HOW TO CALCULATE DECIMAL ODDS

[Hannman]

To learn how to read sport betting odds with precise accuracy, you must be conversant with decimal odds. Decimal odds are the most common format used in Europe, Australia, and Canada. They are represented as a number with two decimal places, such as 1.75. This number represents the amount of money that a bettor would win for every unit of currency wagered. It is calculated by dividing 1 by the decimal odds. For example, if the decimal odds are 2.00, the implied probability is 1/2.00 = 0.50 or 50%.
To calculate the potential payout of a bet in Naira, you need to multiply the amount of the bet by the decimal odds. For example, if you bet 1,000 Naira on a bet with decimal odds of 2.00, your potential payout would be 1,000 x 2.00 = 2,000 Naira.

Here’s an example:

Let’s say you want to bet on a football match between Manchester United and Chelsea. The decimal odds for Manchester United to win are 2.50.

To calculate the implied probability of Manchester United winning, you divide 1 by 2.50, which gives you 0.40 or 40%.

To calculate the potential payout of a 1,000 Naira bet on Manchester United to win, you multiply the bet amount by the decimal odds, which gives you 1,000 x 2.50 = 2,500 Naira.

So, if Manchester United wins the match, your payout would be 2,500 Naira. If they lose or draw, you would lose your 1,000 Naira bet.

 

[Baniro]

Decimal Odds = Total Payout / Stake

Here's a step-by-step example to illustrate the calculation:

Let's say you're considering a bet with a potential total payout of $300, and you're planning to stake $50. To calculate the decimal odds:

Decimal Odds = Total Payout / Stake Decimal Odds = $300 / $50 Decimal Odds = 6

 

[saoussen5765]

I could recommend Draw No Bet or double chance. For 1 for Manchester United is very risky or even Handicap or Asian Handicap is very risky but if you do 1 X or 1 Draw No Bet then if draw not lose your money and get 1 odd instead or 1X but the earning will be lower from 1 itself. These are some recommendations for odds.

 

[Btaliat]

This is informative. Most newbies doesn't know how to calculate the odds of the games that they want to play. This is the reason why most of them always lose their money. To ensure that we have more chance to win, we need to know how to calculate odds.

 

[swift]

I think it's a concept you should learn , before even gambling any odds , it's paramount for you to understand the concept first before anything else' , you should not make any mistake in not understanding the concept before anything else