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Are you a soccer fan? If yes, your next step is learning how to read soccer odds. The better you understand betting odds, the better your chances of winning money and placing less risky wagers. You might come across three types of soccer odds formats: British, American and European. British are called fractional, European — decimal, and American — moneyline. Whichever format you come across, no need to worry — there are many odds converters available online.
So you can pick whatever is more comfortable for you, and convert the odds in other formats to the one you like. We will explain American odds in detail further down. The fractional odds are one of the easiest betting odds to read. You will recognize them by a slash or a dash connecting the two numbers. The first number says how much you will win, the second number — the stake.
We will use the recent Premier League odds as an example. Bettors will find the Premier League odds for particular games in a table with three columns: home, draw, away. The columns are customarily labeled with a single letter: H, D, A. In the game Liverpool vs. Now, keep in mind, the odds will change before the game begins, so this is just an example.
And so on. The European format is also pretty easy to read. We will use the Premier League odds again as an example to show you how to read soccer odds in case one day you are betting in Europe. Other than betting on the results of a particular game, you can also make a wager on the outright winner of the entire Premier League. Again, we will rely on odds from one of the biggest sportsbooks. If you bet a hundred dollars on Liverpool and they take the championship, you will get dollars multiplied by the odds, in this case, 1.
It will be dollars, a hundred from your stake and 61 dollars of earnings. Now you can see that according to bookmakers, Tottenham is not very likely to win the Premier League, with odds at After warming you up with fractional and decimal odds, we arrive at the main course: figuring out how to read soccer odds in the US.
In this case, we will use the MLS odds as our example. A minus sign means that the team is expected to win. The higher the number following the minus, the bigger are the chances of that team winning. The bigger the number following the plus, the lower are the chances of that team winning. In this case, Seattle is expected to win and FC Dallas to lose. How does it translate to your wager? This knowledge will help you not only with soccer odds, but also all types of sports betting odds.
At this point, you know how to read soccer odds in terms of calculating what you can win if you make a correct prediction. We will look at how to make an accurate prediction based on betting odds. We can use the absolute numbers and ignore the minus sign before the negative odds. Just make sure you remember the difference between equations for underdogs and favorites.
You take and divide it by plus The mathematical equation will look like this:. The last thing to do is turning the result into a percentage. To do that, you multiply it by a hundred. Okay, a little bit more math and we are almost done. Calculating their implied probability of winning looks a bit different:. Again, we turn the result of the equation into a percentage by multiplying the result by a hundred:.
We hope this will help you understand how to read soccer odds on a whole new level. Mathematically, this is a Bernoulli trial , as it has exactly two outcomes. In case of a finite sample space of equally likely outcomes , this is the ratio of the number of outcomes where the event occurs to the number of outcomes where the event does not occur; these can be represented as W and L for Wins and Losses or S and F for Success and Failure.
For example, the odds that a randomly chosen day of the week is a weekend are two to five , as days of the week form a sample space of seven outcomes, and the event occurs for two of the outcomes Saturday and Sunday , and not for the other five. For example, the odds against a random day of the week being a weekend are Odds and probability can be expressed in prose via the prepositions to and in: "odds of so many to so many on or against [some event]" refers to odds — the ratio of numbers of equally likely outcomes in favor and against or vice versa ; "chances of so many [outcomes], in so many [outcomes]" refers to probability — the number of equally like outcomes in favour relative to the number for and against combined.
For example, "odds of a weekend are 2 to 5", while "chances of a weekend are 2 in 7". In casual use, the words odds and chances or chance are often used interchangeably to vaguely indicate some measure of odds or probability, though the intended meaning can be deduced by noting whether the preposition between the two numbers is to or in. Odds can be expressed as a ratio of two numbers, in which case it is not unique — scaling both terms by the same factor does not change the proportions: odds and odds are the same even odds.
Odds can also be expressed as a number, by dividing the terms in the ratio — in this case it is unique different fractions can represent the same rational number. Odds as a ratio, odds as a number, and probability also a number are related by simple formulas, and similarly odds in favor and odds against, and probability of success and probability of failure have simple relations.
Analogously, given odds as a ratio, the probability of success or failure can be computed by dividing, and the probability of success and probability of failure sum to unity one , as they are the only possible outcomes. In case of a finite number of equally likely outcomes, this can be interpreted as the number of outcomes where the event occurs divided by the total number of events:.
This is a minor difference if the probability is small close to zero, or "long odds" , but is a major difference if the probability is large close to one. These transforms have certain special geometric properties: the conversions between odds for and odds against resp. They are thus specified by three points sharply 3-transitive. Swapping odds for and odds against swaps 0 and infinity, fixing 1, while swapping probability of success with probability of failure swaps 0 and 1, fixing.
