a $10 profit from a $1 wager, with a total return of $11. Here's how the same bet example would look in fractional odds:
| Selection | Bet Amount | Return |
|---|---|---|
| Liverpool - 4/5 | $10 | $18.00 |
| Draw - 5/2 | $10 | $35.00 |
| Manchester City - 4/1 | $10 | $50.00 |
In the United States, American odds are the standard format, which is quite different from the decimal and fractional systems. These odds are represented with a (+) or (-) symbol followed by a number.
When the odds are marked with a (+), they indicate the amount you would win from a $100 bet. A (-) symbol, on the other hand, tells you how much you need to JILIBEE to win $100 in profit.
For example, a $100 bet at +150 odds would yield a $150 profit, making the total return $250. On the flip side, a -150 bet would require a $150 wager to win $100 in profit, resulting in a total return of $250. Below is the same betting example formatted with American odds:
| Selection | Bet Amount | Return |
|---|---|---|
| Liverpool -125 | $10 | $18.00 |
| Draw +250 | $10 | $35.00 |
| Manchester City +400 | $10 | $50.00 |
As demonstrated by the examples above, although the major formats appear quite distinct, they all share a common connection. Converting between American, decimal, and fractional odds can seem challenging, but even if you're not a math expert, there are betting calculators available to help with the conversion.
The primary difference between these formats lies in their presentation, and which format is used depends on the preferences of the bettor. Regardless of the format, all odds can be included in different betting strategies and markets, such as parlays, handicaps, prop betting, spread betting, and same-game multi-bet builders.
Benefits of Each Type of Odds FormatAs mentioned earlier, the differences between these formats are minor when it comes to the outcome or payout. At JILIBEE, we offer all three formats for every sports betting market, so the odds format you choose will not affect the results. However, there are distinct advantages to each format.
-
Decimal:
The biggest benefit of decimal odds is the simplicity with which you can calculate your return. This is why decimal odds are the most popular worldwide. You simply multiply your JILIBEE by the odds, and you'll have your total return. -
Fractional:
Though fractional odds have lost some of their popularity, they still offer a significant benefit. The value of the odds is easy to assess. If the numerator (the first number) is smaller than the denominator (the second number), the return is modest. However, when the first number is larger, you're looking at potentially more valuable odds. -
American:
For American odds, the main advantage is the ease with which you can identify the favorite in a matchup. The minus symbol (-) at the start of the odds always indicates the favorite, making it simple to spot which team or player is expected to win.
At JILIBEE Sportsbook and online casino, we strive to offer unique benefits to our users. Regular promotions are available across various betting markets, including weekly rakebacks, reload bonuses, giveaways, and special offers for major events like the NFL, English Premier League, NBA, and more.
For those who enjoy online casino games such as roulette and blackjack, we offer a wide range of bonuses applicable to new releases and popular slot and table games. There's also a VIP club for both casino and sportsbook players, where rewards are based on your betting and playing history. VIP members enjoy exclusive benefits, including a dedicated VIP host to assist with any inquiries.
Moreover, we support withdrawals and deposits with several major cryptocurrencies, as well as local currencies from around the world. With our secure JILIBEE Vault and helpful guides on crypto gambling, you can rest assured that your funds and gaming sessions are safe.
While offering an exceptional gaming experience with a variety of markets, games, and promotions, we also prioritize responsible gambling. Through our JILIBEE Smart program, we provide resources and guides to help you recognize and manage any gambling-related issues. We aim to help users enjoy their gaming responsibly and safely.