The betting odds format refers to how they are presented. There are three ways of exposing the quotas:
- The decimal odds in European betting,
- Fractional odds in British bets
- American betting odds
Most bookmakers present their fees in all three types of format.
Knowing what each of these odds formats consists of is essential to have a great gaming experience to stake with your free bets, as well as to get more benefits from these bets.
Next, we will present in greater depth what each of these quota formats is.
Also known as a decimal format, the European format is the most widely used form of quotas in the world, both for how easy it is to represent quotas and how simple it is to understand them.
And here, we find the quotas expressed in decimals and whole numbers, for example, 1.80.
- To obtain the decimal in the European format, a calculation is made in which one is divided by the probability of victory, for example, 1 by 70% of the probability of victory
- Suppose that Barcelona vs. Real Madrid will play in the Spanish classic, and the probability of victory for Barcelona is 50%, this results in a share in European format of 1/50%, expressed in number, a probability of 2.
You can even make your calculation in the European format because all you have to do is divide your estimate of how likely your favorite team or player wins by 1.
The odds help you calculate what benefits you can get from bets. All you have to do is multiply the amount wagered by the decimal fee.
So we can better choose our bets and calculate the benefits that certain bets can leave you.
As for the English format, we can find that this quota format, instead of using decimals, uses a presentation in the form of fractions.
That is, instead of having 0.5, we have 5/10, so the calculation does not change substantially; what changes is the format in which it is presented.
As for the American format, we can find that this is different from the previous ones since the calculation of the quota is made following a base of 100 units, which performs a mathematical calculation to estimate what the quota will be.