When you are looking at the odds on offer while betting, you will notice that there are three different odds formats in which they can be shown. The two most common formats are fractional and decimal, while you can also view odds in the American format. All three are used by the majority of bookmakers, and while you will have your favourite, to increase your betting knowledge it is important to try and understand the others, especially the main two.

Here is a betting guide to the three different odds formats that are available for punters to use.

Fractional Odds

Fractional odds are the traditional format used by bookmakers and the one that is most common with punters, especially those who bet on horse racing as these odds are used for horse racing. When you look at fractional odds, the number on the right hand side of the fraction is your stake, and the number on the left is your returns.

For example – odds of 3/1 means that if you put on £1, you will win back £3 plus your £1 stake money.

Fractional odds are not used as much by football and sports punters, because when you are looking at smaller odds it is harder to compare them.

For example – You have to be an odds expert to quickly compare 13/10, 6/4, 11/8 and 7/5 when you are placing your bet. It is vital you always take advantage of the best odds when you place your bet, so comparing the different odds available with different bookmakers is important.

Decimal Odds

While Decimal odds are not the traditional type used, sports punters are turning to them for their ease of use, making them popular in the different odds formats used. When you are comparing decimal odds, even at short odds, it is impossible to get them wrong, so you can always take the best available price when you bet.

Decimal odds are shown to a unit stake of 1, and the odds are shown as your total return including your stake money back. So using the example above of 3/1, as a decimal that is shown as 4.00. This shows that if you put on £1, the total you will receive back is £4.

The fractional odds above that were hard to compare for those not familiar with fractions are shown as the following when using decimal odds, 2.30, 2.50, 2.38, 2.40. It is much easier to see those odds and work out that 2.50, or 6/4 is the best to take because this gives you the biggest return.

American Odds

Of the different odds formats, American odds are the least used by punters around the world, however as the name suggests they are used a lot in America. When showing this format, you are shown the profit you will make off a bet of 100. For example, the odds of 5/1 or 6.00 would be shown as +500 in the American format. This shows you that if you put on 100, you will receive back 500 of profit.

You won’t encounter American odds too much, but if you are betting on American sports then they are worth understanding as you can read and check the American betting markets and compare the prices on offer.