Betting on favourite teams and athletes is a favourite pastime for millions of sports fans worldwide. What’s great is that there are numerous betting markets available when you visit online sports betting sites.

Referring to the odds is one technique to select the top betting sites. The odds are important because they provide insight into the anticipated result of a game. It also determines how much you can win.

There are many types of available bookmaker odds while indulging in online sports betting activities. Although their objective may all be the same, they have various ways of making you understand the predictions. If you're interested in learning how to understand them better, here's a closer look at the three most common odds formats.

American odds

American odds, usually referred to as moneyline odds, is a popular odds format used by several punters in the United States. This is usually characterized by plus and minus signs that are written before the numbers.

The plus (+) and minus (-) indicators show the potential payoff as well as whether or not you can be placing bets on the underdog or the favourite. The favourites on the betting line are represented by negative numbers. Meanwhile, the match's underdog is determined by the ones which have a plus sign before them.

Fractional odds

Fractional odds or British odds are most frequently used by punters. As the name suggests, this odds format is stated in fractional form. It is commonly used for horse race betting odds.

To express it in fractions, these are often written with a slash or hyphen. When odds are expressed as 4/1, it will be read as four-to-one. It means that you can win $4 for every $1 you wager.

This format calculates the winnings as a percentage of the initial wager. The figures on the left show how frequently a bookmaker anticipates failed outcomes. Meanwhile, the numbers on the right will show how many times an outcome is expected to succeed.

Decimal odds

Another popular odds format you may try using is the decimal odds format which is popular in places like Canada, Australia, New Zealand, and continental Europe. What makes this format popular is how understandable it is, thus making it easier for punters to determine who are the favourites and the underdogs.

This odds format shows how much you can win for each dollar you wager. The numbers in this odds format denote the overall payout, not the profit. Without having to use fractions or plus and minus symbols, you may find it easier to calculate your possible rewards using this format.

These are just some of the formats you may usually see when checking bookmaker odds. By understanding each one and how they are computed, you can have a better sense of what’s a better choice when you bet. That way, you can be a more responsible and knowledgeable punter who isn’t clueless about the right thing to do.