Odds are the prices offered by the bookmakers that tell you how much you can win on a bet with a given bet. In general, the higher the odds, the lower the chance of winning and the team is not expected to play as well.
Different bookmakers in different countries offer their odds in different ways depending on local custom. You can view the odds presented in UK (Fractional), European (Decimal), US (Money Line) and the formats most used in Asian betting markets, including Indonesian, Malaysian style odds formats and Hong Kong.
In live betting (also known as bet in play, in game, running bets), the odds tell a story. The ability to decode the odds to identify betting opportunities is the secret to making money, and understanding the various odds formats to allow you to place decisive bets in a timely manner is crucial.
Below is a short conversion table for the different probability formats. Since it is very difficult to present the graph in the form of a table with ordered tabs, follow the sequence of the probabilities according to the probability formats:
UK => European => US => Indonesian => Malay => Hong Kong
5/1 => 6.00 => +500 => +5.00 => -0.20 => 5.00
3/2 => 2.50 => +150 => +1.50 => -0.67 => 1.50
1/1 => 2.00 ==> 100 ==> 1.00 ==> 1.00 => 1.00
11/8 => 1.73 => -137 => -1.37 => +0.73 => 0.73
1/2 => 1.50 => -200 => -2.00 => +0.50 => 0.50
Consider the following points:
1) For UK and European odds, any payout above 1/1 and 2.00, respectively, are negative odds in the Malaysian format.
2) Indonesia’s odds are like the US’s, only divided by 100.
3) Note that for the US and Indonesian odds versus the Malaysian odds, the interpretation of the positive (+) and negative (-) figures is the opposite of each other. For example, US + 500 / Indonesia +5.00 is Malaysian -0.20; US -200 / Indonesia -2.00 is Malaysia +0.50, etc.
Understanding the different formats of probabilities
Let’s take an example of a match between Sydney vs Adelaide on level handicap and the odds offered are as follows:
Match: Sydney vs Adelaide (level handicap) and odds in the following formats:
UK => European => US => Indonesian => Malay => Hong Kong
Sydney Winner => 3/2 ==> 2.50 => +150 => +1.50 => -0.67 => 1.50
Adelaide will win => 11/8 => 1.73 => -137 => -1.37 => +0.73 => 0.73
It is important to take into account the difference between your payout after a win and your profit, which is the payout minus the bet amount.
UK odds (fractional)
UK Odds X Your stake = your profit.
Sydney 3/2 (level handicap) Adelaide 8/11
If the bet is $ 100, the scenarios will be as follows:
* If you take Sydney and win, your win will be $ 150
* If you take Sydney and lose, you will lose $ 100
* If you take Adelaide and win, your profit will be $ 73
* If you take Adelaide and lose, you will lose $ 100
European odds (decimal)
European odds x your bet = your payout.
Sydney 2.50 (level handicap) Adelaide 1.73
If the bet is $ 100, the scenarios will be as follows:
* If you take Sydney and win, your payout will be $ 250 (win will be $ 150)
* If you take Sydney and lose, you will lose $ 100
* If you take Adelaide and win, your payout will be $ 173 (win will be $ 73)
* If you take Adelaide and lose, you will lose $ 100
US odds (money line)
US probabilities are expressed in positive (+) and negative (-) figures. Positive numbers show how much you would win on a $ 100 bet. Negative numbers show how much you need to bet to win $ 100.
Sydney +150 (level handicap) Adelaide -137
If the bet is $ 100, the scenarios will be as follows:
* If you take Sydney and win, your win will be $ 150
* If you take Sydney and lose, you will lose $ 100
* If you take Adelaide and win, your profit will be $ 100
* If you take Adelaide and lose, you will lose $ 137
Malaysia Odds
Malaysia’s odds are also in positive and negative numbers. Positive numbers show how much you would win on a $ 100 bet. Negative numbers show how much you would lose to win $ 100.
Sydney -0.67 (level handicap) Adelaide +0.73
If the bet is $ 100, the scenarios will be as follows:
* If you take Sydney and win, your win will be $ 100
* If you take Sydney and lose, you will lose $ 67
* If you take Adelaide and win, your profit will be $ 73
* If you take Adelaide and lose, you will lose $ 100
Indonesia Odds
Indonesia’s odds are like the US’s, only divided by 100.
Sydney +1.50 (level handicap) Adelaide -1.37
If the bet is $ 100, the scenarios will be as follows:
* If you take Sydney and win, your win will be $ 150
* If you take Sydney and lose, you will lose $ 100
* If you take Adelaide and win, your profit will be $ 100
* If you take Adelaide and lose, you will lose $ 137
Hong Kong odds
HK odds x Your bet = your profit.
Sydney 1.50 (level handicap) Adelaide 0.73
If the bet is $ 100, the scenarios will be as follows:
* If you take Sydney and win, your win will be $ 150
* If you take Sydney and lose, you will lose $ 100
* If you take Adelaide and win, your profit will be $ 73
* If you take Adelaide and lose, you will lose $ 100
Conclution
The various types of probability formats seem confusing at first. It is just a matter of getting used to one that you are most comfortable with so that you can earn money on time by making decisive bets in your live betting business.