Sports betting is becoming increasingly popular among sports fans and those who want to try their luck and analytical skills. However, to play successfully, it is important to understand how winnings are calculated on bets. This article will explain the basic principles of calculating winnings in sports betting, and will also give examples.
Main types of odds
Odds are a key element that determines the potential profit from a bet. There are several types of odds that are used in different countries:
1. Decimal odds (European)
This is the most common type of odds. They are expressed as a number with one or more decimal places. For example, 1.50, 2.75, etc.
The formula for calculating winnings based on decimal odds is simple:
Win = Bet × Odds
Example: if you bet 1,000 dollars on an event with odds of 2.00, your potential winnings will be:
1,000 × 2.00 = 2,000 dollars
Of this amount, 1,000 dollars is the return of your original bet, and 1,000 dollars is your net profit.
2. Fractional odds (UK)
These odds are used mainly in the UK and are expressed as fractions, such as 5/2, 3/1, etc.
The formula for calculating winnings is:
Winnings = Bet × (Numerator / Denominator)
Example: if you bet 1,000 dollars on odds of 5/2, your winnings will be:
1,000 × (5/2) = 2,500 dollars
Here, 1,000 dollars is the return of the bet, and 1,500 dollars is the net profit.
3. American odds
These odds differ from the previous ones and come in two types: positive and negative.
o Positive odds show how much you can win by betting 100 units (for example, +200 means that you will win 200 dollars with a bet of 100 dollars).
o Negative odds indicate how much you need to bet to win 100 dollars (for example, −150 means that you need to bet 150 dollars to win 100 dollars).
Formula for positive odds:
Win = Bet × (Odds/100)
Formula for negative odds:
Winnings = Bet × (100 / Odds)
Example of winnings calculation
Let’s look at an example of calculation using decimal odds. Let’s say you bet 2,000 dollars on the outcome of a football match with odds of 1.80. If you win, your bet will be calculated as follows:
2,000 × 1.80 = 3,600 dollars. 2,000
Of this amount, 2,000 dollars is the returned bet, and 1,600 dollars is net profit.
If you lose, the entire bet amount is lost and will not be refunded.
Multiple bets
In bets, you can select not one, but several events (for example, express or system). The winnings on an express bet are calculated based on the product of the odds of all selected events. If at least one event loses, the entire bet is lost.
Example: you selected three events with odds of 1.50, 2.00 and 1.70 and bet 1,000 dollars. Total odds of the express:
1.50×2.00×1.70=5.10
Your potential winnings will be:
1000×5.10=5100 dollars
At the same time, as already mentioned, all events must be winning to receive this winnings.
Knowing how winnings are calculated in sports betting helps the player make more informed decisions. It is important to remember that bets are always associated with risk, and you should approach them responsibly, based on calculations and analysis.
