Sportsbooks widely use decimal odds in New Zealand, Canada, Australia, continental Europe, and Africa. This odd format is easier to understand and calculate compared to the previous one.
Another benefit of this format is that it tells you your exact payout (winning + initial bet) when you stake on it. You can also calculate the percentage easily by dividing 100 by the decimal listing. For instance, the percentage of 2.5 odds will give us 40% (100/2.5).
How to Calculate Decimal Odds
Calculating the returns on your esports bets with decimal odds is simple. Just use the following formula.
Total Payout= [Stake x Odds]
For instance, here are the betting odds offered by a bookmaker for two teams in La Liga; Barcelona 1.19 vs Grenada 16.00.
From the listings, Barcelona is the favourite to win with just 1.19 odds, while Grenada is the underdog with a massive 16.00. It's quite easy to grasp the basic understanding; the higher the odds and payout, the less probable it is for the listed team to win.
If one bets £10 on Barcelona to win, he/she can get a total profit of £11.9 (£10 x 1.19). This amount also includes your initial bet of £10. However, place the same £10 on Grenada to win, and you could get a total payout of £160 (£10 x 16.00).
To decide your net profit from the total amount earned, deduct your bet from the total payout. In this case, calculate £160 - £10 and your net profit is £150.
American odds are also known as money line odds. This odd format is prevalent in the USA and used by some sportsbooks in Canada as well.
Although it may look uniquely challenging, it's actually easy to calculate when you get the hang of it. Money line odds usually come with a plus (+) and minus (-) sign.
The minus sign (-) accompanies odds for favourites. It indicates the amount you must stake to land a win of £100. A team with a -150 odds means you need to bet £150 to win £100.
The odds for underdogs are followed by a positive sign (+). It shows the amount you will win for every £100 you wager. For instance, odds of +300 means you might win £300 if you bet £100.
How to Calculate American Odds
Formula to calculate - Odds (100/odds x your bet)
Total Return = Profit + Initial bet
Use this for + Odds (Odds/100 x your wager)
Total Return= Profit + Initial Bet
Here is an example to get a better understanding of American odds.
Most bookmakers have a similar listing of NBA odds, with The Nets as the favourite to emerge the 20221-22 NBA season winner with +260 odds. The Magic is the least underdog to win the title with a whopping +100,000 odds.
Bet £50 on the Nets to win the title and you will get £130 in net profit.
(260/100 x 50)
Profit = £130
Total Return = £130 + £50
Here is a look at another money line eSports bet;
The bookmaker sees the Celtics as the favourite in this game with -165 odds. A £30 bet credits stake on the Celtics at -165 odds would give you £18.18 in net profit.
(100/165 x 30)
Profit = £18.18
Total Return = £18.18 + £30