Converting odds to probability fixes 0, sends infinity to 1, and sends 1 to. In probability theory and statistics, odds and similar ratios may be more natural or more convenient than probabilities. In some cases the log-odds are used, which is the logit of the probability. Most simply, odds are frequently multiplied or divided, and log converts multiplication to addition and division to subtractions.
This is particularly important in the logistic model , in which the log-odds of the target variable are a linear combination of the observed variables. Similar ratios are used elsewhere in statistics; of central importance is the likelihood ratio in likelihoodist statistics , which is used in Bayesian statistics as the Bayes factor.
Odds are particularly useful in problems of sequential decision making, as for instance in problems of how to stop online on a last specific event which is solved by the odds algorithm. The odds are a ratio of probabilities; an odds ratio is a ratio of odds, that is, a ratio of ratios of probabilities.
Odds-ratios are often used in analysis of clinical trials. Answer: The odds in favour of a blue marble are One can equivalently say, that the odds are against. There are 2 out of 15 chances in favour of blue, 13 out of 15 against blue. That value may be regarded as the relative probability the event will happen, expressed as a fraction if it is less than 1 , or a multiple if it is equal to or greater than one of the likelihood that the event will not happen.
In the first example at top, saying the odds of a Sunday are "one to six" or, less commonly, "one-sixth" means the probability of picking a Sunday randomly is one-sixth the probability of not picking a Sunday. While the mathematical probability of an event has a value in the range from zero to one, "the odds" in favor of that same event lie between zero and infinity. It is 6 times as likely that a random day is not a Sunday.
The use of odds in gambling facilitates betting on events where the relative probabilities of outcomes varied. For example, on a coin toss or a match race between two evenly matched horses, it is reasonable for two people to wager level stakes. However, in more variable situations, such as a multi-runner horse race or a football match between two unequally matched sides, betting "at odds" provides a perspective on the relative likelihoods of the possible outcomes.
In the modern era, most fixed odds betting takes place between a betting organisation, such as a bookmaker , and an individual, rather than between individuals. Different traditions have grown up in how to express odds to customers, older eras came with betting odds between people, today which is illegal in most countries, it was referred as "odding", an underground slang word with origins based in the Bronx.
Favoured by bookmakers in the United Kingdom and Ireland , and also common in horse racing , fractional odds quote the net total that will be paid out to the bettor, should he or she win, relative to the stake. However, not all fractional odds are traditionally read using the lowest common denominator. Fractional odds are also known as British odds, UK odds,  or, in that country, traditional odds. Odds with a denominator of 1 are often presented in listings as the numerator only.
A variation of fractional odds is known as Hong Kong odds. Fractional and Hong Kong odds are actually exchangeable. The only difference is that the UK odds are presented as a fractional notation e. Both exhibit the net return. The European odds also represent the potential winnings net returns , but in addition they factor in the stake e. Favoured in continental Europe , Australia , New Zealand , Canada , and Singapore , decimal odds quote the ratio of the payout amount, including the original stake, to the stake itself.
Therefore, the decimal odds of an outcome are equivalent to the decimal value of the fractional odds plus one. This is considered to be ideal for parlay betting, because the odds to be paid out are simply the product of the odds for each outcome wagered on. When looking at decimal odds in betting terms, the underdog has the higher of the two decimals, while the favorite has the lower of the two.
Decimal odds are favoured by betting exchanges because they are the easiest to work with for trading, as they reflect the inverse of the probability of an outcome. Decimal odds are also known as European odds , digital odds or continental odds. Moneyline odds are favoured by American bookmakers. The figure quoted is either positive or negative.
Moneyline odds are often referred to as American odds. A "moneyline" wager refers to odds on the straight-up outcome of a game with no consideration to a point spread. In most cases, the favorite will have negative moneyline odds less payoff for a safer bet and the underdog will have positive moneyline odds more payoff for a risky bet. However, if the teams are evenly matched, both teams can have a negative line at the same time e. In gambling, the odds on display do not represent the true chances as imagined by the bookmaker that the event will or will not occur, but are the amount that the bookmaker will pay out on a winning bet, together with the required stake.
In formulating the odds to display the bookmaker will have included a profit margin which effectively means that the payout to a successful bettor is less than that represented by the true chance of the event occurring. This profit is known as the 'over-round' on the 'book' the 'book' refers to the old-fashioned ledger in which wagers were recorded, and is the derivation of the term 'bookmaker' and relates to the sum of the 'odds' in the following way:.