How to read betting odds like a pro

You’ve come to the right place.

Getting to grips with betting odds is very much like learning a new, complex language. But, once you’ve got a solid grasp, you’ll soon find that you’re making sharper decisions, avoiding overpriced punts and even spotting value that others miss. Whether you’re sizing up Saturday’s match card or building an acca for a busy midweek market, odds are your key to staying one step ahead. 

In the UK, fractional odds still run the show. But with online sportsbooks operating globally, you’re going to run into decimals and American lines eventually. Knowing how to navigate between them is a necessity, especially if you’re swapping betting odds formats across a platform to chase the best price. 
Let’s break them down. 

Fractional Odds - The Nation’s Favourite 

You’ll find fractional odds almost everywhere in the UK (especially in horse racing). If you’ve seen prices like 5/1,10/3 or 11/8, you’ve already met them. But how often do you stop to unpack what they’re really telling you? 

Here’s how they work:

The first number shows how much you’ll win.

The second number shows how much you need to stake to win that amount.

That’s easy enough, right? When you drift into odds-on territory, though, things get muddy. Let’s use 4/7 as an example - you’re now being told that for every 7 units staked, you’re earning just 4 in profit. There’s an implication of a strong favourite here, but that short price doesn’t always translate into value. 

Decimal Odds - Slicker, Sharper and on the Rise

Decimal odds are clean, straightforward, and increasingly more commonplace, especially in online and mobile sportsbooks. What you see is what you get: the number represents your total return, stake included.

Odds of 3.00? Stake a tenner, get £30 back (£20 profit, £10 stake). Decimal odds slice through the confusion - there's no need to mentally convert 13/8 into something usable - and they’re especially handy when stacking legs in a multiple.

Another useful thing about opting for decimal odds is that they make it easier to calculate implied probability. If a team is priced at 2.50, divide 1 by 2.50 to get it (in this instance, that’s 40%). If you rate their win potential as greater than that, chances are you’ve found an edge. 

American Odds – Niche but Useful, Especially in Fight Sports

If decimals are radical enough, take a few deep breaths because we’re moving onto US odds. As tempting as it might be to throw in the towel, stick with it. They’re really not as baffling as they seem. 

American odds are split into two camps: positive and negative. They work differently depending on whether they show a  plus (+) or minus (-) sign:

+200 means you win £200 for every £100 staked (equivalent to 2/1 or 3.00 in decimal).

-150 means you need to stake £150 to win £100 (equivalent to 2/3 or 1.67 in decimal).

See? We told you they weren’t as bad as all that. 

So, where might you run into them? Crazy for combat sports or enjoy betting on international events? You might well come across US odds backing Julianna Peña at UFC 316. Sometimes, you’ll even find them in-play for eSports markets. 

Switching Between Formats? What You Should Know 

We mentioned this earlier, but most online sportsbooks will let you toggle between odds formats. At first glance, some odds will look more generous depending on the format, but don’t get tripped up by this. If you’re serious about your edge, you can use this feature as a tool - it’s especially useful when reading odds from global tipsters, or comparing early prices to closing lines.