The odds are the prices offered by the bookmakers and that tell you how much you can win on a given bet. In general, the higher the odds, the lower the probability 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 customs. You can view odds presented in the UK (fraction), Europe (decimal), US (money line), and formats that are popularly used in Asian betting markets, including Indonesian-style odds formats , Malaysia and Hong Kong.
In live betting (also known as in-play betting, in-play betting, ongoing betting), odds tell a story. The ability to decipher the odds to identify betting opportunities is the secret to making money, and understanding the various odds formats is essential to being able to place decisive bets at the right time.
Below is a brief conversion table of the different odds formats. Since it is very difficult to present the graph in the form of a table with ordered tabulations, follow the sequence of probabilities according to the probabilities formats:
UK=>Europe=>USA=>Indonesia=>Malaysia=>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
8/11 => 1.73 => -137 => -1.37 => +0.73 => 0.73
1/2 => 1.50 => -200 => -2.00 => +0.50 => 0.50
Please take note of the following points:
1) For UK and European odds, any payout greater than 1/1 and 2.00 respectively are negative odds in Malaysian format.
2) Indonesian odds are like US odds, just divided by 100.
3) Please note that for the US and Indonesian odds versus the Malaysian odds, the interpretation of the positive (+) and negative (-) figures are opposite each other. For example, USA +500/Indonesia +5.00 is Malaysia -0.20; USA -200/Indonesia -2.00 is Malaysia +0.50 etc.
Understand the format of various probabilities
Let’s take an example of a match between Sydney vs Adelaide with level handicap and the odds offered are as follows:
Match: Sydney vs Adelaide (level handicap) and the odds in the following formats:
UK=>Europe=>USA=>Indonesia=>Malaysia=>Hong Kong
Sydney To Win => 3/2 ==> 2.50 => +150 => +1.50 => -0.67 => 1.50
Adelaide to win => 8/11 => 1.73 => -137 => -1.37 => +0.73 => 0.73
It is important to note the difference between your payout after a win and your win, which is the payout minus your bet amount.
UK odds (fractional)
UK odds X Your bet = 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 win 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 (Moneyline)
US odds are expressed in positive (+) and negative (-) numbers. Positive figures show the amount you would win for a bet of $100. Negative figures 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 win 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 figures show the amount you would win for a bet of $100. The negative numbers show how much you would lose if you won $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 win will be $73
* If you take Adelaide and lose, you will lose $100
Indonesian odds
Indonesian odds are like US odds, just 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 win 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 win will be $73
* If you take Adelaide and lose, you will lose $100
conclusion
The various types of odds formats seem confusing at first. It’s just a matter of getting used to the one you feel most comfortable with to allow you to earn money on time by making decisive bets in your live betting business.