Odds
Odds are the multiplier a bookmaker applies to your stake if the bet wins. In decimal format, odds of 2.50 return 2.50 times the stake (stake included): a £10 bet returns £25, i.e. £15 net profit. They also express an implied probability: 1 ÷ odds.
Decimal odds, the standard across continental Europe, much of Africa and Australia, show the total return for each 1 unit staked. Keep two ideas apart: the total return (stake × odds) and the net profit (stake × (odds − 1)). Odds of 1.50 don't « double » anything: on a £10 stake, the net profit is only £5.
There are two other formats. Fractional odds, traditional in the UK, give the net profit relative to the stake: 3/2 means 3 won for every 2 staked, equivalent to 2.50 in decimal (fraction + 1). American odds (moneyline) use 100 as the reference: a positive figure (+150) is the net profit on a 100 stake; a negative figure (−200) is the stake needed to win 100.
To convert: if the decimal odds are 2.00 or more, American odds = +(decimal − 1) × 100; below that, American odds = −100 ÷ (decimal − 1). Whatever the format, odds are not a « true » probability: they reflect the market's view and include the bookmaker's margin. Longer odds pay more because the outcome is seen as less likely, not because it is a better bet.
Example
Odds of 2.50 = 3/2 = +150: a £10 stake returns £25 in total, i.e. £15 net profit, and the implied probability is 40%. Odds of 1.50 = 1/2 = −200: a £10 stake returns £15, i.e. £5 net profit (implied probability ≈ 66.7%).
How Elofoot uses it
Elofoot doesn't publish odds: it shows probabilities, with no margin. You can derive a theoretical « fair » price from them, equal to 1 ÷ probability (40% corresponds to 2.50), which is a benchmark for comparison, not a price on offer.
Betting involves risks: losing money, debt, addiction. Betting is for adults only. Never stake more than you can afford to lose. Elofoot is a data analysis tool: it takes no bets and no prediction is guaranteed.
Frequently asked questions
- How do you work out the payout on odds?
- Total return = stake × odds; net profit = stake × (odds − 1). At 2.50, a £10 stake returns £25, of which £15 is net profit.
- How do you convert fractional odds to decimal?
- Divide the numerator by the denominator and add 1. So 3/2 = 1.5 + 1 = 2.50, and 1/2 = 0.5 + 1 = 1.50.
- What do odds of +150 or −200 mean?
- They are American odds. +150: a 100 stake wins 150 net (decimal 2.50). −200: you must stake 200 to win 100 (decimal 1.50).
- Are bigger odds a better bet?
- Not in themselves. They pay more because the outcome is seen as less likely; only a comparison with an estimated probability tells you whether the price is generous.
See also
Go further
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