Three formatsįor the British and Irish they are most familiar with fractional odds, which are displayed as 1/2, 1/1 (evens), 2/1, 100/1 and so on. We will cover implied probability later in this guide. Likewise, you can also get a grip on the concept of ‘implied probability’ when assessing odds and shopping for value in the market. In addition to understanding the difference between the three methods which bookmakers use to calculate and display odds, you can always use odds conversion tables or odds calculators to ensure you have the prices clear in your mind before placing your bet. These are referred to as fractional, decimal and moneyline, with the latter often being called American.
When it comes to odds - or prices – offered by bookmakers there are three distinct ways in which those odds can be displayed.
