Hollywoodbets Sports Blog: Understanding betting odds: an easy guide for new punters

Understanding betting odds: an easy guide for new punters

Son of Tottenham shoots

Just getting into sports betting but struggling to come to terms with betting odds and the endless numbers associated with placing your first bet? We’ve put together a quick write up explaining exactly how our odds work as well as a quick explanation of how multiples are calculated! Let’s get to it!

Image Copyright - Steve Haag Sports

We’ll use a game between Newcastle and Sheffield United to explain everything below. 

Decimal Odds 

Newcastle 2.4 | Draw 2.1 | Sheffield United 1.3

At Hollywoodbets, our betting odds can be viewed in one of two ways, decimal and fractional. Let’s take a look at the decimal representation first. As you can see in the above example, Newcastle are 2.4 to win, the draw is priced up at 2.1 while Sheffield Untied are 1.3 to win this match.

Simply explained, the decimal figure above represents how much you’re likely to win for every R1 you stake on your selection. So:

If you spend R10 on Newcastle to win, you could win R24 (R10 x 2.4)
If you back the draw for R10, you could win R21 (R10 x 2.1)
If you spend R10 on Sheffield United to win, you could win R13 (R10 x 1.3)

Fractional Odds

Newcastle 24/10 | Draw 21/10 | Sheffield United 13/10

While it may look vastly different, using fractional odds will still see you arrive at the same payouts. The easiest way to look at fractional odds is like this: the number of the right represents your stake and the number on the right represents what you could potentially win with that stake.

The isn’t a right or wrong way to view the odds. Go with what you feel more comfortable with, whether decimal or fractional.

European Decimal (Some SA bookmakers make use of this standard)

Just be aware that some South African bookmakers use the European standard for decimal odds, where they add 1 to their odds to represent the stake. So for the game we’ve been using as an example, the European standard decimal odds will look like this:

Newcastle 3.4 | Draw 3.1 | Sheffield United 2.3

Calculating Multiples

Calculating your multiple is simple enough. Doing so could prevent you from adding unnecessary legs or help you find out how much your multiple will pay. It could also assist in knowing how much money to stake in order to win a specific amount.

Check out the example below:

Liverpool 12/10 (1.2 + 1) = 2.2
Dortmund 19/10 (1.9 + 1) = 2.9
Porto 27/20 (1.35 + 1) = 2.35
Pirates 5/4 (1.25 + 1) = 2.25
Man United 1/1 (1 + 1) = 2
AC Milan 8/10 (0.8 + 1) =1.8

Multiply the decimals plus 1 for each game:
2.2 x 2.9 x2.35 x 2.25 x 2 x1.8 = 121

Then subtract 1 off the total of your matches:
121 – 1 = 120

So, for your R10 you could win R1200 (10 x 120).

If you require any other information about how betting odds work at Hollywoodbets, don’t hesitate to get in touch with us via our social media channels, or chat to one of our Team Members at any of our branches around the country!

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